Michał Gabriel Woźniak
Poland's economic challenges in the context of globalization and regionalisation
Journal of European Economy, Volume 6, Issue 1, March 2007, pp. 27-47
|JEL: O4, O52||Full text (PDF)|
In the integrating and globalising world where huge capital and information necessary for rational decisions circulate very easily and with enormous speed, the real and regulatory processes in Poland are increasingly dependent on what is happening in the world economy. However, the convergence in the economic development requires prompt diffusion of the knowledge-basedeconomy models. This process is, however, associated with increasing risk of economic ventures, as well as the risk of economic security of the people with less ability to adapt. Qualitative adaptation of human capital is necessary to counteract the negative implications of globalisation and European integration. At the same time, increases in the accumulative capacity of the Polish economy and the efficiency of investments in physical capital (as well as modernization of traditional sectors by creating new workplaces, developing economic infrastructure, small and medium-sized enterprises sector, rural areas and residential building through diffusion of information and telecommunication technologies) should be taking place. Elimination of the barriers that complicate the realization of the abovementioned objectives by means of market mechanisms would be insufficient for the development of the knowledge-based economy. Thus, needed is the governmental policy for support, rationalization and creation of market mechanisms, and development of enterprise and innovation. To assure its coherence with market mechanisms and rationality in eliminating the threats of globalisation, this policy must be based on a long-term holistic strategy concentrated on increasesin productivity, human capital development and economically-justifiable and socially-accepted social inequalities.