Poland's Integration with the Eurozone - Opportunities and Challenges

• Autorzy: Andrzej Kaźmierczak
• Języki publikacji: EN

Abstrakty

EN

Currency integration between Poland and the EU will be connected with both benefits and economic costs for Poland. Joining the euro will facilitate an inflow of foreign investment into our country and a development of economic cooperation with abroad. Competition at the national financial market will toughen, resulting in positive changes for the economy and the society. But the cost of currency integration is high too. Following its access into the eurozone, Poland will loose important instruments of monetary policy, used by our central bank to influence the condition of the economy and the level of employment. It is probable, that the unemployment will increase further. It can also be expected, that instead of reducing the gap in economic development between Poland and the old EU members, a hasty accession into the eurozone might consolidate it. Therefore, it is justifiable to delay the process of Poland's joining the euro. It would be recommended to first complete the market reforms in order to create a fully mature, open and competitive economy, where the market mechanism of capital allocation is efficient. The above is a basic condition for reducing the economic distance between Poland and the more developed countries of the European Union.(author's abstract)

Słowa kluczowe

EN

Economic and Monetary Union (EMU); Money; Euro; Financial policy

PL

Unia Gospodarcza i Walutowa (UGW); Pieniądz; Euro; Polityka finansowa

• Czasopismo: Studia i Prace Kolegium Zarządzania i Finansów / Szkoła Główna Handlowa
• Rocznik: 2005
• Numer: z. 53
• Strony: 9--17

Twórcy

autor

Andrzej Kaźmierczak

• Szkoła Główna Handlowa w Warszawie

Bibliografia

• "Raport o inflacji w I kwartale 2003 roku", Wydawnictwo NBP, September 2003, p. 26.
• Revising the fiscal deficit-inflation puzzle, "IMF Survey", No. 10, 2/6/2003.