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Terms of Trade and Economic Growth in Poland in the period 1980-2009

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  • Piotr Misztal

    (The Radom TechnicalUniversity, Economics Department , Poland)

Abstract

The 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 test using the vector autoregressive model (VAR) revealed that improved terms of trade in Poland led to increased growth 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 changes in terms of trade and terms of trade volatility 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," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 15(45), pages 51-67, December.
    • Handle: RePEc:rej:journl:v:15:y:2012:i:46:p:51-67
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    References listed on IDEAS

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    Cited by:

    1. Trofimov, Ivan D., 2018. "Income terms of trade and economic convergence: Evidence from Latin America," MPRA Paper 87598, University Library of Munich, Germany.
    2. Ivan Trofimov, 2021. "Income terms of trade and economic convergence: Evidence from Latin America," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 46(2), pages 41-67, June.

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    More about this item

    Keywords

    terms of trade; economic growth; vector autoregressive model (VAR);
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General

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