BSSB.BE American Enterprise Institute 14/01/2019
EX-USSR EU Poland
* How can it best complete this transformation and facilitate its integration into the European Union?
Monday at AEI, Leszek Balcerowicz delivered remarks on transitions in Central Europe. He first reviewed the various types of institutional systems and the ways in which these systems can affect the quality of life. Then he defined three different kinds of bad transitions: completed, democratically reversed, and incomplete.
The text provides a thorough analysis of specific economic, political and institutional challenges faced by Central and Eastern European countries in their economic stabilisation and transition efforts. It offers a rare insight into the Polish ‘shock therapy’ co-designed and implemented by Balcerowicz himself.
- The author defends policy choices made and explains the interplay of economic and non-economic (including political) factors which shaped the reforms’ actual implementation. His account combing unmatched insider knowledge and thorough academic research is a must-read for anyone trying to understand the meanders of economic transition in European post-communist countries.
- Dr. Leszek then discussed the present state of Poland since 2015. Poland is among the fastest-growing economies in the EU. However, due to social transfers, the deficit is among the highest in the EU. Dr. Leszek predicts that the growth rate of the Polish economy will slow down significantly in the coming years.
Following its highly successful transition from communism, Poland elected the populist Law and Justice Party to power in 2015. This government has put the country on a collision course with the European Union, especially over immigration and the judiciary, and it has thrown into question the country’s commitment to the rule of law and free markets.
Professor Leszek Balcerowicz, the renowned architect of Poland’s economic miracle, will offer reasons why Poland has come to its present political pass. He will also discuss the implications of recent Polish developments for the country’s economic and political outlook and for the future of the European Union in Central and Eastern Europe.
- The publication is not an editorial. It reflects solely the point of view and argumentation of the author. The publication is presented in the presentation. Start in the previous issue. The original is available at: American Enterprise Institute