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Costs and Benefits of Poland's EMU Accession: a Tentative Assessment

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  • Jakub Borowski

    (Macroeconomic and Structural Analysis Department, National Bank of Poland, ul. Swietokrzyska 11/21, 00-919 Warszawa, Poland.)

Abstract

This paper addresses the balance of costs and benefits arising from the adoption of the euro in Poland. It shows that given the present degree of economic integration between Poland and the euro area, the potential costs of relinquishing the monetary policy autonomy in Poland are likely to be modest. A tentative assessment suggests that the switch to the euro is expected to raise GDP per capita in Poland by 4%–7% in the long run. The paper concludes that, on balance, Poland is likely to benefit significantly from the EMU membership. Comparative Economic Studies (2004) 46, 127–145. doi:10.1057/palgrave.ces.8100036

Suggested Citation

  • Jakub Borowski, 2004. "Costs and Benefits of Poland's EMU Accession: a Tentative Assessment," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(1), pages 127-145, March.
    • Handle: RePEc:pal:compes:v:46:y:2004:i:1:p:127-145
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    Citations

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    Cited by:

    1. Yu Hsing, 2005. "Short-Term Output Fluctuations in Poland: An Application of the Is-Mp-As Model," The American Economist, Sage Publications, vol. 49(2), pages 44-50, October.
    2. Jesús Rodríguez López & José Luis Torres Chacón, 2007. "Following the Yellow Brick Road to the Euro?: Czech Republic, Hungary, and Poland," Eastern European Economics, Taylor & Francis Journals, vol. 45(6), pages 46-79, November.
    3. Slawomir Czech, 2015. "The Political Economy Of Staying Outside The Eurozone: Poland And Sweden Compared," Oeconomia Copernicana, Institute of Economic Research, vol. 6(3), pages 23-43, September.
    4. Svitlana Maksymenko, 2015. "The Cost of Euro Adoption in Poland," Working Paper 5779, Department of Economics, University of Pittsburgh.
    5. Andrew Hughes Hallett & Christian R. Richter, 2007. "Time Varying Cyclical Analysis for Economies in Transition," CASE Network Studies and Analyses 0334, CASE-Center for Social and Economic Research.
    6. Daras, Tomasz & Hagemejer, Jan, 2008. "The long run-effects of the Poland's accession to the eurozone. Simulation using POLDYN - a dynamic computable general equilibrium model," MPRA Paper 15760, University Library of Munich, Germany.
    7. Czerniak, Adam & Borowski, Jakub & Boratyński, Jakub & Rosati, Dariusz, 2020. "Asset price bubbles in a monetary union: Mind the convergence gap," International Review of Economics & Finance, Elsevier, vol. 67(C), pages 288-302.

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