Ryszard Rapacki

Real beta and sigma convergence in 27 transition countries, 1990-2005

The aim of this study is a detailed analysis of real economic convergence in 27 former socialist (or transition) countries. We focus on two concepts of convergence: absolute (unconditional) beta convergence and sigma convergence. The time frame of our study is 1990–2005. We provide a broad empirical picture of convergence. First, we analyse the catching-up process in the whole group of 27 countries as well as in several narrower sub-groups. Second, we carry out our calculations for the entire period 1990–2005 as well as for shorter sub-periods.

Fiscal Reform, Policy, and Constraints during Transition in Poland

Two specialists on the Polish economy examine the process whereby the fiscal system of Polands centrally planned economy was replaced during the 1990s by a system designed for a market economy. Changes in the structure of both revenues and expenditures are described. The authors demonstrate that fiscal authorities in Poland heretofore have maintained budget control despite radical changes in fiscal systems and institutions. However, they identify and assess emerging concerns regarding the ability of fiscal authorities to manage the economy in the face of external shocks, potential mismanagement of extra-budget expenditures such as social security, and increased debt-financing requirements. Journal of Economic Literature, Classification Numbers: E50, E60, H50, H60. 6 figures, 5 tables, 27 references.

Assessing the impact of the 2012 European Football Championships on the Polish economy

In this paper, we examine the impact of the UEFA EURO 2012™ on the Polish economy. The simulations are based on a dynamic computable general equilibrium (CGE) model and cover the years 2008–2020. We find that the main source of economic benefits is the acceleration of investments in transport infrastructure, which fosters growth of total factor productivity and the inflow of foreign direct investment. This contrasts with the results for more developed countries hosting major sporting events, where infrastructure effects are reported to be of less importance. Overall cumulative real GDP gains amount to 2.1% of the 2009 GDP level under the basic scenario.

Transition Countries: Economic Situation and the Progress of Market Reforms

The aim of this study is to assess current economic situation of 28 post-socialist countries in Europe and Asia undergoing systemic transformation towards an open market economy, their macroeconomic policies and the progress of structural reforms. We focus on the situation prevailing in 2008 and the changes against the previous year, though some estimates regarding future prospects are also included. The focus in this analysis is on the impact of the global economic crisis on macroeconomic performance in the countries of the region. We also present the most recent projections of the basic macroeconomic indicators for 2009 and forecasts for 2010 and 2014, assuming a gradual recovery of world economy from the current crisis.

Comments on Chapters 11 and 12

The contributions by Leigh et al. and Breuss differ in scope and focus. While the former relies mostly on ‘back casting’ and provides a broad comparative perspective on economic growth in transition and emerging economies, the latter looks forward and focuses on two particular countries, offering a useful analytical framework to study the impact of EU enlargement. The Comments suggest possible extensions and clarifications in the two chapters. The author however is fully convinced that they shed new light on the process of transition in Central and Eastern Europe and add to our understanding of the actual and potential effects the EU Eastern enlargement.

Poland's Exports of Licenses

Generally speaking, the structure of Polish licensing sales seems to be inadequate to the countrys level of development and existing scientific and technological infrastructre. The predominance of advanced capitalist countries as recievers of disembodied technology and the marginal share of less developed countries in Polands exports is also to some extent incompatible with overall trends prevailing in the international licensing market.