Oddziaływanie terms of trade na wzrost gospodarczy w Polsce
The impact of terms of trade on economic growth in Poland
Author(s): Krzysztof MarczewskiSubject(s): National Economy, Financial Markets, Socio-Economic Research
Published by: Szkoła Główna Handlowa w Warszawie
Keywords: terms of trade; factors of economic growth; social welfare; Törnqvist index; decomposition method;
Summary/Abstract: The terms of trade have a significant impact on the balance of foreign trade turnover, the structure of GDP distribution, and social welfare. The article examines the impact of terms of trade on economic growth in Poland in welfare terms. The theoretical basis of the issue, simple indicators for measuring the impact of terms of trade on GDP, and the decomposition method of U. Kohli used in the study were discussed. The empirical part presents the results of calculations, compared to other factors of production, of the impact of terms of trade on the rate of Polish economic growth in the years 1995– 2020. The clearly positive contribution of the terms of trade to growth in the period following Poland’s accession to the European Union was found.
Journal: Studia i Prace Kolegium Zarządzania i Finansów
- Issue Year: 2022
- Issue No: 185
- Page Range: 9-21
- Page Count: 13
- Language: Polish
