What is it about?
The potential accession to the euro zone is a very current issue for Poland. Its importance is increased by the consequences of the recent economic crisis that can be seen in the global economy and particularly in the economies of European Union member states. The paper finds that the analyzed sample of companies is dominated by euro-enthusiasts, who are aware of the opportunities and risks related to “euro-based” operation. Neutralization of the risks associated with entering the euro zone and companies’ ability to take full advantage of it should be supported by thoughtful economic policy actions. The proposed set of recommendations is very extensive, but some are highlighted in details.
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Why is it important?
In this paper the authors present selected findings and results from research conducted within the Ministry of Science and Higher Education research grant entitled “The influence of Poland’s entry into the euro zone on the international competitiveness and internationalisation of Polish companies”.
Perspectives
Poland’s prospective entry into the euro zone certainly ought to become the subject of an expert debate, free of emotion or political arguments. Such a debate is also necessary because there is a need for informing and educating Polish entrepreneurs and the whole of society about the consequences of Poland joining the euro zone. It is useful to refer to the results of reliable research and expert analysis, like the study conducted by Bukowski et al. (2010). The experts using the model presented that the combined effect of the economic mechanisms related to the introduction of the euro – changes in the level of transaction costs, exchange rates, interest rates and inflation – will be positive in the long-run. The impact of monetary integration on GDP is unambiguously positive. A lack of knowledge in this respect breeds unfounded fears and incorrect assumptions. What is somewhat worrying is the clearly visible implementation of the conception of a political economic cycle in Poland.
Marian Gorynia
Uniwersytet Ekonomiczny w Poznaniu
Read the Original
This page is a summary of: International competitiveness of Polish companies and the perspective of Poland joining the euro zone, Society and Economy, February 2014, Akademiai Kiado,
DOI: 10.1556/socec.36.2014.1.6.
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