Stabilization Policies and Structural Developments: Poland and the Crises of 1929 and 2008
This paper contrasts the impact of the 1929 and 2008 world crises on the Polish economy. Her much better performance during the recent crisis can be explained by two groups of factors: first, by very different stabilization policies and second, by distinct structural developments (resulting both from authorities’ structural policies and spontaneous processes). It is emphasized that several factors responsible for Poland’s superior performance during the 2008 crisis also contributed to her economic success vis-à-vis other European Union countries.
This working paper is a part of the CASE 25th Anniversary Papers series which features papers from the CASE 25th Anniversary Conference “The Future of Europe” (November 17-18, 2016). CASE 25th Anniversary Papers are sponsored by Narodowy Bank Polski, the patron of the conference.