Poland's uninterrupted growth performance: new growth accounting evidence. Issue 2 (4th March 2018)

• Record Type: Journal Article
• Authors: Gradzewicz, Michał; Growiec, Jakub; Kolasa, Marcin; Postek, Łukasz; Strzelecki, Paweł
• Is Part Of: Post-communist economies. Volume 30:Issue 2(2018)
• Page Start: 238
• Page End: 272
• Publication Date: 2018-03-04
• Subjects: Growth accounting -- Poland -- real convergence -- productivity convergence -- human capital; Post-communism -- Economic aspects -- Periodicals; Russia (Federation) -- Economic conditions -- Periodicals; Europe, Eastern -- Economic conditions -- Periodicals; 330.91717
• DOI: 10.1080/14631377.2017.1398519
• Languages: English
• ISSNs: 1463-1377

Abstract

ABSTRACT: Since 1992 Poland has experienced an exceptionally long spell of output growth that was not interrupted even by the global economic crisis. Using a growth accounting exercise based on new estimates of flows of capital and labour services in the Polish economy during the period 1996–2013, we study the structure of this growth, highlighting the key role of certain supply-side factors. Most notably, unlike other European countries, the Polish economy recorded both a marked increase in capital deepening, a big improvement in workforce composition (driven mostly by educational attainment), and an uninterrupted process of productivity convergence. We also comment on the supply-side factors which contributed to Poland's relative resilience to the global economic crisis of 2007–2010.