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21. The Economic and Monetary Union: Past, Present and Future

Author:
Marek Dabrowski
Publication Date:
03-2019
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
Twenty years of euro history confirms the euro’s stability and position as the second global currency. It also enjoys the support of majority of the euro area population and is seen as a good thing for the European Union. The European Central Bank has been successful in keeping inflation at a low level. However, the European debt and financial crisis in the 2010s created a need for deep institutional reform and this task remains unfinished.
Topic:
Monetary Policy, European Union, Economy, Economic growth, Fiscal Policy, and Currency
Political Geography:
Europe, Poland, and European Union

22. Financing for the Polish economy: prospects and threats

Author:
Andrzej Halesiak, Ernest Pytlarczyk, Mariusz Wieckowski, and Stefan Kawalec
Publication Date:
06-2019
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
In a properly functioning economy, finance has important role to play in making main sectors of the economy – production, trade, services – to thrive. One of the most important – and often unappreciated – channels by which finance affects the processes taking place in the real sector is the selection of investment projects. It is banks and financial intermediaries that to a great degree decide which projects are carried out in the economy at a given moment, and which are not. If financial institutions are excessively conservative (which today is often an effect of the tight regulatory environment), they will prefer low-risk projects with high levels of collateral (e.g. mortgage loans). A financial system oriented this way will rarely be a source of problems, but at the same time not inclined to finance innovative projects with high potential to benefit the economy. Thus for any economy, a very important question is whether its regulatory framework smartly balances both of these aspects: financial system safety and the need to take on risk. When analyzing the functioning of the financial system, it’s worth noting the gradual blurring of certain traditional boundaries. While decades ago households were the main source of savings in the economy, and the borrowers were enterprises and the public sector, today both households and companies are on both sides, as suppliers and receivers of capital. The boundary between the functioning of banks and capital markets is also increasingly blurred. Today banks operate broadly through the capital market, both as acquirers of securities and as issuers. One area that has been developing dynamically in recent years is the flow of financial resources bypassing traditional intermediaries: direct lending through the peer-to-peer (P2P - direct financing of a project by business partners) and crowdfunding platforms (fundraising by collecting money online).
Topic:
Demographics, GDP, Financial Markets, Economy, Banks, Investment, and Trade
Political Geography:
Europe and Poland

23. Why do we need self-employed persons? Some economic reflections, mainly tax related ones

Author:
Adam Adamczyk, Leszek Morawski, and Jarek Neneman
Publication Date:
05-2019
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
For many years, we have been hearing about the need for innovation and entrepreneurship. Successive Polish government declare their support for entrepreneurs and expand the catalog of privileges, mainly related to taxes and mandatory contributions. Not infrequently, in these discussions the self-employed are equated with entrepreneurs. In this work, we will seek an answer to the questions: Who, then, are the self-employed? Are they really entrepreneurs? Should we support their activities? And finally the fundamental question: What does the economy get from the self-employed? In this work we point out that the differences in rates of self-employment between countries may result from differences in taxation on the labor provided by self-employed and salaried workers. In the main part of the work, taking advantage of the potential of the EUROMOD tax-benefit microsimulation model, we show that in Europe there is no single model of taxation of work conducted as one’s own business. In the majority of the tax-contribution systems we examined, the profitability of employment or self-employment changes along with changes in income. In light of the regressivity of the burdens on the self-employed, as a rule it begins to be profitable only above a certain income level. In the first part of the work we define the self-employed as those who run a business, and later we distinguish within this group entrepreneurs, meaning those who take on risk and create innovations. Discussing the advantages and disadvantages of self-employment from the point of view of the self employed and the employer, we point out that the benefits – including systemic (tax and contribution) benefits, outweigh the disadvantages. We also discuss in more detail the imposition of income tax on the self-employed. In the second part we present changes in the value of self-employment over the last 25 years. Here we use data from the World Bank and certain data points from the European Union Statistics on Income and Living Conditions (EU-SILC). They allow us to observe how the relationship between the self-employed and the economy is changing: The significance of services provided for other businesses is growing. Additionally, we can see that the significance of self-employment is falling. In Poland the level of (non-agricultural) self-employment is low. The dynamics of the rate of self employment indicate that the influence of legal regulations on the scale of self-employment is secondary. It seems that in this case, technological and demographic factors are much more significant.
Topic:
Demographics, Labor Issues, Employment, Business, Social Policy, Tax Systems, and Fiscal Policy
Political Geography:
Europe and Poland

24. Is Non-State Money Possible? mBank – CASE Seminar Proceedings No. 158

Author:
George Selgin
Publication Date:
02-2019
Content Type:
Special Report
Institution:
Center for Social and Economic Research - CASE
Abstract:
"Depending on how one interprets the question that forms the topic of my talk, one can argue that the answer is obvious, or one can argue just the opposite. In one sense of course, it’s obvious that non-state money is possible. That’s the sense in which we ask only whether some kinds of non-state money are possible. And of course, the answer is yes. The vast majority of payments today, in Poland as elsewhere, are made with privately produced forms of money – that is, with bank deposits of various kinds – transferable by cheque or using debit cards. And there is nothing surprising about that. But of course, my assigned question can also be understood in a different and more interesting way. The interesting question is not whether some kinds of non-state- supplied money are possible. It is a different question, or rather two different questions. One of these is whether non-state circulating monies, or currencies, are possible. Can we rely on the private sector to supply hand-to-hand circulating means of payment? The other even more fundamental question is whether we can have a complete monetary system in which all forms of money supplied privately, and the state plays no substantial regulatory role. In fact, I intend to argue that non-state supplied currencies are also possible, and that completely private monetary systems, in which the state plays no important part, are possible as well. Indeed, I will argue, not only that these things are possible, but that history offers examples of them. That is, they are not just hypothetically possible. I plan to spend much of my time talking to you about these historical examples of privately produced currencies and private or mostly private monetary systems. I wish not merely to make it clear that private currencies and mostly private monetary systems really have existed in the past, but to point out to you that these private currencies and monetary systems have often been entirely or at least highly successful. We might even envy them today, given the performance of our own relatively heavily regulated monetary systems." - Prof. George Selgin writes in the introduction.
Topic:
Monetary Policy, Economic growth, Banks, Trade, and Cryptocurrencies
Political Geography:
Europe and Poland

25. UN Human Rights Council Elections for 2020-2022 and the Responsibility to Protect

Author:
Global Centre for the Responsibility to Protect
Publication Date:
10-2019
Content Type:
Commentary and Analysis
Institution:
The Global Centre for the Responsibility to Protect
Abstract:
Today the UN General Assembly elected Armenia, Brazil, Germany, Indonesia, Japan, Libya, Marshall Islands, Mauritania, Namibia, Netherlands, Poland, Republic of Korea, Sudan and Venezuela to the Human Rights Council (HRC) for the 2020-2022 term. With the elections of Germany, Japan, Marshall Islands, Netherlands and Republic of Korea, 20 of the 47 Council members during 2020 will also be members of the Group of Friends of the Responsibility to Protect in Geneva.
Topic:
Human Rights, Ethnic Cleansing, Responsibility to Protect (R2P), and Atrocities
Political Geography:
Japan, Sudan, Indonesia, Poland, Libya, Brazil, Germany, Armenia, United Nations, Venezuela, Korea, Netherlands, Mauritania, Namibia, and Marshall Islands

26. Preemption: How Iran Is Reacting to the Warsaw Summit

Author:
FARAS
Publication Date:
01-2019
Content Type:
Commentary and Analysis
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
Following the announcement of hosting an international summit on February 13 and 14, 2019, Iran has launched a diplomatic offensive against Poland, where one of the conference main elements will be how to respond to the Iranian interventions in the region. In addition, Iran has also begun to take preemptive moves both to send messages to the powers concerned with the repercussions of those interventions and to tout its ability to contain the pressures of US policy. These moves include attempts to pivot to the East, particularly towards some neighboring countries, and hints at its ability to withdraw from the nuclear deal and resume its suspicious program again.
Topic:
Diplomacy, Nuclear Weapons, European Union, and Donald Trump
Political Geography:
Europe, Iran, Middle East, Poland, North America, and United States of America

27. The Mixed Fruits of Poland’s Freedom

Author:
Wawrzyniec Smoczynski
Publication Date:
10-2019
Content Type:
Special Report
Institution:
German Marshall Fund of the United States (GMFUS)
Abstract:
Thirty years after leading the democratic transition in Central Europe, Poland is struggling to uphold democratic institutions and discover a sense of political community.
Topic:
International Relations and International Cooperation
Political Geography:
Poland

28. Arrests in Poland Contribute to the International Controversies Surrounding Huawei

Author:
John Dotson
Publication Date:
02-2019
Content Type:
Journal Article
Journal:
China Brief
Institution:
The Jamestown Foundation
Abstract:
The December 1, 2018, arrest of Huawei chief financial officer Meng Wanzhou, and the arrest of another Huawei employee in Poland, come on the heels of a series of escalating measures—or measures under consideration—by governments in North America and the Pacific Region to restrict the use of Chinese-manufactured telecommunications equipment. Such measures are now increasingly under consideration in Europe, as well, with major implications not only for the international profile of companies such as Huawei, but also for the construction of advanced communications infrastructure throughout much of the world.
Topic:
Science and Technology, Cybersecurity, Economy, and Research
Political Geography:
China, Europe, Asia, Poland, North America, and United States of America

29. The ups and downs of Polish-German reconciliation and lessons for the Western Balkans

Author:
Adam Balcer and Klaus Ziemer
Publication Date:
11-2019
Content Type:
Policy Brief
Institution:
Europeum Institute for European Policy
Abstract:
In 2017, the Polish Ministry of Foreign Affairs established the “Reconciliation and Remembrance” seminar, which aims to share the experience of Polish-German reconciliation as an inspiration for improving relations between the Western Balkan nations and overcoming historical barriers. The project is implemented in cooperation with the Krzyżowa Foundation and the German Embassy. Certainly, Polish-German reconciliation may serve to a certain degree as a source of inspiration for the similar processes taking place in the Western Balkans.
Topic:
International Relations, History, Conflict, and Reconciliation
Political Geography:
Europe, Poland, Germany, and Balkans

30. Poland’s 2019 election: Bright prospects for the populist Right

Author:
Marco Siddi and Barbara Gaweda
Publication Date:
10-2019
Content Type:
Working Paper
Institution:
Finnish Institute of International Affairs
Abstract:
Poland’s incumbent party Law and Justice seems poised to win the election thanks to its welfare policies and the weakness of the opposition. However, its attacks on the independence of the judiciary and the media could further erode the rule of law and exacerbate disputes with the EU.
Topic:
Authoritarianism, Elections, European Union, Populism, Conservatism, and Rule of Law
Political Geography:
Europe and Poland