Macro and Micro Features of Successful Economic Convergence : The Case of Poland
This paper examines the patterns of growth of Poland, and its transition into high-income status over the past two decades from a macro and micro perspective. It benchmarks Polish performance with that observed in established high-income countries,...
| Main Authors: | , |
|---|---|
| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/704781547133350911/Macro-and-Micro-Features-of-Successful-Economic-Convergence-The-Case-of-Poland http://hdl.handle.net/10986/31207 |
| Summary: | This paper examines the patterns of
growth of Poland, and its transition into high-income status
over the past two decades from a macro and micro
perspective. It benchmarks Polish performance with that
observed in established high-income countries, and with that
of others that have been trapped in middle--income levels
and examines the role that integration into the EU had on
growth. The analysis reveals, first, that Poland’s growth
process has been accompanied by a process of diversification
of assets, including institutions, physical and human
capital. Second, that the progressive integration into the
EU bloc boosted growth and productivity because of three
keyfactors: (i) increased openness to trade, investment and
talent, (ii) increased domestic competition, and regulatory
harmonization with EU, (iii) increased certainty in reforms,
through a commitment to EU-institutions. Third, that for
full convergence to high-income levels, Polish firms need to
increase their innovative capacities. The paper extracts
lessons applicable to other economies trapped in
middle-income levels, as well as to Poland itself to
consolidate growth looking forward. |
|---|