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Found 57 search results for: PKB
Andrzej Czyżewski, Ryszard Kata, Anna Matuszczak (2022/1, Articles,
Expenditure of Poland’s Agricultural Budgets in the Context of Selected Macroeconomic Relations
The article analyses the dynamics and structure of agricultural expenditure in Polish state budgets in 1995–2020, which is the basis for considerations on the relationship between budget expenditure on agriculture and the dynamics of GDP and the dynamics of the state budget. The analysis concerned both nominal values and values adjusted by the CPI inflation index. In the pre-accession (...)
Jan Marek Sztaudynger, Jan Jacek Sztaudynger (2022/1, Articles,
The Impact of Supply Bottlenecks on Investment Efficiency
In the paper, the impact of physical capital investments on macroeconomic growth is examined. The authors try to show to what extent it depends on the supply bottleneck (disequilibrium), which existed before the investment and which is eliminated by this investment. The narrower the bottleneck and the more it slows down macroeconomic growth, the more output growth will result from this (...)
Maciej Wysocki, Cezary Wójcik (2021/6, Articles,
In 2016–2019 Poland experienced a major social and fiscal policy shift: new government decreased the statutory retirement age and launched several new social programs, including the sweeping Family 500+ program under which social expenditure on family and children support increased suddenly from 1.5% to nearly 3% of GDP. Moreover, VAT gap reduction policies have been implemented swiftly (...)
Michał Schwabe (2021/4, Articles,
Due to unprecedented economic growth after the EU accession, four post-communist economies: Czechia, Hungary, Poland, and Slovak Republic (Visegrad Group, V4) have suffered from unsaturated demand in their labour markets. However, while undergoing the transition from net emigration into net immigration countries, the V4 governments unleashed anti-immigrant propaganda, which seems to have (...)
Muhammad Umer, Mukhtar Danladi Galadima, Babar Nawaz Abbasi (2021/3, Miscellanea,
According to the Phillips curve, there is an inverse relationship between inflation and unemployment. According to the Okun’s law, there is an inverse relationship between potential output growth and unemployment. The paper tries to check whether these interdependencies are seen in the Pakistan’s economy, thus testing the relevance of both dependencies for that economy. With this aim, the (...)
Tomasz Grodzicki, Mateusz Jankiewicz (2020/4, Miscellanea,
Energy Consumption and Economic Growth in the European Union: A Causality Analysis
Energy sector is one of the most important matters in the economic policies of the European Union since it has a significant impact on the quality of life and economic growth. The aim of this paper is to examine the causal relationship between energy consumption and economic growth in the European Union, based on the data from the period of 1960–2015. Using a Granger causality test (...)
Izabela Młynarzewska-Borowiec (2020/3, Articles,
Income Gap between the New and Old EU Member States and Its Determinants in the Period 1996–2017
In the period 1996–2017 there was a significant progress in reducing income disparities between the new member countries of the EU (EU-13) and the old EU member states (EU-15). The successes of individual new EU members in overcoming their income distance to Western Europe were diversified. It can be assumed that the catching-up process depends on the differentiated set of GDP per capita (...)
Andrzej K. Koźmiński, Adam Noga, Katarzyna Piotrowska, Krzysztof Zagórski (2020/2, Articles,
The authors use a composite socioeconomic development indicator, called ALK (BDI) index, to analyze the economic situation in 22 European OECD countries in the period of 1999–2017. The indicator includes 45 social and economic variables contained in four groups: 1) assessments of the current social and political situation, 2) social predictions and expectations, 3) internal economic (...)
Vitalii Bondarchuk, Alina Raboshuk (2020/1, Miscellanea,
The Impact of Monetary Policy on Economic Growth in Ukraine
This study examines the impact of monetary policy on economic growth in Ukraine between 2006 and 2019. After the stationarity and co-integration tests, a vector-autoregressive model (VAM) was used to estimate the impact of monetary factors on economic growth in Ukraine. The research results show that GDP changes are largely explained by its own earlier dynamics, but in the long-run real GDP (...)
Burim Gashi (2019/6, Miscellanea,
The Impact of Public Debt on Economic Growth: Evidence for Balkan Countries
The aim of this paper is to analyse the impact of public debt on economic growth in five Western Balkan countries using data for the period of 2008–2017. The author investigates whether there is a non-linear (quadratic) relationship between the public debt (measured by its proportion to GDP) and economic growth (measured by the growth rate of GDP per capita) in this group of countries (...)
Eliza Przeździecka, Rumiana Górska, Andżelika Kuźnar, Jerzy Menkes (2019/6, Articles,
The Effects of EU–Japan Economic Partnership Agreement for Poland’s Economy
The article analyzes the impact of the EU–Japan Economic Partnership Agreement (EPA) on Poland’s economy. The authors investigate the effects of a bilateral elimination of customs duties on the economy using the Computable General Equilibrium framework and the GTAP database. The impact of the bilateral elimination of customs duties on GDP, production, trade and social welfare in Poland is (...)
Aneta Kosztowniak (2019/5, Articles,
Impact of the Financial Structure of FDI Inflows on Economic Growth in Poland
The aim of this paper is to analyse the impact of financial components of foreign direct investment (FDI) inflows on economic growth in Poland in the years 2004–2018, with special emphasis on the role of reinvestment of earnings. The following hypothesis has been put forward: As FDI inflows into Poland and enters the successive stages of its profitability life cycle, impact of equity on (...)
Jacek Jankiewicz, Przemysław Garsztka (2019/4, Articles,
Unemployment and Time Spent in Household Production
In recent decades, great interest has arisen in the scientific community about better understanding and measuring of people’s well-being. It is widely recognized that an exclusive concern with production and consumption, as measured in national accounts such as GDP, is an insufficient strategy and should not be the only source for guiding policy makers. This paper deals with nonmarket (...)
Piotr Krajewski (2019/3, Articles,
Decomposing the Impact of Government Spending on GDP in Poland
Using structural vector autoregression model (SVAR), the author compared the efficiency of various categories of government expenditure in boosting economic activity in Poland. The empirical analysis, covering the period of 2002–2017, was made on quarterly data. The results of the examination show that, in line with theoretical premises, the strongest and long-lasting effect on GDP is (...)
Piotr Krajewski, Agata Szymańska (2018/4, Articles,
The Significance of Military Spending in Evaluating Fiscal Policy Effects
The aim of this article is to analyze the impact of military spending shocks on GDP in the Czech Republic, Poland and Hungary. This study is based on SVAR model with identification scheme of O. Blanchard and R. Perotti. Our model includes three variables: real GDP, net taxes and military spending, which is more exogenous than other government spending. The results show that military (...)
Kamila Kuziemska-Pawlak (2018/4, Articles,
The Determinants of Poland’s Current Account Balance
This paper tries to identify empirically the main determinants of the current account balance (CAB) to GDP ratio in Poland. It shows that an increase of the CAB to GDP ratio was supported by the process of real economic convergence and a rise in the general government balance to GDP ratio. In turn, an appreciation of the real effective exchange rate of the Polish zloty, an increase in the (...)
Dorota Wawrzyniak (2018/3, Articles,
Verifying the Environmental Kuznets Curve for European Union Countries
The aim of this article is to analyze the impact of energy consumption, trade openness, foreign direct investment and GDP on CO2 emissions in European Union countries within the environmental Kuznets curve (EKC) framework. The econometric study was egzemplarz redakcyjny Key Text conducted using a sample covering the UE-28 countries (excluding Luxembourg) in years 1990–2013. The empirical (...)
Maciej K. Dudek (2018/3, Articles,
Equilibrium Discrepancy between GDP and GNP in Poland
In this paper a theoretical approach, based on Cobb-Douglas production function, is used to assess the difference between the GDP and GNP values in Poland. The results suggest that in the long run GDP in Poland will be about 9.5% higher than GNP implying that the actual income levels enjoyed by Polish nationals will be lagging those implied by GDP by about three years. Furthermore, the (...)
Jan L. Bednarczyk, Katarzyna Brzozowska-Rup (2018/3, Articles,
New Challenges for Monetary Policy. Is Economic Growth Priority Coming Back?
The policy of low inflation rates implemented in highly developed countries in the 1990s failed to produce expected results, such as a satisfactory long-term pace of economic growth and avoidance of deeper and durable economic downturns. On the contrary, the countries which were most determined to stabilize prices (Japan, the Eurozone) experienced triggering of deflation-stagnation (...)
Maciej Bukowski, Piotr Koryś, Cecylia Leszczyńska, Maciej Tymiński, Nikolaus Wolf (2018/2, Articles,
Economic Growth of Polish Territories in the Period of First Globalization (1870–1910)
Economic growth of various countries in the period between 1870 and 1910 has been analysed in many quantitative studies. For the Polish territories there are two estimates of GDP per capita, which however cannot be treated as fully reliable. It should be noted that such estimates give rise to serious difficulties regarding methodology and data sources. In this case, a special problem is (...)
Adam Lipowski (2017/6, Articles,
The article has two aims: cognitive and theoretical. The cognitive aim consists in analyzing the impact of inaccurate and controversial methods of measuring the actual and potential GDP on growth-oriented fiscal and innovative policies. The theoretical aim consists in the critical appraisal of theoretical (post-Keynesian and endogenous) foundations of growth-oriented government expenditures (...)
Jacek Pietrucha, Rafał Żelazny (2017/5, Articles,
Interdependence of Innovations and Institutions: Consequences for GDP Growth
This paper examines the relationship between the creative economy index (CEI) and GDP growth. The authors assume that as a result of feedback between institutions, human capital and technology, conditions for creativity development arise, which is the accelerator for innovations at micro-, mezo- and macroeconomic levels – therefore, the creative economy develops. CEI is a composite index of (...)
Mariusz Gasztoł, Piotr Śliwka (2017/4, Articles,
The Impact of the Exchange Rate on the Volume of Polish Commodity Exports to Germany, 1995–2013
The article presents the results of the analysis of the impact of the exchange rate on the volume of Polish commodity exports to Germany in the period 1995–2013. The analysis has been made on quarterly data with a VAR model. The regression equation explaining the dynamics of the export volume included, apart from the exchange rate of the Polish currency, the change in real GDP of Poland and (...)
Grzegorz Waszkiewicz (2017/3, Miscellanea,
Defense Spending in Eurozone Countries and Its Impact on Economic Growth
Eurozone’s countries are still facing the problem how to invigorate the economic growth of national economies. One of the interesting questions concerns the impact of military expenditure on economic growth. The aim of the paper was to check whether defense spending in Eurozone countries has a noticeable impact on economic growth. Empirical analysis was based on the Granger causality test (...)
Ewa Aksman (2017/2, Articles,
Inequality of Pre-fiscal and Post-fiscal Income Distribution in European Countries
The paper aims at assessing inequality of distribution of pre-fiscal income in European countries and capturing the statistical link between the pre-fiscal and post-fiscal income inequality, namely identifying redistributive effect of social transfers and income tax. All EU member states, along with Iceland, Norway and Switzerland in 2004–2014, are covered by the study. Unit data required (...)
Zbigniew Matkowski, Mariusz Próchniak, Ryszard Rapacki (2016/6, Articles,
Real Income Convergence between Central Eastern and Western Europe: Past, Present, and Prospects
The paper presents an analysis of real income convergence between 11 countries of Central Eastern Europe which have joined the European Union (EU11) and 15 countries of Western Europe (EU15) in the period 1993–2015. The evolution of the income gap between the two groups of countries in terms of GDP per capita at PPP reveals a clear-cut tendency to income convergence over the analyzed period (...)
Jan L. Bednarczyk, Piotr Misztal (2016/4, Articles,
Does the euro area move towards the low inflation trap?
The euro area is one of the slowest-growing areas of the global economy. Developmental problems of the euro area are in contradiction with the main objectives of the economic and monetary union, formulated in the Maastricht Treaty, and call into question the benefits of further deepening of European integration. The challenge for the effectiveness of economic policy conducted by the (...)
Jerzy Osiatyński (2016/3, Articles,
Quo vadis euro – Unio? Perspektywa ekonomii postkeynesowskiej
The strategy adopted by the European Central Bank, European Commission and International Monetary Fund after the outbreak of the global crisis aims at creating new, sustainable foundations for economic growth for member states of the eurozone and of the whole European Union, at full employment and the dynamics of output corresponding to the potential output. This strategy is based on the (...)
Krzysztof Beck, Jakub Janus (2016/1, Articles,
Similarity of Supply and Demand Shocks between Poland and Other EU Countries
The aim of this paper is to assess the correlation and relative magnitude of supply and demand shocks between Poland and other European Union (EU) countries, as well as to evaluate adjustments to economic shocks in these economies. The analysis is based on a bivariate structural vector autoregression (SVAR) with long-run restrictions derived from the aggregate demand-aggregate supply model (...)
Andrzej K. Koźmiński, Adam Noga, Katarzyna Piotrowska, Krzysztof Zagórski (2016/1, Articles,
In Search of Non-fragility of the Socio-economic System: Using the Synthetic BDI Index
The paper presents a new composite Balanced Development Index (BDI), named “ALK Indicator”, applied to analyse and predict socio-economic changes in Poland during 1999-2015 period. This is done because traditional measures of economic development, such as GDP growth, infl ation, state budget etc., are insuffi cient for assessing and forecasting socio-economic situation of the country (...)
Jakub Krawczyk, Szymon Filipczak (2015/6, Miscellanea,
The development of private equity finance in Poland and other CEE countries
The paper describes the development of private equity finance in Poland and in other CEE countries during the last 10 years. The first part of the paper discusses the main determinants of the development of the PE market, such as size and growth of the domestic economy, the development stage of the local capital market, legal regulations (notably as regards foreign investors), tax system (...)
Marcin Kalinowski (2015/6, Articles,
Stock Market and Economic Growth: A Cross-Country Study
The article deals with the mutual dependence between the development of the capital market and the development of the real sphere of the economy. The fi rst part of the paper includes a comprehensive review of the theoretical and empirical literature on the subject. The second part brings an empirical examination of the statistical dependence between the size and growth of the stock market (...)
Marlena Dzikowska, Marian Gorynia, Barbara Jankowska (2015/6, Articles,
Global Economic Crisis: An Attempt at Measuring the Effects on Individual Economies
The main aim of the article was to elaborate a worldwide ranking of countries showing the negative effects of the global economic crisis. In order to measure the impact of the global crisis on the individual economies, the authors have constructed a composite indicator of economic activity including fi ve macroeconomic variables: per capita GDP, exports of goods and services, unemployment (...)
Ilhan Ozturk, Ali Acaravci, Seyfettin Artan (2015/2, Articles,
The Casual Relationship Between Knowledge Spillovers and Economic Growth: The Turkish Case
This study has pointed out the long run determinants of the foreign knowledge and it spillovers effects, which come from capital goods imports. For this purpose, we explored both short-run and long-run causal relationships between foreign knowledge spillovers and its main determinants for Turkish economy over the 1992:Q1–2007:Q3 period. Results from ARDL bounds testing approach of (...)
Bartłomiej Rokicki (2015/1, Articles,
Regional PPP Deflators for Poland and Their Use
The aim of the paper is to present the methodology to calculate regional PPP deflators and their use in the analysis of the regional differentiation of income or wage levels. The regional income dispersion is one of the key aspects in the discussion about an active regional policy, both on the country level and in the framework of the common regional policy of the EU. In the case of Poland (...)
Irena Szarowská (2014/6, Articles,
This article deals with development and trends of government expenditure in the core European Union member states (EU15) in the period 1995-2010. The aim is to provide direct empirical evidence on cyclicality and the long-term and short-term relationship between government expenditure and GDP. Adjusted annual Eurostat data of GDP and government expenditure in compliance with the COFOG (...)
Jakub Kronenberg (2014/6, Articles,
Shale Gas in Poland and the Natural Resource Curse
The resource curse hypothesis postulates that, often, countries rich in natural resources are not able to fully exploit the economic potential of these resources. It has been observed that the more abundantly a country is endowed with resources, the greater is the likelihood of slow (or even negative) GDP growth rate in that country. The curse of natural resources can have different (...)
Michał Konopczyński (2014/6, Articles,
The Effect of Taxation and Human Capital on Economic Growth in Poland
The paper deals with the active macroeconomic policy (AMP) (fi scal and monetary), both supply – and demand-oriented. The primary aim of the supply-side policy is to stimulate the growth of the productive capacity of the economy while the aim of the demandside policy is full utilization of this capacity. The AMP is non-arbitrary if its aim can be adequately defi ned, including the sectoral (...)
Adam Lipowski (2014/6, Articles,
Is a Non-arbitrary Active Macroeconomic Policy Possible in a Service Economy?
The paper deals with the active macroeconomic policy (AMP) (fi scal and monetary), both supply – and demand-oriented. The primary aim of the supply-side policy is to stimulate the growth of the productive capacity of the economy while the aim of the demandside policy is full utilization of this capacity. The AMP is non-arbitrary if its aim can be adequately defi ned, including the sectoral (...)
Jerzy Osiatyński (2014/2, Articles,
Is Meeting the Convergence Criteria from Maastricht Always Beneficial for the Economy?
Until the world financial crisis of 2007–2008, the convergence criteria contained in the Maastricht Treaty have been commonly considered beneficial for countries that persistently observed them, although there is no economic theory from which those criteria and their specific numerical values could be derived from. Also in Poland an overwhelming majority of economists, policy makers and (...)
Michał Gradzewicz, Jakub Growiec, Robert Wyszyński (2013/5, Articles,
The Inefficiency of Employment Allocation in the Business Cycle in Poland
The authors have calculated the cyclical component of the inefficiency gap regarding the allocation of employment in the Polish economy in the period 1995 Q1–2011 Q2 and decomposed the inefficiency gap into its component elements related to wage and price markups. Inefficiency gap was found to be strongly procyclical while both markups appeared to be anticyclical. The fluctuations in the (...)
Michał Konopczyński (2012/6, Articles,
The Effect of Taxation on Economic Growth
Using the AK growth model, the author analyses the effect of taxes on long term economic growth, assuming that all government expenditure is spent on public consumption. The author shows that in order to attain the highest possible growth rate, one has to eliminate all the taxes, both income tax and consumption taxes. He proves mathematically that indirect taxes are less detrimental to (...)
Katarzyna Śledziewska, Bartosz Witkowski (2012/4, Articles,
Economic Crisis and World Trade
T he world economic crisis has caused significant changes in the world trade. The authors attempt to assess the change in the impact of main determinants of international trade during the crisis of 2009 and shortly after the crisis. In order to assess the impact of the main determinants of trade, notably GDP, per capita GDP, and geographical distance, a gravity model was estimated, based on (...)
Leszek Morawski, Michał Myck (2011/6, Articles,
Distributional Effects of the Child Tax Credit in Poland and Its Potential Reforms
distributional implications from the original policy proposals. While initially designed as an instrument addressed to low income working families, the tax credit was implemented without any upper earnings limit, and its generosity was substantially extended in 2007 implying an annual budgetary cost of about 0.5% of the GDP. The current design of the credit grants largest income gains in (...)
Piotr Misztal (2011/5, Articles,
Commodity Export Concentration and Economic Growth in the EU Member Countries
The main aim of the paper is to analyze the relationship between commodity export concentration and economic growth in the EU member countries in the period 1995-2009. The article consists of two parts. The first part includes the theoretical explanation of the relationship between the degree of export concentration (diversification) and economic growth, taking into account the main (...)
The Long-term Effect of EURO 2012 on Poland’s Economy
The paper presents the assumptions and results of the forecast prepared by a research team concerning the impact of the UE FA European Football Championship EURO 2012 on the growth of the Polish economy in the period 2008–2010. The simulation of the possible macroeconomic effects of the championship on Poland’s economy, including three forecast variants, has been derived using a dynamic (...)
Wojciech Przychodzień (2011/2, Miscellanea,
Cyclical Fluctuation of GD P Growth in Poland, 1989–2009
Eugeniusz Kwiatkowski (2011/1, Articles,
Global Crisis and Labour Market in Poland and Other Countries of the Vyshehrad Group
The paper analyses the changes that appeared in labour markets in Poland and in other countries of the Vyshehrad during the global crisis of 2007–2009. Special consideration is given to the evolution of employment and unemployment. The analysis tries to assess the impact of global crisis on employment and unemployment and to explain the different reation of labour markets in the individual (...)
Kazimierz Łaski, Jerzy Osiatyński, Jolanta Zięba (2010/6, Articles,
Factors of GDP Growth in Poland and the Czech Republic in 2009
First, the concept of public expenditure multiplier is redefined to allow for import intensity of exports, and its value is estimated for Poland and the Czech Republic in 2008–2009. Next, on the basis of effective demand model of economic dynamics, there follows a comparative analysis of GDP dynamics in the two countries in 2008-09 and of the factors that in 2009 made the rate of GDP growth (...)
Joanna Siwińska-Gorzelak (2010/2, Articles,
Volatility of public expenditure and long run growth
The impact of public expenditures’ volatility on the long run growth rate of GDP is a topic not often discussed in the literature. But the results of available research works uniformly indicate that such volatility is detrimental to long run growth.
The main objective of this paper is to reassess this empirical link. Its main novelty consists in that, besides using cross section data, it (...)
Jerzy Żyżyński (2009/5, Articles,
Access to the Eurozone – from illusions to realities
The author deals with the question of unpreparedness of the Polish economy to joining the Eurozone. He shows the levels of divergence in income distribution, in the development of the bank sector in terms of its assets related to GDP, and in the financial weakness of the public sector. He discusses the possible effects of the change of currency for the public, showing the results of (...)
Tatiana Fic (2009/1, Articles,
Business Cycle in the Economy of Poland. Observations Derived from Markov Chains
The article concentrates on the attempt to identify phases, turning points and the character of business cycle observed in Poland during 1995–2005. The switch-on and -off Markov models suggested by Hamilton (1989) have been applied. The obtained results indicate that during slowdown periods growth rate amounted to 2%, while during business prosperity the economy grew at the rate of 5.5% per (...)
Paweł Baranowski (2008/4, Articles,
Optimum Inflation Rate in Growth Modeling
Hypothesis concerning the optimum rate of inflation is verified in the article. Several theoretical studies dwelled on a similar subject, but very few have addressed the issue of empirical verification of this hypothesis within the framework of growth models. The author presents estimates of optimal inflation rate derived from a single equation econometric model that explains the growth of (...)
Leszek Zienkowski (2007/6, Articles,
Determinants and Perspectives for Economic Growth in the Coming Years
Results of international comparisons that evaluate determinants of economic growth are presented at first. It is noted that Polish economy is located in each sphere at one of the lowest positions among referred to countries. That indicates the need for economic reforms – the most important relate to business conditions and to public finance. However the results of comparative studies (...)
Grzegorz W. Kołodko (2007/6, Articles,
Two-thirds of Success. Systemic Transformation in Poland and Lessons for the Future
Postsocialist transformation must be seen against the background of ongoing globalization. The progress toward institutional changes should be evaluated through the prism of their influence on country’s development abilities. In Poland, over eighteen years of comprehensive systemic shift, GDP has increased more than in any other postsocialist country. While judging the transformation (...)
Krzysztof Rybiński, Urszula Sowa (2007/4, Articles,
Article presents factors behind rapid growth of foreign exchange reserves held by central banks (in ten years reserves more than tripled, to over 5 trillion dollars in 2006). Authors present a new concept, OCHAR – Opportunity Cost of Holding Ample Reserves, which is defined as a forgone GDP growth due to too conservative reserve management by central banks. Paper presents OCHAR estimates (...)
Eugeniusz Kwiatkowski, Tomasz Tokarski (2007/4, Articles,
Regional Unemployment in Poland in 1995–2005
The article aims at the presentation of description and statistical analysis of regional differentiation of unemployment in Poland in years 1995–2005. Source data were taken from the Labour Force Survey. The authors analyze the impacts of both, the sectoral employment structures as well as the value added, on the regional rates of unemployment. In addition, it is attempted to explain the (...)
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