Trade and the financial openness of the Polish economy in the context of economic growth – the perspective of EU membership

Wajda-Lichy, Marta; Kawa, Paweł; Fijorek, Kamil; Denkowska, Sabina

doi:10.4324/9780429285301-3

Cited by 2 publications

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“…Poland not only continues to adapt its economy to regional challenges but also has to respond to global challenges through global production networks. One of the first challenges was the global financial crisis of 2008-2009. Its impact on the Polish economy was relatively smaller than on most European countries [Domańska, 2012;Hagemejer and Tyrowicz, 2017;Denkowska et al, 2021). Another shock for the world economy and Polish economy came in 2020, when due to the COVID-19 pandemic, there was an unprecedented reduction in economic activity practically all over the world [McKibbin and Fernando, 2020].…”

Section: Introductionmentioning

confidence: 99%

Poland and global value chains at the beginning of the 21st century – An opportunity or a threat?

Nacewska-Twardowska

2022

International Journal of Management and Economics

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This article aims to examine and present trade relations in global value chains (GVCs) and their impact on Polish trade, emphasizing Poland's ability to react to rapid changes in the global economy, as in the case of the COVID-19 pandemic. For this purpose, the author proposed a two-stage study. The first stage focuses on analyzing selected indexes describing the Polish share and position in GVCs against the background of the European Union (EU) and OECD countries. The second stage is related to the analysis of the latest economic trade data and the reaction of Poland, the EU, and OECD to changes in international trade in 2020 and 2021 in the context of GVC. The study uses data from the OECD and WTO Trade in Value Added Database and the Eurostat Database. The relatively quick adaptation of Poland to the world's standards indicates great possibilities for adaptation of the Polish economy. The share of foreign value added in Polish exports was consistent with global trends. The export orientation of Polish production increased during the analyzed period, proving Poland's deep commitment to global production chains. Despite a similar decline in import and export in the first months of 2020, as in the OECD and the EU26, the growth dynamics in the following months were higher in Poland. Many industries in Poland are highly dependent on the smooth operation of GVCs. At the same time, the service sector is gaining importance, and its share in exports is systematically growing. The highly flexible nature of Poland's international trade allowed it to reduce the negative impact of the COVID-19 pandemic on its economy.

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Section: Introductionmentioning

confidence: 99%

Poland and global value chains at the beginning of the 21st century – An opportunity or a threat?

Nacewska-Twardowska

2022

International Journal of Management and Economics

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Poland in the European Union Single Market

Pasimeni

2021

Economic and Regional Studies / Studia Ekonomiczne I Regionalne

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Subject and purpose of work: This paper studies the process of integration of Poland in the EU Single Market. It makes use of official statistics from a wide range of institutions (IMF, OECD, Eurostat, and Statistics Poland) in order to define structural patterns, shedding light on the overall integration of the country with the rest of the world. Materials and methods: The results show the structural evolution of the Polish economy, mainly in terms of its integration process within the EU Single Market. Results: The Single Market has indeed provided an urge for Poland’s integration. Conclusions: Poland can so far be considered a success story in the process of integration in the EU Single Market.

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Trade and the financial openness of the Polish economy in the context of economic growth – the perspective of EU membership

Cited by 2 publications

References 0 publications

Poland and global value chains at the beginning of the 21st century – An opportunity or a threat?

Poland and global value chains at the beginning of the 21st century – An opportunity or a threat?

Poland in the European Union Single Market

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