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Globalisation and the Polish economy: macro and micro growth effects

Piotr Szpunar and Jan Hagemejer
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Piotr Szpunar: Narodowy Bank Polski

A chapter in Globalisation and deglobalisation, 2018, vol. 100, pp 273-289 from Bank for International Settlements

Abstract: We analyse the macro and micro effects of globalisation in Poland. We show that exports were a major contributor to economic growth in the transition period and after the 2004 EU enlargement. While exporting and foreign capital are associated with faster productivity growth at the sector level, we show that internationalised firms, both through exporting and foreign direct investment, perform better than non-internationalised firms. While this difference in performance between firms as well as a sizeable premium in capital/labour ratio manifest themselves in a large difference in average wages, we show that labour productivity-adjusted wages are in fact lower in exporters than in non-exporters, which can be associated with downward competitive pressure on wages.

Date: 2018
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Handle: RePEc:bis:bisbpc:100-18