Economic Growth In Poland Research Articles

THE ROLE OF THE GREEN ECONOMY IN SHAPING ECONOMIC GROWTH IN POLAND

The aim of this paper is to examine and understand the impact of various green economy indicators on economic growth in Poland from 2010 to 2021. The study focused on a select number of indicators, including the final energy intensity of the economy, expenditures on environmental fixed assets in relation to gross domestic product (GDP), the share of renewable electricity in gross final electricity consumption, primary energy intensity of GDP, and the percentage of urban green areas. The relationship between green economy indicators and economic growth, expressed as gross domestic product per capita, was examined using regression analysis, time series analysis and correlation analysis. Data for the analysis were taken from the Central Statistical Office. Time trend analysis showed that the economy’s final energy intensity and the share of renewable energy improved steadily over the period under review, with a positive impact on GDP per capita. Correlation analysis demonstrated a robust inverse correlation between energy intensity and GDP per capita, along with a positive association between the share of renewable energy and economic growth. In linear and multiple regressions, the economy’s final energy intensity, expenditures on environmental fixed assets, and the share of renewable energy exhibited a significant impact on GDP per capita. The study’s conclusions underscore the necessity of sustained and intensified efforts towards a green economy in Poland, which is pivotal for ensuring long-term economic growth and sustainable development.

Ocena zależności między rozwojem branży leasingowej a wzrostem gospodarczym w Polsce

According to the data published in 2022 by the Polish Agency of Enterprise Development (Polska Agencja Rozwoju Przedsiębiorczości – PARP), small and medium-sized enterprises (SMEs) generate 49.6% of the Polish GDP. At the same time, the SME sector is the largest recipient of services offered by the leasing industry. The aim of the research described in the article was to determine whether a long-run relationship exists between the development of the leasing industry and the economic growth in Poland. The analysis was based on GDP per capita time series and the actual net value of leasing contracts per capita as measures of economic growth and the activity of the leasing industry, respectively. The research used quarterly data for the years 2010 –2021, obtained from Statistics Poland publications and the dataset available on the Polish Leasing Association (Związek Polskiego Leasingu – ZPL) website. The results of cointegration analysis and the error correction mechanism confirmed the existence of a long-run relationship between the activity of the leasing industry and the economic growth in Poland.

Banking Sector as a Long-Term Catalyst for Economic Growth in Poland

This study investigates the banking sector's influence on Poland's economic growth from Q4 2010 to Q1 2023. Employing the Autoregressive Distributed Lag (ARDL) model with an Error Correction Mechanism (ECM) and Granger causality, the relationship between the banking sector and economic development in Poland is explored. The model includes macroeconomic control variables such as inflation, interest rates, the domestic demand to GDP ratio, the general business climate index in the industry, and a dummy variable to account for the economic impacts of the COVID-19 pandemic and the Ukraine conflict. Findings show an inverse relationship between the bank assets to GDP ratio and GDP growth in the short run. At the same time, a positive correlation is observed in the long run, underlining the banking sector's essential role in Poland's economic progression. Additional banking variables like Return on Assets (ROA), Non-Performing Loans (NPL), and the ratio of equity to assets were analysed. However, only the bank assets to GDP ratio exhibited a statistically significant positive long-term effect on Poland's GDP. This research offers crucial insights into the complex interplay between the banking sector and economic growth in Poland, with particular emphasis on recent geopolitical and pandemic events.

The links between financial depth and economic variables: evidence from Poland

PurposeThe purpose of this paper is to examine the relationship that exists between financial depth and economic growth in Poland for the years 1995–2019. This paper utilizes integration and co-integration techniques to capture the long-term and short-term linkages between various determinants of financial deepening, economic growth and a few selected growth variables. Financial depth is measured using two distinct measures: the monetization ratio (i.e. the ratio of broad money in the economy to the gross domestic product (GDP)) and the domestic credit provided to private sector by banks.Design/methodology/approachThe paper uses a combination of Augmented Dickey–Fuller (ADF) and Phillips–Perron unit root tests, autoregressive distributive lag (ARDL) model and Granger causality tests to estimate results.FindingsThis paper finds that there is a bidirectional causal relationship between financial deepening and economic growth in the short run, but this relationship does not hold in the long run. The control variables comprising trade volume, investment, government spending and volatility in oil prices and inflation have a significant, positive relationship with economic development in the long run.Originality/valueThe findings are indicative of the need for further strengthening of the financial sector in Poland, such that the relationship between financial depth and economic growth is substantiated in the long run. This paper also finds room for more stringent regulation of the financial system and transparency in information available.

Decoupling Analysis of Energy-Related Carbon Dioxide Emissions from Economic Growth in Poland

This paper addresses the conditions behind energy-related carbon dioxide (CO2) emissions in Poland following its accession to the European Union. The study analyzed some energy, fossil fuel, economic, and environmental indicators, such as energy use, CO2 emissions, driving factors, decoupling elasticity status, and decoupling effort status. It relied on the Kaya identity and Logarithmic Mean Divisia Index (LMDI) in determining the drivers of CO2 emissions. As shown by the results, between 2004 and 2020, energy consumption in Poland grew at an average annual rate of 0.8%, while fossil fuel carbon emissions declined at 0.7% per year. Energy intensity was found to be the key force behind the reduction in CO2 emissions, whereas rapid economic growth was the main driver of CO2 emissions. While other factors, i.e., carbon intensity, energy mix, and population, also contributed to reducing the emissions, they had a much smaller—if not marginal—effect. In turn, the decoupling elasticity analysis showed that Poland mostly witnessed strong decoupling states, which means a strong decoupling of CO2 emissions from economic growth. Furthermore, it follows from the decoupling effort analysis that strong decoupling effort statuses prevailed throughout the study period, suggesting that the changes in the considered factors significantly contributed to reducing CO2 emissions. However, both the decoupling elasticity indices and the decoupling effort indices revealed the presence of an adverse trend. The above means that Poland witnessed a decline both in the strength of decoupling CO2 emissions from economic growth and in the efficiency of policies and measures designed to reduce CO2 emissions.

Analysis of the level of sustainability with the application of KPIS

Purpose: The purpose of the study was to analyze the essence of the concept of sustainable development and the level of fulfillment of one of the sustainable development goals of selected countries in comparison with the European Union based on a system of indicators. The level of fulfillment of Sustainable Development Goal 8 - decent work and economic growth in Poland and Slovakia was studied. Design/methodology/approach: The research methodology used a diagnostic survey method comparative analysis and, to gather data, content analysis and desk research techniques. Findings: As a result of the analysis carried out, it was found that surveillance using sustainable development indicators is fraught with various difficulties. An example of an inconvenience is: the need to standardize data for European Union countries and the lack of access or difficult access to adequate data in individual countries. In addition, the indicator method is characterized by certain generalizations and is fraught with subjectivity. However, the need for control and implementation of cyclical data analysis and information on the progress of implementation of the provisions of sustainable development in the member countries of the European Union is undeniable. Research limitations/implications: An identified limitation in the implementation of the presented research methodology is the potential shortcomings in the availability of data necessary to calculate indicators monitoring the degree of achievement of sustainable development goals and the different level of detail available within the countries of the European Union community. Practical implications: The results of the conducted research procedure provide factual knowledge that can support the process of creating future strategic plans to further the goals of sustainable development. Originality/value: The study completes the research gap concerning comparative analyses of the level of fulfillment of selected sustainable development goals by Poland and Slovakia in relation to the level that has been registered for the European Union. Keywords: sustainability, sustainability management, key performance indicators, sustainability indicators. Category of the paper: Research paper.

THE IMPORTANCE OF ACTIVATING ENTREPRENEURSHIP AND INNOVATION OF ECONOMIC AGENTS FUNCTIONING IN THE ECONOMY AND CONTEMPORARY TRENDS IN TEACHING ENTREPRENEURSHIP IN HIGHER EDUCATION

This article describes the key determinants of the importance and need for the activation of entre-preneurship and innovation for the effective development of economic entities in Poland and the improvement of market efficiency. The process of activating economic activity and creating innova-tion is possible primarily through the use of specific systemic solutions that improve the operation of economic entities, as well as various institutions functioning in their environment. In the context of effective development of economic entities, the issue of activation of innovativeness and entrepre-neurship is a particularly important determinant, as in this way it is possible to significantly in-crease the economic effectiveness of a given entity, improve its financial situation and, as a conse-quence, also increase tax revenues to the state and municipal budgets. On the other hand, it is also important to improve business-social relations between enterprises and state and local government bodies. Efficient implementation of programmes activating entrepreneurship and innovativeness is determined by the process of developing correlations and feedback in the area of cooperation be-tween enterprises, local government units and other institutions of closer and further business environment, including state authorities. Economic growth in Poland is to a large extent determined by innovativeness and entrepreneurship of local and national economic entities. Apart from that, in this article a diagnosis of contemporary trends in teaching entrepreneurship in higher education has been conducted on the example of characteristics of applied didactic methods at the Academy of Entrepreneurship in Warsaw. The aim of the didactic methods used at the university described in this article is, among others, shaping entrepreneurial and pro-innovative attitudes of students.

Product and process innovation patterns in Polish low and high technology systems

Research background: While the Sectoral Innovation System (SSI) anticipates technology-related similarities in innovation patterns in the same sectors across countries, the distance to the frontier suggests that there are important differences with respect to the level of national technological development. Most contemporary analyses of sectoral innovation systems are focused on well-developed economies. In contrast, the evidence from developing countries including new EU members are scared and lack dynamics. Purpose of the article: The purpose of this paper is to identify and compare product and process innovation patterns in Polish low and high technology systems. The main assumption is that divergence and convergence in innovation patterns of low- and medium-low technology (LMT) and high technology (HT) systems evolve over time and are strongly influenced by the characteristics of firms, their linkages with other system participants, existing demand, and institutional conditions. Methods: According to the third edition of the Oslo Manual (OECD, 2005), we employ a harmonized questionnaire and methodology to collect unique micro data on innovation. The survey concerns 5252 firms including 873 firms from HT sector. The scope of the research relates to product and process innovation at least new to the firm. Findings & value added: Our results show that although the intensity of product and process innovation is higher in HT system, both business support institutions and public financial instruments better support firms in LMT sectors. On the other hand, existing demand and market structure favor the emergence of new innovations at the firm level (imitations), but with more emphasis on LMT. The key source of innovation is suppliers, with foreign suppliers in HT and national ones in LMT. In contrast to leading economies, LMT plays a key role in long term economic growth in Poland.

The Impact of Renewable Energy Sources on the Economic Growth of Poland and Sweden Considering COVID-19 Times

A demonstration of the relationship between the share of renewables in gross marginal energy and selected countries’ economic growth is the basis of this research. The paper seeks to investigate mutual correlations between renewable energy sources and economic growth for two EU economies and how it influences their fluctuations (increase and decrease). The comparative analysis of results was carried out for less-income Polish and high-income Swedish economies. This research used a regression model to answer the research questions examining the presence of correlations between renewable energy sources in gross marginal energy consumption and economic growth. This study analyzes data starting from 1991 to 2022. The results indicated a positive correlation (statistical significance) between Gross Domestic Product and Gross National Income variables for Sweden (84.6% and 83.7%, respectively) and Poland (79.9% and 79.2%, respectively), which influence the use of renewable energy sources. The findings also reveal that the higher economic growth caused by the use of renewables is observed for the leading countries but at the same time the risk of a greater recession is much more likely than in other countries. These findings would help government officials and policymakers to better understand the role of renewable energy in the economic growth of these countries. This study has contributed to the literature on renewable energy sources and statistical reports under the EU energy sector framework.

The impact of the banking sector on economic growth in Poland ? an econometric analysis

The paper analyses the impact of the banking sector on economic growth in Poland. The aim of the paper was to analyse if the banking sector has a significant effect on economic growth in the case of Poland. Hence, the following hypothesis was formulated: there is a statistically significant relation between the development of the banking sector and economic growth in Poland. On the basis of the applied econometric methods, it has been possible to demonstrate that the banking sector?s development has an economically and statistically significant impact on economic growth in Poland.

The contribution of immigration from Ukraine to economic growth in Poland

From 2014 onwards Poland witnessed an unprecedented inflow of immigrant workers from Ukraine. Coupled with strong labour demand, this surge in labour supply provided a major contribution to Poland’s economic growth. However, due to problems with capturing immigration in Labour Force Survey data this contribution has remained hitherto largely unaccounted in official data. This paper uses a range of alternative official data sources to estimate the actual number of immigrants, and survey data on migrant characteristics, collected in four Polish cities, to estimate the effective labour supply of Ukrainian immigrants in terms of productivity-adjusted hours worked. The authors find that the arrival of Ukrainian workers was increasing the effective labour supply in Poland in 2013–2018 by 0.8% per annum. Imputing this additional labour supply in a growth accounting exercise they find that the (previously unaccounted) contribution of Ukrainian workers amounted to about 0.5 pp. per annum, i.e., about 13% of Poland’s GDP growth in 2013–2018. The same figure should be subtracted from the residual contribution of total factor productivity growth, suggesting that recent growth in Poland has been in fact much more labour-intensive than previously interpreted.

The use of haver analytics in the case of measure economic growth

This publication presents the results of the comparative analysis of economic growth in the United States and Poland using Harver Analytics. It takes into account factors such as GDP, industrial output, consumption expenditure, investment, exports and consumption expenditure of the government. The aim of the publication is presentation of differences between economic growth in Poland and USA.

The impact of budget deficit, public debt and education expenditures on economic growth in Poland

AbstractThis paper investigates the relationship between economic growth in Poland and a few metrics of fiscal policy: budget deficit relative to GDP, the structure of public debt, education expenditures, and public consumption. We prove that with constant values of parameters of fiscal policy, over time the economy converges to the balanced growth path which is unique and globally asymptotically stable.Having calibrated the model with statistical data, we demonstrate that in the period of 2000–2016 economic growth in Poland was driven primarily by rapid improvement in the level of human capital (at a rate of 5.4% per annum), and secondarily due to the accumulation of capital (2.7% annually). If recent trends in fiscal policy are continued, the Polish economy will converge to the balanced growth path with GDP growing at 3.7%. This rate may be boosted, if fiscal policy is appropriately adjusted, for example by permanent reduction in budget deficit. We also analyse the effects of changes in the financing structure of public debt. Finally, we present several scenarios of increasing public and private spending on education.

Macroeconomic Perspective on Urban Sprawl: A Multidimensional Approach in Poland

There are important relationships between the urban sprawl process and economic growth. They are usually expressed through spatial relations and changes taking place in the local, regional and national economy. The temporal and spatial dimension, including dispersed location, are the determinants of development and economic growth. Therefore, the urban sprawl phenomenon and the related location, hypothetically conditioning economic growth, should be subject to macroeconomic research. The article examines how urban sprawl affects the national budget and national economic growth. Unlike many studies where urban sprawl is studied by scattering the population around cities, we undertake more complex examination using buildings’ location. Urban sprawl, as we understand it, is a spontaneous spread of buildings around cities. To assess the spontaneity, we use a grid of squares with a side of 500 m. The squares are used to calculate the morphological indicators of urban sprawl. Therefore, quantified urban sprawl is one side of the equation; on the other side are macroeconomic variables. In this way, we examine the relationship between urban sprawl and the national budget and economic growth of Poland. The conclusions obtained are, e.g., urban sprawl does not have a negative effect on the national economy and the budget. This is a different conclusion from those thus far. There are also different conclusions on the regional level. Based on the research results, we formulate recommendations for national economic policy and spatial policy.

Protectionism of incompetence as a factor in blocking the improvement of the quality for domestic higher education

Protectionism of incompetence as a factor in blocking the improvement of the quality for domestic higher education

Fiscal harmonization in view of the Euro adoption: Economic implications for Poland

In this paper, we investigate the ex ante effects of fiscal policy harmonization that might be necessary for the adoption of the common currency on economic growth in Poland using a neoclassical dynamic two-sector general equilibrium model. We study two fiscal policy scenarios. In the first one, we adjust all taxes to German and EU-27 levels, respectively, while in the second one, we change only consumption taxes to German and EU-27 levels. We find that in the first scenario, the current Polish taxes yield the highest rate of growth due to lower capital taxation. However, in the second scenario, German and EU-27 taxes yield the highest rate of growth due to the lower consumption tax on capital-intensive good. From a policy perspective, our results suggest that fiscal policy with lower taxes on capital and capital-intensive goods can generate a higher rate of growth in the long-run. In the case of fiscal harmonization, our findings propose adopting only German or EU-27 consumption tax structure into the Polish tax system.

Restructuring of the Disability Pension Scheme Following a Concept of an Integrated Public Social Insurance System in Poland

Abstract The disability pension system in Poland has operated largely unchanged since the 1970s. A compelling need to reform the system and adjust it to the challenges of the 21st century is an axiom in the Polish social policy. Unfortunately, restructuring of this system has never been, and is not a top priority for the Polish government. Ignoring this problem is a headwind against economic growth in Poland as the state is overburdened with significant social taxes. A need for the state to provide subsidies to cover current expenditures of the Social Insurance Trust Fund (FUS) is a permanent concern of the national economy. This paper highlights legislative errors and omissions in the Polish social insurance system, and the share of the state's budget devoted to financing of this system and benefit payments over the years 1991-2018. In the main part of the article, financial aspects of the operation of the pension system in Poland were presented. At the end of the article, a preliminary concept of a reform of the existing disability pension system was outlined, whose aim is in particular to improve its financial effectiveness and introduce uniform rules for the payment of pension benefits in Poland.

A quantitative assessment of the impact of government activities on the economy of Poland

Government interventions and economic activities could have significant impacts on the economies of countries. Effective governance and quality institutions are required for sustainable economic growth in both developed and developing countries. The primary objective of this study was to analyse the impact of government activities on economic growth in Poland. The study followed a quantitative research approach, employing time series data from 1995 to 2017 including GDP as the dependent variable with variables such as government spending and debt, size and effectiveness of government, and the level of corruption as independent variables. The relationships between the variables were analysed by making use of an Auto Regressive Distributed Lag (ARDL) econometric model. The results indicated that there are both long- and short-run relationships between the variables. Other results indicated that government variables included in the study, caused changes in economic growth as assessed via a Granger causality analysis. A number of recommendations were listed which include inter alia, that effective government spending and management have a positive impact on the economy, while efforts to limit the levels of corruption also contributes to economic improvements in a country.

WPŁYW STRUKTURY FINANSOWEJ ZIB NA WZROST GOSPODARCZY W POLSCE

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 economic growth decreases, while the importance of reinvestment of earnings rises. In order to verify the hypothesis, the VECM model was used, supplemented with an extended reaction analysis. The research results confirm that among FDI components, mainly equities and reinvestment of earnings have a significant impact on GDP changes. In the short term, the inflow of equity has the most important impact on economic growth. In the long-time, the importance of equity decreases, while the importance of reinvestment of earnings rises.

Increased Employment Rates and the Nature of the Economic Growth in Poland’s Voivodships

The purpose of the article is to study the impact of basic production factors (level of employment and value of fixed assets) on the economic growth rate in different regions of Poland. The hypothesis presented in the article is that in the process of economic growth, the human factor (level of employment) plays a greater role than the fixed assets. The hypothesis was verified using the data published by the Central Statistical Office in the Statistical Yearbooks of the Regions for the years 2000 and 2015. The results of the study confirm the validity of the formulated hypothesis. Also, the author of the article made the effort to identify the voivodships characterized by extensive and intensive economic growth.