Europe's Growth Champion: Insights from the Economic Rise of Poland

Europe's Growth Champion: Insights from the Economic Rise of Poland

Monday, 26 November 2018 - 5:00pm
Venue: 
Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Speaker(s): 
Marcin Piatkowski (World Bank)
Chair: 
Jan Zielonka (St Antony’s College, Oxford)
Convenor: 
Charles Enoch (St Antony’s College, Oxford)
Series: 
Political Economy of Financial Markets (PEFM)

Book presentation

Over the last twenty-five years Poland has transitioned from a perennially backward, poor, and peripheral country to unexpectedly join the ranks of the world's high income countries. Europe's Growth Champion is about the lessons learned from Poland's remarkable experience, the conditions that keep countries poor, and the challenges that countries need to face in order to grow. It defines a new growth model that Poland and its Eastern European peers need to adopt in order to continue to grow and catch up with their Western counterparts.

Europe's Growth Champion emphasizes the importance of the fundamental sources of growth– institutions, culture, ideas, and leaders– in economic development. It argues that a shift from an extractive society, where the few rule for the benefit of the few, to an inclusive society, where many rule for the benefit of many, was the key to Poland's success. It asserts that a newly emerged inclusive society will support further convergence of Poland and the rest of Central and Eastern Europe with the West, and help to sustain the region's Golden Age. It also acknowledges the future challenges that Poland faces, and that moving to the core of the European economy will require further reforms and changes in Poland's developmental character.

The lecture will present the key messages from the book on “Europe’s Growth Champion. Insights from the Economic Rise of Poland”, OUP 2018, including (i) why Poland and Central and Eastern Europe have been always underdeveloped, (ii) what were the drivers of Poland’s economic success after 1989, when it has become the fastest growing economy in Europe and in the world, among economies with a similar level of income, and (iii) what needs to happen for this success story to continue.

Marcin Piatkowski is a Senior Economist in the World Bank office in Beijing, China. Previously, he was a Visiting Scholar at Harvard University’s Center for European Studies, Chief Economist of PKO BP, the largest bank in Poland, economist in the European Department of the IMF and Advisor to IMF's Executive Director. During 2002-03, he served as Advisor to Poland's Deputy Premier and Minister of Finance, contributing to the fiscal reform program. Since 2000, he has taught economics at Kozminski University, the highest ranked business school in Central Europe. He holds a Ph.D. in Economics from Kozminski University and M.A. in Finance and Banking summa cum laude from the Warsaw School of Economics. He actively tweets at @mmpiatkowski.