EconPapers    
Economics at your fingertips  
 

The Efficiency of Foreign Borrowing: The Case of Poland

Jacek Prokop () and Ewa Baranowska-Prokop

MPRA Paper from University Library of Munich, Germany

Abstract: The main objective of this paper is to examine the efficiency of foreign investment borrowing by Poland in the 1970s. That decade was of particular significance in the post-war history of Central and Eastern Europe. For the first time after the World War II, Poland – a major country in the socialist block – opened up to western economies by increasing foreign trade and by taking loans to finance the imports of modern technology and investments. Since there has been a major disagreement about the economic impact of the loans, we make an attempt to resolve this controversy. The considerations are conducted in a macroeconomic model. Based on the econometric analysis, we conclude that the efficiency of foreign investment borrowing was relatively high. It means that the policy of using external sources to finance economic growth was fully justified.

Keywords: foreign borrowing; efficiency of foreign debts; international indebtedness (search for similar items in EconPapers)
JEL-codes: F34 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/44976/1/MPRA_paper_44976.pdf original version (application/pdf)

Related works:
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:pra:mprapa:44976

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().

 
Page updated 2025-03-26
Handle: RePEc:pra:mprapa:44976