The Impact of Poland's EU Accession on its Economy

The paper briefly discusses the main economic developments in Poland since its accession to the EU in May 2004 and sees how they relate to the regulatory environment and policies which the EU imposes on the member states. The paper starts with a brief description of principles, legislation and policies adopted in the EU, which influence the decisions made by the government, as well as entrepreneurs, investors, companies and workers. Next it discusses outcomes that were anticipated to occur as a result of the 2004 accession. Economic developments in Poland in two years of EU membership are presented in the last section. It starts with the macroeconomic performance, including economic growth and nominal convergence. The effects of Poland’s participation in the single market on Polish trade (goods and services flows), capital flows (foreign direct investments – FDI), and labor flows (and specifically migration to the EU-15) are also discussed. The size and destination of EU funds committed to Poland are presented. The final paragraph confronts the factual results of the economic processes, highlighting the public’s perception of Poland’s accession and their assessment of the outcomes both for their country and for themselves as individuals. Even though the paper concerns the recent period of 2004-2006 there are frequent references to developments that took place in Poland in the pre-accession period. This is because the country’s integration into the EU economy was a gradual and lengthy process which had formally been initiated in December 16, 1991 when Poland and the EU signed the Europe Agreement.The European Union, Poland, macroeconomic performance, labor migrations, FDI

Poland's enterprise environment - a Polish view

The paper briefly presents environment for business in Poland as of the end of the year 2005. A few comments, however, on its evolution in the course of the transition period are also made. The paper broaches administrative, legal and financial requirements to start and run business activities by both natural and legal persons. In addition, it presents government support schemes for investors. A brief description of the scope of the grey economy and corruption completes the picture of the business environment. The topic has been approached from the foreign investor's perspective. Although foreign investors are subject to the same laws as domestic (Polish) ones, in a limited number of cases they are treated differently than the latter. These cases, and specifically land purchase and employment of foreign citizens, are reviewed.business climate, industrial policy, state aid, grey economy, Poland.

Restructuring and Development of the Banking Sector in Poland. Lessons to be Learnt by Less Advanced Transition Countries

The banking sector in transition economies deserves a special attention of policy makers and the public. The first reason for this attention is that financial intermediation plays a special role in an economy: it channels financial savings of enterprises and households into investments. There is no economic growth in a country if this function is not executed in an effective and efficient way, and if the financial sector is not credible. Therefore reestablishment of a sound banking sector has been crucially important for transition countries. The second general reason is that banks are enterprises of a unique character due to the fact that their performance is important not only to shareholders, as it is the case for enterprises in all other economic sectors, but also to depositors. For that reason the public trust is essential for banking. While its creation is a long and comprehensive process, it is very easy to destroy it. The third reason, specific for transition economies, is connected with the very bad starting point. Under the communism allocation of funds by banks was carried out by outside orders and not by inside business decisions based on profitability and risk assessment. Therefore, at the start up of transition, in the sector of then state-owned banks there was neither know-how and business culture nor internal governance structures relevant for market economies. At the same time the banking sector was the terrain where the biggest change of culture and behavior was necessary in order to build its credibility. This fact made the task difficult and complex. The forth reason is that development of the banking sector in transition economies depends on both macroeconomic policy and microeconomic restructuring of enterprises. That is why it cannot be analyzed in isolation.transition economy, banking sector, central bank, commercial bank, bank privatization, entry, bank rehabilitation, bankruptcy, prudency, banking supervision

Liquidation of Private Firms in Poland, 1990-1994

The subject of this paper is an issue of liquidation of private economic units , especially its legal, social - economic and statistical views. First chapter of the paper describes legal regulations of foundation and liquidation in Poland. Second chapter deals with analysis of liquidation process of commercial and non-commercial companies - with its procedural, social and economic bearings. Data referring to establishment and liquidation of private enterprises in Poland in 1989 - 1994 are elaborated and presented in the third - statistical chapter.liquidation, economic transition, Poland, privatization

Differentiation of Innovation Behavior of Manufacturing Firms in the New Member States. Cluster Analysis on Firm-Level Data

This paper investigates the differences in innovation behaviour, i.e. differences in innovation sources and innovation effects, among manufacturing firms in three NMS: the Czech Republic, Hungary and Poland. It is based on a survey of firms operating in four manufacturing industries: food and beverages, automotive, pharmaceuticals and electronics. The paper takes into account: innovation inputs in enterprises, cooperation among firms in R&D activities, the benefits of cooperation with business partners and innovation effects (innovation outputs and international competitiveness of firms' products and technology) in the three countries. After employing cluster analysis, five types of innovation patterns were detected. The paper characterises and compares these innovation patterns, highlighting differences and similarities. The paper shows that external knowledge plays an important role in innovation activities in NMS firms. The ability to explore cooperation with business partners and the benefits of using external knowledge are determined by in-house innovation activities, notably R&D intensity.Innovation patterns of firms, strategy of innovation, innovation behaviour, innovation sources, taxonomies of innovative firms, EU new member states