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Effect of Inflation on Poland’s Economic Growthin 2021-2022

Author

Listed:
  • Mariusz Pyra
  • Agnieszka Siedlecka

Abstract

Purpose: The present study is an analysis of inflation and economic growth. Its purpose is to present the impact of inflation processes on economic growth as well as to formulate the relationship between these two basic economic categories. Design/Methodology/Approach: Secondary information sources were used in the study, mainly economic reports, available literature on the subject, statistical data retrieved from the Polish Central Statistical Office (GUS), as well as EUROSTAT statistical information. Published sources were analysed and reviewed using a descriptive approach. Statistical data was analysed by means of the Pearson linear correlation coefficient and the linear and polynomial trend model. Findings: Statistical analysis confirmed the existence of a moderate relationship between the inflation rate and the economic growth index. The relationship is inverse, i.e. the higher the inflation rate, the lower the economic growth index. Practical Implications: A low inflation rate has a long-term positive impact on the rate of economic growth, vindicating the choice of price stabilisation as a goal of monetary policy. Originality/Value: The analysis of macroeconomic phenomena in the post-pandemic period seems to be necessary to explain the course of current economic processes. The lockdown has weakened national economies, but the relationship between inflation and economic growth has not changed its nature. Therefore, it seems justified to continue research on such relationships.

Suggested Citation

  • Mariusz Pyra & Agnieszka Siedlecka, 2022. "Effect of Inflation on Poland’s Economic Growthin 2021-2022," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 97-111.
    • Handle: RePEc:ers:journl:v:xxv:y:2022:i:4:p:97-111
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    References listed on IDEAS

    as
    1. EKINCI, Ramazan & TUZUN,Osman & CEYLAN, Fatih, 2020. "The Relationship Between Inflation And Economic Growth: Experiences Of Some Inflation Targeting Countries," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 24(1), pages 6-20, March.
    2. Paweł Baranowski, 2005. "Wpływ inflacji na inwestycje w kapitał rzeczowy w krajach Unii Europejskiej," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 11-12, pages 19-30.
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    More about this item

    Keywords

    Inflation; economic growth; CPI; GDP.;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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