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1. Economic policy, the international environment and the state of Poland’s public finances: Scenarios

Author:
Aleksander Łaszek
Publication Date:
03-2017
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Poland’s structural deficit is one of the largest in the EU. While other Member States are taking action to reduce their deficits, the Polish government has not only introduced costly projects, but has also announced additional projects that will further aggravate the state of Polish public finances. The aim of maintaining the nominal deficit under 3% of GDP, as declared by the government, is insufficient because it does not leave a margin of safety in case of an economic slowdown. In the meantime, the turbulent global economy and the structural challenges the Polish economy is facing make the scenario of an economic slowdown increasingly plausible. Dr. Aleksander Łaszek evaluates the government’s current policy through the lens of the challenges that stand a head of Polish economy, and its resilience to shocks, in the new mBank-CASE Seminar Proceedings "Economic policy, the international environment and the state of Poland’s public finances: Scenarios".
Topic:
Debt, Government, Finance, Economic growth, Trade, and Deficit
Political Geography:
Europe, Poland, and European Union

2. On Economic Growth in Europe, or, The Uncertain Growth Prospects of Western Countries

Author:
Aleksander Łaszek, Andrzej Rzońca, and Andrzej Halesiak
Publication Date:
11-2016
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Growth in the European Union since the outbreak of the global financial crisis is slower (1) than before the crisis, (2) than the trend would indicate, (3) than forecast and (4) than in the United States. The factors driving its weakness lie more on the supply side than the demand side. The loss of potential output after the crisis was exacerbated by inequalities from before the crisis; fiscal stimulus from 2007-2009, increasing public expenditure despite the lack of fiscal space; excessive liquidity support for banks; and inflexibility of the market for goods at the moment the crisis broke out. The problems with growth may deepen and become permanent if social support for anti-market parties continues to grow. Extremist parties are supported by divergence among the countries of the “old” EU and the slowdown of convergence in the new member states, as well as tendencies related to inequality, in particular the reduction of households’ mobility between income groups. The 144th mBank - CASE Seminar Proceedings consist of the main paper "On Economic Growth in Europe, or, The Uncertain Growth Prospects of Western Countries" by Andrzej Rzońca and Aleksander Łaszek and the commentary "Economic Growth in Western Europe: The Investment Perspective" by Andrzej Halesiak.
Topic:
Economic growth, Investment, Economic Policy, Macroeconomics, and Trade
Political Geography:
Europe, Western Europe, and European Union