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Terms of trade and economic growth in Poland in the period 1980?–2009 (Terms of trade i wzrost gospodarczy w Polsce w okresie 1980?–2009)

Author

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  • Piotr Misztal

    (Uniwersytet Technologiczno-Humanistyczny w Radomiu)

Abstract

This article aims to analyze the impact of changes in terms of trade and terms of trade volatility on economic growth in Poland in the period 1980?2009. The results of tests using the vector autoregressive model (VAR) revealed that improved terms of trade in Poland led to increased dynamics of GDP per capita, while the increase in terms of trade volatility reduced the growth rate of GDP per capita in Poland. In addition, there was confirmed the greater impact of changes in terms of trade, than the terms of trade volatility on the dynamics of economic growth in Poland. It was also demonstrated that the change in terms of trade and volatility of terms of trade, explained in a similar degree the variation of GDP per capita in Poland in the period 1980-?2009.

Suggested Citation

  • Piotr Misztal, 2012. "Terms of trade and economic growth in Poland in the period 1980?–2009 (Terms of trade i wzrost gospodarczy w Polsce w okresie 1980?–2009)," Research Reports, University of Warsaw, Faculty of Management, vol. 1(14-15), pages 16-24.
    • Handle: RePEc:sgm:resrep:v:1-2:i:14-15:y:2012:p:16-24
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    File URL: http://www.sim.wz.uw.edu.pl/sites/default/files/artykuly/sim_2012_1_misztal.pdf
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    More about this item

    Keywords

    terms of trade; economic growth; vector autoregressive model Commission; negotiations; synergy; Friedman; Keynes; Obama;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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