Structural Challenges for Europe
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Structural Challenges for Europe

Edited by Gertrude Tumpel-Gugerell and Peter Mooslechner

The main thrust of the book is that the sharing of mutual experiences is important for generating an acceptable policy mix, both at EU and national levels. The contributors highlight key financial issues, including the role of FDI and of foreign banks in the still ‘under-banked’ acceding countries, the re-launch of social security systems and the fiscal challenges of financing the catch-up process. They also examine the ongoing EU debate surrounding the application of the Stability and Growth Pact in Central and Eastern European Countries (CEECs) and go on to explore the contrasting evidence that some CEECs have shown more extensive privatisation efforts than some EU countries.
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Chapter 22: The role of foreign direct investment in Poland's enterprise sector reform

Danuta Jablonska

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22. The role of foreign direct investment in Poland’s enterprise sector reform - ´ Danuta Jablon ska The history of foreign direct investment (FDI) flows to Poland since the early 1990s is a record of success. The political and economic system reforms, as well as transformations in Poland’s legislation, including first and foremost a harmonization with the European Union acquis, resulted in the emergence of a strong free market economy, exhibiting its growing ability to compete with other European economies. Owing to its accession to the OECD in 1996 and the prospective membership in the European Union, Poland has become one of the most attractive European economies. This fact has been reflected in FDI growth in Poland. With an FDI volume of USD 46.5 billion, Poland accounted for almost one-third of the total sum of USD 160 billion invested in the Central and Eastern Europe by the end of 2001. However, it takes only fifth position as regards the FDI per capita level, after the Czech Republic, Hungary, Estonia and Slovenia. By way of comparison, FDI per capita in the Czech Republic and Hungary is almost twice as high as in Poland. Also much higher is the FDI share in gross fixed assets expenditures in these two countries. As at the end of the 1990s, these expenditures accounted for 33.2 per cent in Hungary, 26.1 per cent in the Czech Republic and 15.1 per cent in Poland. This indicates that Poland’s economy has a large potential as regards the absorption...

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