Chapter

A Two-thirds Rate of Success

Grzegorz W. Kolodko

in Development Success

Published in print November 2012 | ISBN: 9780199660704
Published online January 2013 | e-ISBN: 9780191748943 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199660704.003.0013

Series: WIDER Studies in Development Economics

A Two-thirds Rate of Success

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Progress in achieving institutional changes should be evaluated through the prism of their influence on the development abilities of the relevant country. In Poland, during 20 years of comprehensive systemic shift, GDP increased more than in any other post-socialist country. To judge the transformation progress, it is not enough to review improvements in competitiveness or in growth in terms of quantity, but also social and cultural aspects should be taken into account. In Poland, there have been five distinct periods from the viewpoint of economic growth. Had there been a better policy co-ordination of systemic change and socioeconomic development, GDP growth over the periods considered could have increased by more than half. This opportunity was missed because of the intermittent implementation of wrong economic policies based on wrong economic theories. Poland's transformation can be seen as a success, but only to the extent of achieving two-thirds of its potential

Keywords: transformation; economic growth; development; institutions; economic policy; post-communist period; Poland

Chapter.  9275 words.  Illustrated.

Subjects: Economic Development and Growth

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