Global Long-term Economic Growth and the Economic Transformation of Poland and Eastern Europe

Opis

Global Long-term Economic Growth and the Economic Transformation of Poland and Eastern Europe. One of the characteristic facts concerning the ?catching-up countries? is the exceptionally large variation in their per capita annual rate of growth, from about zero to about 10%. The papers published in this monograph show that this rate is strongly dependent on the rate of investment, the quality of the labour force and the quality of institutions. The rate of investment is, in turn, dependent on the rate of domestic savings. In Poland, domestic savings are shown to have been and continue to be very low by international standards. The trend rate of growth of about 3.7% has been about 2 pp. highe