EconPapers    
Economics at your fingertips  
 

Poland’s exceptional performance during the world economic crisis: New growth accounting evidence

Michał Gradzewicz (), Jakub Growiec (), Marcin Kolasa (), Lukasz Postek and Paweł Strzelecki ()

No 186, NBP Working Papers from Narodowy Bank Polski, Economic Research Department

Abstract: Using a growth accounting exercise based on new estimates of flows of capital and labor services in the Polish economy during the period 1995-2013, we study the consequences of the recent global economic crisis for the observed pace and structure of economic growth in Poland – a converging open economy which itself did not contribute to the breakout of the crisis. We thus provide a supply-side explanation why Poland fared so well during the world economic crisis. According to our results, the exceptional performance of the Polish economy in 2008-10 was an effect of several favorable circumstances. In particular, and unlike other European countries, it recorded both a marked increase in capital deepening and an improvement in workforce composition. We also find that the recent recession has not exerted any significant impact on the efficiency with which economic resources are used for production in Poland.

Keywords: growth accounting; Poland; world economic crisis; real convergence (search for similar items in EconPapers)
JEL-codes: E2 O4 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5) Track citations by RSS feed

Downloads: (external link)
http://www.nbp.pl/publikacje/materialy_i_studia/186_en.pdf (application/pdf)

Related works:
Journal Article: Poland’s uninterrupted growth performance: new growth accounting evidence (2018) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpmis:186

Access Statistics for this paper

More papers in NBP Working Papers from Narodowy Bank Polski, Economic Research Department Contact information at EDIRC.
Bibliographic data for series maintained by Zbigniew Polański ().

 
Page updated 2019-07-15
Handle: RePEc:nbp:nbpmis:186