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Globalisation and the Polish economy: macro and micro growth effects

In: Globalisation and deglobalisation

Author

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  • Piotr Szpunar

    (Narodowy Bank Polski)

  • Jan Hagemejer

    (Narodowy Bank Polski)

Abstract

We analyse the macro and micro effects of globalisation in Poland. We show that exports were a major contributor to economic growth in the transition period and after the 2004 EU enlargement. While exporting and foreign capital are associated with faster productivity growth at the sector level, we show that internationalised firms, both through exporting and foreign direct investment, perform better than non-internationalised firms. While this difference in performance between firms as well as a sizeable premium in capital/labour ratio manifest themselves in a large difference in average wages, we show that labour productivity-adjusted wages are in fact lower in exporters than in non-exporters, which can be associated with downward competitive pressure on wages.

Suggested Citation

  • Piotr Szpunar & Jan Hagemejer, 2018. "Globalisation and the Polish economy: macro and micro growth effects," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation and deglobalisation, volume 100, pages 273-289, Bank for International Settlements.
  • Handle: RePEc:bis:bisbpc:100-18
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    File URL: https://www.bis.org/publ/bppdf/bispap100_r.pdf
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    References listed on IDEAS

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    1. Jan Hagemejer & Marcin Kolasa, 2011. "Internationalisation and Economic Performance of Enterprises: Evidence from Polish Firm‐level Data," The World Economy, Wiley Blackwell, vol. 34(1), pages 74-100, January.
    2. Bernard, Andrew B. & Bradford Jensen, J., 1999. "Exceptional exporter performance: cause, effect, or both?," Journal of International Economics, Elsevier, vol. 47(1), pages 1-25, February.
    3. James Levinsohn & Amil Petrin, 2003. "Estimating Production Functions Using Inputs to Control for Unobservables," Review of Economic Studies, Oxford University Press, vol. 70(2), pages 317-341.
    4. Jan Hagemejer & Jakub Mućk, 2018. "Unraveling the economic performance of the CEEC countries. The role of exports and global value chains," NBP Working Papers 283, Narodowy Bank Polski, Economic Research Department.
    5. Jan Hagemejer & Joanna Tyrowicz, 2012. "Is the effect really so large? Firm‐level evidence on the role of FDI in a transition economy-super-1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 20(2), pages 195-233, April.
    6. Jan De Loecker, 2013. "Detecting Learning by Exporting," American Economic Journal: Microeconomics, American Economic Association, vol. 5(3), pages 1-21, August.
    7. David Greenaway & Richard Kneller, 2007. "Firm heterogeneity, exporting and foreign direct investment," Economic Journal, Royal Economic Society, vol. 117(517), pages 134-161, February.
    8. Jan Hagemejer, 2018. "Trade and Growth in the New Member States: The Role of Global Value Chains," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(11), pages 2630-2649, September.
    9. Havranek, Tomas & Irsova, Zuzana, 2011. "Estimating vertical spillovers from FDI: Why results vary and what the true effect is," Journal of International Economics, Elsevier, vol. 85(2), pages 234-244.
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