Introduction 1: What are institutions and how do they drive economic growth? 2: From Black Death to black hole 3: What the Black Death was to Western Europe, Communism was to Central and Eastern Europe 4: Poland's transition success story 5: Drivers of Poland's successful transition 6: Fundamental sources of Poland's growth: The role of institutions 7: The role of culture, ideas, and leadership 8: Will Poland's success continue? Projections, scenarios, and risks 9: The new growth model for CEE: "The Warsaw Consensus" 10: Conclusions and the way forward
Prof. Marcin Piatkowski a Senior Economist at the World Bank and Associate Professor of Economics at Kozminski University in Warsaw. Previously, he was Chief Economist of PKO BP, the largest bank in Poland, Economist in the European Department of the International Monetary Fund (IMF), and Advisor to the IMF's Executive Director. He also served as Advisor to Poland's Deputy Premier and Minister of Finance. He holds a Ph.D. and habilitation in Economics from Kozminski University and an M.A. in Finance and Banking summa cum laude from the Warsaw School of Economics. He was a visiting scholar at Harvard University, London Business School and the OECD Development Centre.
The clarity of the author's reasoning is in fact one of the book's
greatest merits * Guzowski, Piotr, EH.Net *
Poland's economic success over the last three decades is nothing
short of remarkable. This insightful book shows how Poland owes its
success to its ability to build broadly inclusive economic
institutions, and traces the roots of ability to build broadly
inclusive economic institutions, and traces the roots of this
institutional transformation to the country's history, to its
political transition driven by its middle class, to the anchor that
the European Union provided, and to good political leadership. A
must read for anybody who wants to understand the process of
economic reform, especially today when we are witnessing the rise
of an authoritarian government in Poland threatening to reverse
some of these achievements. * Daron Acemoglu, Massachusetts
Institute of Technology, US *
An ambitious and successful effort at explaining the evolution of
Poland from feudalismto communism and to today' success story. Full
of insights, with deep lessons about development in general. A
pleasure to read. * Olivier Blanchard, Peterson Institute, US,
former Chief Economist of the IMF *
This highly readable book provides a comprehensive and novel
explanation of Poland's rise to the ranks of high-income economies
over the course of a single generation. The book will be essential
reading for economists and economic policy-makers, including those
in Poland, who face the daunting task of creating and implementing
a new economic model for the future. * Dale Jorgenson, Harvard
University, US *
Based on comprehensive comparative research and rich personal
experience, Piatkowski wrote a unique book on the post-communist
transformation to a market-based, democratic and civic society.
This is a tour de force on socio- socioeconomicchanges in Poland-a
country that almost 30 years ago initiated the historic process of
transition and was the most successful economy to cope with its
immense challenges. Piatkowski persuasively explains how this
happened and what is the likely future not only for Poland, but
also for the whole post-communist region and Europe. * Grzegorz W.
Kolodko *
Most countries in the world are trapped in poverty or middle-income
status. However, a country's destiny can change. Piatkowski
analyzes Poland's recent success of ascending from a relatively
poor to a high-income country in a generation's time. The book
provides both inspiration and useful lessons for countries still
struggling to change the fate of their nations. * Justin Yifu Lin,
Peking University, China, former Chief Economist of the World Bank
*
What did Poland do to become the most successful European economy
in the past thirty years? This brilliant and original book answers
the question and rekindles the debate on whether successful
economic development is driven by good institutions, good policies,
lucky geography . . . or all three. * Branko Milanovic, Graduate
Center City University of New York, US *
No country did better than Poland after the fall of communism. This
book dissects not just the specific policies that made this
successful transition possible, but also its deeper roots in
culture, institutions, and ideas-providing some surprising answers
along the way. Piatkowski has written a deeply hopeful book that
shows the way forward for Poland and other similarly situated
economies. * Dani Rodrik, Harvard University, US *
A new book on Poland's success, Europe's Growth Champion, by Marcin
Piatkowski, highlights a paradox. What outsiders saw, and Poles
bemoaned, in 1989 was indeed dreadful, a destitute country with
dire infrastructure, pitiful wages, clapped-out industry and
bankrupt public finances. But the deeper legacy of communism, the
book argues, was a positive one. . . . Mr Piatkowski's arguments
deserve careful consideration. The question of why some countries
get rich and others stay poor is the most important economic puzzle
of our times, and one that economists themselves struggle to solve.
* Edward Lucas, The Times *
A deep, surprising and cleverly written book about Europe's untold
success story. * Tim Harford, author of Fifty Inventions That
Shaped The Modern Economy and The Undercover Economist *
Europe's Growth Champion is an in-depth analysis of why and how
Poland has managed to build a competitive and inclusive market
economy just within one generation. Marcin Piatowski's careful and
theoretically sound analysis of what has and has not worked in
Poland is a great guide for any reformer-and the reassurance that
market reforms can deliver if correctly designed and implemented. *
Sergei Guriev, Chief Economist, European Bank for Reconstruction
and Development *
"Poland has entered its true Golden Age," writes Marcin Piatowski
in this lucid and stimulating account of Poland's transformation. *
Tony Barber, Financial Times *
Today, many take Poland's postcommunist economic success for
granted, but that was never true. Piatkowski underscores how
extractive Poland's old economic system was and how harmful its old
elite. He shows convincingly that Poland's transformation proves
that success is possible also where rent seeking is deeply
entrenched. But it requires a real shock that breaks the old system
and its ruling class. New institutions as well as a different
culture are needed and they can be built. * Anders Aslund, Atlantic
Council, Washington, DC *
One of the main reasons why countries in Central and Eastern Europe
are poorer than Western European countries is because they often
reverse important reforms. Poland is no exception in this regard,
this time around despite an enviable economic and social
performance since the transition and the historically unparalleled
anchoring that the European Union provides. This book not only
provides an excellent analysis of the fundamental factors that
brought about this unprecedented growth spurt in Poland, but it
also offers a strong hope that these factors will be robust enough
to prevent reform reversals and keep Poland on its rapid
convergence trajectory. I can only hope that the author is right
about this. A must read for economists, policymakers and
politicians in the region. * Istvan Szekely, Director, European
Commission, DG ECFIN *
Piatkowski's book provides the most thorough analysis so far of the
reasons behind Poland's economic successes since it embarked on the
transition to the market economy. Blending advanced economic
analysis together with a deep historical perspective, this book is
a great example of how contemporary economic methods can deliver
very fruitful insights and enlighten policy debates. * Prof. Gerard
Roland, E. Morris Cox Professor of Economics and Political Science
at the University of California, Berkeley *
Europe's Growth Champion. Insights from the Economic Rise of Poland
is a groundbreaking analysis, a pioneering work on post-communist
development in Poland and in Central and Eastern Europe, and a
crucial guide to understanding how to achieve developmental success
in the post-communist context. It should be read by anyone who is
interested in development and postcommunist economic transition in
Poland and beyond, or in root causes, institutional arrangements,
state policies and other factors of contemporary development
successes. * Andrzej Bolesta, United Nations Economic and Social
Commission for Asia and the Pacific, Europe-Asia Studies *
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