The Global Financial Crisis, the Eurozone Crisis and Their Consequences for the Polish Economy
The Polish economy responded to the global fi nancial crisis diff erently than the remaining economies of Central and Eastern Europe (CEE). Although it lost some growth impetus, the positive growth rates were maintained during the crisis, thus rendering Poland, next to Australia, a rare case among the OECD countries. Why? By means of addressing this question, the specifi cities of four economies, i.e. the Czech Republic, Hungary, Poland and the Slovak Republic are examined and the roots behind the variability of their responses to the crisis are identifi ed. It is argued that the variability of responses to the crisis can be explained by reference to the diff erences in the transformation strategies employed in each of these countries, which resulted in diff erent levels of development, openness, and competitiveness. This infl uences respective economies' responses to shocks such as the .eurozone crisis and helps to explain the reasons behind Poland's sustained growth (original abstract)
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