Tomasz Kijek and Małgorzata Markowska
This chapter deals with the issue of the role of imitation and innovation in explaining economic growth in the context of the Polish economy, taking the endogenous growth theory…
Abstract
Research Background
This chapter deals with the issue of the role of imitation and innovation in explaining economic growth in the context of the Polish economy, taking the endogenous growth theory and the technology catch-up theory as guidelines. This issue is extremely important as Poland faces the urgent need to reduce productivity gap through investments in R&D and/or the absorption of foreign technologies.
Purpose
The aim of this chapter is to find the effects of innovation and imitation on economic performance of Poland and shed light on possible outcome differences between these two kinds of activities.
Methodology
The empirical analysis uses data on innovation, imitation and Gross Domestic Product (GDP) of the Polish economy between 2005 and 2021, collected from a few statistical sources. We apply the autoregressive distributed lag (ARDL) model to find the impact of innovation and imitation on economic growth.
Findings
The results suggest that R&D investments positively affect economic performance of the Polish economy, whereas the impact of imitation activities on GDP appears to be insignificant.
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Arkadiusz Kijek and Bartosz Jóźwik
EU countries, including those in Central and Eastern Europe, seem to have increasingly similar economies, allowing for the study of real convergence as a process of equalising…
Abstract
Research Background
EU countries, including those in Central and Eastern Europe, seem to have increasingly similar economies, allowing for the study of real convergence as a process of equalising income levels (measured by GDP per capita). Studies of income convergence in the European Union also have a regional dimension and often focus on convergence at the NUTS2 or NUTS3 regional level. The level of development and income in Polish regions differ significantly. The regional policy implemented at the national and EU level focuses on reducing these differences.
Purpose of the Article
The main aim of the chapter is to analyse the income convergence process among regions in Poland and verify the effectiveness of regional policy implemented at the national and EU level.
Methodology
The study uses Barro type regression for panel data, log t convergence test, and club clustering algorithm introduced by Phillips and Sul to identify patterns of club convergence in Polish regions. The data used for the study is the Local Data Bank provided by Statistics Poland, which includes gross domestic product per capita at the NUTS-3 level for 73 Polish regions over the period of 2000–2020.
Findings
The results of the study indicate a very weak convergence process for all Polish NUTS-3 regions and suggest a club convergence. The club convergence is characterised by regions with similar income levels clustering together. The regional distribution of clubs is similar to the regional distribution of income. The study's findings provide important insights into the effectiveness of regional policy in Poland and suggest that policymakers need to focus on policies that promote catch-up growth in less developed regions. The study also highlights the importance of supporting the most developed regions in the country as they can play a crucial role in driving the country's economic growth and prosperity.
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Polish agriculture is one of the main sectors of the national economy that, under the influence of political transformations and European integration, is subject to measures…
Abstract
Research Background
Polish agriculture is one of the main sectors of the national economy that, under the influence of political transformations and European integration, is subject to measures stimulating its development. The instruments of the Common Agricultural Policy (CAP) have been an important supporting stimulus.
Purpose of the Chapter
This chapter aims to evaluate the significance of the common agricultural policy to the growth and development of agriculture and to structural transformations therein triggered primarily by the influx of additional CAP funds.
Methodology
The agricultural sector was examined together with its selected characteristics in the context of CAP instruments' impact after 2004. Data included the streams of funding for Polish agriculture and indicators illustrating changes in structural features, economic performance and productivity of production factors. The indicators included changes in the number, structure and potential of farmsteads, changes in the level of employment in agriculture, this sector's share in total gross value added, profitability of farmsteads, capital expenditure level and changes in labour and land profitability compared with changes in the level of employment and agricultural production intensity. They were calculated based on data from EUROSTAT, Statistics Poland and Farm Accountancy Data Network (FADN).
Findings
The outcomes confirm that common agricultural policy has contributed to create development processes in Polish agriculture. Changes in the sector affected structural characteristics, production factors productivity and the income of agricultural producers. Since Poland joined the European Union (EU), the percentage of agricultural workers declined by 8.4 p.p. and the number of farms decreased by nearly 30%. These changes were accompanied by a nearly twofold increase in agricultural labour productivity, 50% increase in land productivity and the profitability of land increased by 43%.
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Anna Matras-Bolibok and Piotr Bolibok
Innovation policy and innovation systems undoubtedly play a crucial role in shaping the path of economic development of contemporary economies. A particularly interesting context…
Abstract
Research Background
Innovation policy and innovation systems undoubtedly play a crucial role in shaping the path of economic development of contemporary economies. A particularly interesting context for studying the evolution of this area is offered by post-transition economies which had to undergo fundamental structural changes and face the global competition where the advances in knowledge and technological progress ultimately decide between success or failure.
Purpose of the Chapter
The chapter aims to portray and evaluate the key developments in the innovation policy and national innovation system of Poland – one of the largest and most successful post-transition economies.
Methodology
The methodological framework of the study involves a descriptive analysis of the major changes in the regulatory and institutional settings as well as an analysis of statistical data on the crucial dimensions of Poland's innovation policy and innovation system over the period 2000–2021. Additionally, the overall effects of the policy have been assessed using the data from the European Innovation Scoreboard (over 2015–2022) and the Global Innovation Index (over 2008–2022).
Findings
The findings suggest that the significant changes in Poland's innovation policy and innovation system frameworks introduced since the mid-2000s have resulted in a dynamic increase in the intensity of R&D efforts, especially in the business enterprise sector, allowing to narrow the structural gaps dividing the country from more advanced economies and markedly improve its overall research and innovative performance. A key role in this process has been played by the direct and indirect government support for innovative activities.
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Marek Angowski and Mariusz Sagan
The entrepreneurship ecosystem is one of the most important elements determining the conditions for the development of modern enterprises. The structure and tools of the system…
Abstract
Research Background
The entrepreneurship ecosystem is one of the most important elements determining the conditions for the development of modern enterprises. The structure and tools of the system are the subjects of research and analysis by practitioners and researchers dealing with the issues of entrepreneurship. The main objective of these studies is to search for the optimal use of the potential and opportunities of the enterprise sector in relation to current socio-economic problems.
Purpose of the Chapter
The purpose of the chapter is to present and discuss the possibilities of the impact of the entrepreneurship ecosystem on the development of enterprises in Poland.
Methodology
The analysis includes directions, support instruments and an assessment of the effectiveness of activities related to supporting entrepreneurship in Poland. To prepare the chapter, a review and analysis of literature, analysis of programs and documents as well as an analysis of statistical data describing the development of entrepreneurship in Poland were used.
Findings
Entrepreneurial ecosystems are an essential factor determining the development of entrepreneurship in Poland. There are visible problems related to the implementation of an effective entrepreneurial ecosystem. The experience and adaptation processes of institutions and organisations related to its functioning make the system and its elements work correctly.
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Anna Wawryszuk-Misztal and Tomasz Sosnowski
Poland generally has a homogeneous society, conservative towards changes and diversity. The corporate culture in Polish companies reflects this mindset, leading to a lack of…
Abstract
Research Background
Poland generally has a homogeneous society, conservative towards changes and diversity. The corporate culture in Polish companies reflects this mindset, leading to a lack of inclusion on the corporate board. Additionally, many companies may not fully understand the benefits of an inclusive workplace and legal requirements for gender diversity.
The Purpose of the Chapter
The main objective of the study is to provide a better understanding of the attitude of Polish companies towards diversity policies and reveal differences in actual and expected levels of gender diversity in corporate boards. Thus, we examine compliance with the gender diversity guidelines in the corporate governance code.
Methodology
Using a sample of 367 Polish companies listed on the Warsaw Stock Exchange, we study the composition of the management and supervisory boards to check if they meet the expected gender diversity criteria. We also look at companies' explanations for non-compliance with the main principles regarding diversity policy.
Findings
We find that the current composition of corporate boards of stock companies in Poland is male-dominated. Women represent only 12.72% and 17.12% of the management board and supervisory board members, respectively, and 68.94% (42.23%) of companies have no women on their management (supervisory) board. Moreover, only a small percentage of companies comply with the principles related to gender diversity. Qualifications, experience and education are pointed out as the most important criteria for decision-making on board appointments, with only 2% of companies applying gender as an additional criterion. The study suggests that larger companies are more likely to implement diversity policies.
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Artur Paździor, Wiesława Caputa and Izabela Krawczyk-Sokołowska
The Covid-19 pandemic and the war in Ukraine are a real example of how uncertainty can trigger radical changes in the socio-economic system on a macro and micro scale. The…
Abstract
Research background
The Covid-19 pandemic and the war in Ukraine are a real example of how uncertainty can trigger radical changes in the socio-economic system on a macro and micro scale. The indicated events contributed to the increase in the level of uncertainty, and its effects appeared in the real conditions of the functioning of international communities.
Purpose of the Chapter
The purpose of the chapter is to determine the impact of the Covid-19 pandemic and the war in Ukraine on the situation of Polish consumers and the resulting behaviour in the context of business–consumer relations.
Methodology
This goal was achieved through literature studies, analysis of changes in selected indicators of the economic situation and analysis of basic variables determining the relationships between consumers and suppliers.
Findings
The presented research results allow us to conclude that both the pandemic and war had an impact not only on the economic indicators but also the financial standing of households. We are seeing an increase in the differences between the nominal and real value of these incomes. Inflation is on the rise, forcing households to change their spending structure and look for savings. Of course, there have been and will be companies that do not have to be significantly affected by the effects of these events. In this group, companies related to the provision of IT infrastructure and specialising in establishing multidimensional relationships in the digital space should be pointed out.
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Anna Szelągowska and Ilona Skibińska-Fabrowska
The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic…
Abstract
Research Background
The monetary policy implementation and corporate investment are closely intertwined. The aim of modern monetary policy is to mitigate economic fluctuations and stabilise economic growth. One of the ways of influencing the real economy is influencing the level of investment by enterprises.
Purpose of the Chapter
This chapter provides evidence on how monetary policy affected corporate investment in Poland between 1Q 2000 and 3Q 2022. We investigate the impact of Polish monetary policy on investment outlays in contexts of high uncertainty.
Methodology
Using the correlation analysis and the regression model, we show the relation between the monetary policy and the investment outlays of Polish enterprises. We used the least squares method as the most popular in linear model estimation. The evaluation includes model fit, independent variable significance and random component, i.e. constancy of variance, autocorrelation, alignment with normal distribution, along with Fisher–Snedecor test and Breusch–Pagan test.
Findings
We find that Polish enterprises are responsive to changes in monetary policy. Hence, the corporate investment level is correlated with the effects of monetary policy (especially with the decision on the central bank's basic interest rate changes). We found evidence that QE policy has a positive impact on Polish investment outlays. The corporate investment in Poland is positively affected by respective monetary policies through Narodowy Bank Polski (NBP) reference rate, inflation, corporate loans, weighted average interest rate on corporate loans.
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There are many indications that government policymakers and supporters of large-scale nuclear expansion in Poland have not seriously grappled with arguments critical of this…
Abstract
Research Background
There are many indications that government policymakers and supporters of large-scale nuclear expansion in Poland have not seriously grappled with arguments critical of this direction of the country's power development. Instead, there is a mood of euphoric elation in these circles without even an attempt to reflect on why this kind of nuclear power is in a state of perennial crisis and lack of development prospects in Western countries.
The Purpose of the Chapter
The purpose of this chapter is to consider from an economic perspective the potential role of nuclear power in decarbonising the Polish power sector. It needs to answer two questions: why not develop large-scale nuclear power and why small modular reactors (SMRs) can be a better alternative for decarbonisation of the Polish power sector.
Methodology
The primary research method used in the preparation of this chapter is a critical analysis and synthesis of the literature on the subject.
Findings
A technological revolution will offer electricity customers increasingly better alternatives. Among them there is also technology of SMRs which seems to be much less risky option in terms of its compatibility with the direction of the power sector's evolution as well as cost of sectors’ decarbonisation.