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New Structural… NEW STRUCTURAL POLICY IN AN OPEN MARKET ECONOMY NEW STRUCTURAL POLICY IN AN OPEN MARKET ECONOMY Edited by: Justin Yifu Lin and Alojzy Z. Nowak University of Warsaw Faculty of Management Press WARSAW 2018 Reviewer: Professor Zofia Wysokińska, PhD, University of Łódź, Poland Editorial Supervisor: Jerzy Jagodziński Cover design: Agnieszka Miłaszewicz Translations: Grzegorz Grątkowski, Redacto Knit Agnieszka Zerka-Rosik “Publication co-financed from subsidies for maintaining research potential at the Faculty of Management at the University of Warsaw”. The Polish version of the book is available on the website: http://www.wz.uw.edu.pl/portale/wydawnictwo-WZUW/wydawnictwo/ produkt/30319/nowa-polityka-strukturalna-w-warunkach-otwartej-gospodarki- rynkowej © Copyright by Wydawnictwo Naukowe Wydziału Zarządzania Uniwersytetu Warszawskiego, Warszawa 2018 ISBN: 978-83-65402-91-2 ISBN (on line): 978-83-65402-92-9 https://doi.org/10.7172/978-83-65402-92-9.2018.wwz.10 Opracowanie komputerowe, druk i oprawa: Dom Wydawniczy ELIPSA ul. Inflancka 15/198, 00-189 Warszawa tel. 22 635 03 01 e-mail: [email protected], www.elipsa.pl Contents Contributors . 7 Preface (Mateusz Morawiecki) . 19 Introduction . 21 PART ONE Alojzy Z. Nowak What is the Future of the Global Economy? . 31 Kenneth Friedman, Ruth Taplin Free Trade or Unfettered National/Corporate Interest? . 43 Harald Sander A European Policy Agenda in and for the New Global Economy . 56 Andrzej Sopoćko Secular Structural Processes. Unexpected Results . 88 Kazimierz Ryć Control of Capital Against the Middle Income Trap . 111 PART TWO Justin Yifu Lin, Xiaobing Wang The Facilitating State and Economic Development: The Role of the State in New Structural Economics . 123 Grzegorz Jędrzejczak, Henryk Sterniczuk The Use of the New Structural Economics for Modernization and Increasing the Innovativeness of the Polish Economy . 142 Marian Górski, Patrycja Chodnicka-Jaworska The Process of Catching up with the Economic Development of OECD Countries and the Role of Foreign Direct Investment in this Process . 165 6 Contents Beata Kozłowska-Chyła Legal Environment for Foreign Investments in Poland . 187 Michał Kurtyka Can States Be Turned into Automotive Innovation Hubs? . 198 Bogdan J. Góralczyk Poland on the Route of the Chinese Silk Road: A Chance for Development or Just a Challenge? . 213 Contributors Patrycja Chodnicka-Jaworska – PhD in Economics, assistant professor at the Faculty of Management, University of Warsaw, in the Chair of Banking and Monetary Markets, author and co-author of over 100 scholar publications in Polish and English. Participant of conferences and seminars, both academic and field-specific (including those held by STERN, University of Oxford, University of Cambridge, London School of Economics). She has been involved in academic research in the area of banking risk management and has been member of a research team operating under the project “Regulatory determinants of pro-cyclicity in banks’ crediting activities” and carrying out studies funded by decision of the Director of the National Science Centre. She has also been heading several research projects, i.a concerning determinants of credit ratings made by financial institutions and states, the influence of changes in credit ratings upon the financial market operation, efficiency of the banking sector, and the risk of the banking sector bankruptcy. She has been member of foreign science committees, editorial teams of expert magazines and conferences; co-editor of a scholar magazine the Faculty of Management Working Paper Series. Member of ABSRC, IRMC, EAEPE. She has been distinguished with several awards and prizes, including a fellowship of the Minister of Science and Higher Education for outstanding achievements and merits for doctoral students (2012/2013); also awarded by the Congresses of Capital Market and the Competition of the 16th Scholar Conference of Young Economists. Kenneth Friedman – Professor at Regis University, Colorado, USA where he has been awarded for excellence in teaching. He is also the president of Clifton Mining, a micro-cap publicly-traded company involved in precious metals exploration and now receiving production royalties, and also in biotech, with a private corporation it founded producing the only patented and FDA- cleared nano-particle silver anti-pathogenic. He is the author of two books, Predictive Simplicity: Induction Exhum’d (Pergamon) and Myths of the Free Market (Agora), has published articles in physics journals and philosophy journals, and is the book review editor of Interdisciplinary Journal of Economics and Business Law. He received his 8 Contributors Ph.D. (philosophy) from M.I.T., an S.M. (physics) from M.I.T. and a M.A. (philosophy) from Harvard University. A recipient of an American Council of Learned Societies fellowship, he spent a year studying under Ilya Prigogine at the Free University of Brussels. He has been influenced by considerations of non-linearity. Bogdan Góralczyk – Professor in the Centre for Europe, University of Warsaw; expert in political science and sinologist. Former head of the Political Cabinet of the Minister of Foreign Affairs (2001–2003) and a diplomat for many years; in the years 2003–2008 Ambassador of the Republic of Poland in Thailand, Philippines and the Union of Myanmar (formerly Burma). Since 1 September 2016 Director of the Centre for Europe at the University of Warsaw. Regular commentator of TVN24 channel Biznes i Świat (Business and the World) and of the Institute for Citizenship; frequent guest of TOK FM radio. Publishes, e.g., in the portal of the National Bank of Poland “Obserwator Finansowy” and at wp.pl. Author of many books and articles about China and Asia, global problems and about Hungary, such as: Zmierzch i brzask. Notes z Bangkoku (Dusk and Dawn. Notes from Bangkok), Toruń 2009/2010; Chiński Feniks. Paradoksy wschodzącego mocarstwa (Chinese Phoenix. Paradoxes of the Rising Power), Warsaw 2010; Złota Ziemia roni łzy. Esej birmański (Golden Land Sheds Tears. An Essay in Burma), Warsaw 2011; Przebudzenie smoka. Powrót Chin na scenę globalną (The Dragon Awakens. China’s Return to the Global Scene), Warsaw 2012; Sun Yat-sen. Misjonarz rewolucji (Sun Yat-sen. The Revolution Missionary), Warsaw 2013. Editor and co-author of the following volumes: Polska-Chiny. Wczoraj, dziś, jutro (Poland-China. Yesterday, Today, Tomorrow), Toruń 2010 (English version 2014); Unia Europejska jako aktor na scenie globalnej. Razem czy osobno? (European Union as an Actor in the Global Scene. Together or Apart?), Warsaw 2014 (extended English version under preparation) and European Union in the Global Scene: United or Irrelevant?, Warsaw 2015. Lectures in Poland and abroad. Specialises in global and Asian issues (China, Burma-Myanmar, Thailand and Philippines), although his scope of interest also includes issues concerning the Diplomatic Protocol and cultural differences (naturally stemming from many years of his diplomatic experience and long periods spent abroad). Marian Górski – Professor of Economics; head of the Faculty of Financial Systems and of the Academic Unit for Banking and Financial Markets in the Faculty of Management, University of Warsaw. Specialised in finance, banking, macroeconomics, monetary policy. Author and co-author of many monographs Contributors 9 and scholar articles. His academic manual entitled System Finansowy Gospodarki (Financial System in the Economy) had three editions so far (2007; 2009; 2013). In the years 1990–1996 the Dean in the Faculty of Management, University of Warsaw, University of Warsaw. At present, member of the Senate of the University of Warsaw, president of the Senate Committee for budget and finance. He has been, both in the past and at present, involved in the economic practice. In the years 1991–2005 member and president of supervisory board one of Poland’s larger banks – BZWBK S.A. As partner in the consulting company Premium-econ in the years 1991–2003 he was advising to the Minister of the State Treasury and the Minister of Economy, among others. At present member of the Council for WIBID and WIBOR reference rates which supervises the market of inter-bank deposits in Poland. Grzegorz Jędrzejczak – Professor in the University of Warsaw, PhD in Economics. In the years 1989–1991 Undersecretary of State in the Ministry of Ownership Transformations responsible for creation of Polish capital market. In the years 1993–2013 employed in the World Bank in Washington, DC, in the Department of Private Sector Development and the Financial System of Europe and Central Asia and representative of the World Bank in Ukraine and Azerbaijan. Member of the Supervisory Board of Polish Foundation for Management Research and IBD Business School. Since 1980s successfully combines scholar interests with practical activities. Areas of his interests include: privatisation, creation of regulated capital markets, emergence of corporate culture in Poland and other countries under transformation from centrally-planned to market economy. Important fields of his practical and analytical activities include development programmes in developing countries and the potential for support from international organisations, with particular emphasis upon the World Bank. At present specialised in issues concerning conditions for the economic policy which promotes innovativeness in middle income countries and analyses of long-term opportunities and threats to Polish economy. Beata Kozłowska-Chyła – Doctor with post-doctoral degree in legal science;
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