Globalisation and the Polish Economy: Macro and Micro Growth Effects

17 Pages Posted: 13 Feb 2019

See all articles by Piotr Szpunar

Piotr Szpunar

Narodowy Bank Polski - Economic Analysis Department

Jan Hagemejer

National Bank of Poland; University of Warsaw - Faculty of Economic Sciences

Date Written: December 21, 2018

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.

Full Publication: Globalisation and Deglobalisation

Keywords: internationalisation, productivity, growth, wages

JEL Classification: L25, F23, F15, O12

Suggested Citation

Szpunar, Piotr and Hagemejer, Jan, Globalisation and the Polish Economy: Macro and Micro Growth Effects (December 21, 2018). BIS Paper No. 100r. Available at SSRN: https://ssrn.com/abstract=3332096

Piotr Szpunar

Narodowy Bank Polski - Economic Analysis Department

Poland

Jan Hagemejer (Contact Author)

National Bank of Poland ( email )

00-919 Warsaw
Poland

University of Warsaw - Faculty of Economic Sciences ( email )

Dluga Street 44/50
Warsaw, 00-241
Poland

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