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Polish Case

In: Business and Management

Submitted By Dino224
Words 413
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1. How was Poland able to avoid the worst effects of the economic crisis that gripped most of Europe during 2008-2009?

After becoming a Democratic country, Poland has privatized many state-owned businesses, deregulated its economy, and received foreign direct investment. Entering the EU eased Poland to improve its exportations to the markets of Western Europe and transform into a major exporter. A combination of tight monetary policy and restrained government spending put Poland in a strong position to weather the financial crisis that swept around the globe in 2008–2009.

2. What lessons can be derived from the Polish experience during 2008-2009?

A tight monetary policy may help avoid the worst part of an economic crisis and having good commercial partners is also a great way to weather it.

3. From the perspective of international business, what is attractive about the Polish economy? What are the weaknesses and risks associated with doing business there?

Poland can be attractive to invest because it is a fast growing economy and its there is a 11 per cent unemployment so the labour force available to work is huge. However, tax laws are quite complex, tax rates very high and too much bureaucratic hurdles that makes difficult doing business there. It is also true that the government is in process of simplifying tax laws, reducing tax rates and removing bureaucratic hurdles to attract investors and rocket its economy. For example we can mention the Entrepreneurship Law that reduced dramatically the number of the controls that a company has to comply with.

4. Even though Poland has been committed to liberalizing its economy since the collapse of communism in 1989, significant vestiges of the old system still remain. Why do you think it has taken Poland so long to transform its economic, political and legal systems?

I think that changing…...

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