CANARIA, JERALDINE A.
BBC1200_CASE #3: POLAND: EASTERN EUROPE’S ECONOMIC MIRACLE
20191151969
BSMA 1D
POLAND: EASTERN EUROPE’S ECONOMIC MIRACLE
1. Why has Poland’s economic growth been so strong in the country’s post-Communist era?
Poland's economic growth has been strong in the post-communist era due to market-oriented
reforms, EU integration, strong macroeconomic policies, human capital, and geographic location.
Market-oriented reforms included the privatization of state-owned enterprises, liberation of
trade, and deregulation of many sectors of the economy, while access to the European Union
opened up access to a large market and provided opportunities for foreign investments and
trade. Strong macroeconomic policies have helped to create a stable and predictable economic
environment, while human capital has helped to attract foreign investment and foster
innovation. Poland's location at the crossroads of Europe has made it an attractive destination
for trade and investment, particularly in the transport and logistics sectors.
2. What are the lessons learned from the Polish experience that could be applied to other states
trying to achieve greater economic growth?
The Polish experience offers several lessons for other countries seeking to achieve greater
economic growth. These include market-oriented reforms, integration with the global economy,
macroeconomic stability, human capital development, and geographic advantage. Marketoriented reforms have been a key factor in attracting foreign investment and fostering
innovation, and Poland's accession to the European Union has opened up opportunities for
foreign investment and trade. Macroeconomic stability has helped to create a stable economic
environment that is attractive to investors, and human capital development has enabled Poland
to attract foreign investment and foster innovation. Geographic advantage has been a key
advantage in attracting trade and investment, and other countries could leverage their own
geographical advantages. Overall, the Polish experience demonstrates that a combination of
these strategies can be effective strategies for achieving economic growth.
3. What economic headwinds might Poland face going forward? What additional policies should
the government pursue to keep the economy on a stable footing and growing?
Poland is facing several economic headwinds that could impact its future growth prospects.
These include demographic challenges, structural issues, external factors, and rising
protectionism and geopolitical tensions. To address these issues, the Polish government could
invest in human capital, address structural issues, diversify the economy, strengthen social safety
nets, and enhance resilience to external shocks. These policies could help to mitigate the
challenges and grow the economy over the long term.