What is it about?

The purpose of this paper is two-fold: to determine the trends of Poland’s integration with the world economy in comparison with the corresponding world-wide trends; and to identify policy implications and suggest policy models to be considered in relation to the observed trends. Analysis is confined to world trade and foreign direct investment, which are of critical importance as far as Poland’s participation in the global economy is concerned. In a wider context, the role of foreign capital and the country’s share in international trade have always been the key development issues for all the transition economies of Central and Eastern Europe (CEE).

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Policy recommendations stemming from the integral model boil down to the following: • the primary objective of economic policy should be to support building competitiveness of firms; and • this economic policy should not discriminate between producers selling in export markets and those operating in the domestic market only. In the end, it is imperative to stress that the policy implications outlined above only “scratch the surface” of these important and complex issues. Further research is needed into various policy models, approaches and instruments that might be applicable to the specific situation of Poland and other transition economies as they attempt to embrace and absorb the complex process of globalization.

Marian Gorynia
Uniwersytet Ekonomiczny w Poznaniu

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This page is a summary of: Globalization of a Transitional Economy, Journal of East-West Business, February 2004, Taylor & Francis,
DOI: 10.1300/j097v09n02_03.
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