Will multinational enterprises contribute to Poland’s economic resilience and recovery during and post COVID-19 pandemic

Abstract

Being part of the integration grouping, Poland benefits from the geographic, cultural and cognitive proximity to the largest investors. Making reference to the vulnerability concept and the changing nature of globalisation, presenting stylised facts on foreign direct investment (FDI) and comparing FDI to other foreign capital flows – the paper aims to predict the role of foreign-owned entities (FOEs) in Poland in the process of the post-pandemic recovery. Referring to the performance of FOEs in the 2008 crisis and comparing the volatility of various foreign inflows, FDI shall be perceived as a factor stabilising Poland’s economy in a current pandemic slowdown and stimulating the post-pandemic recovery. FOEs reveal a premium over the domestic entities, and therefore their activity in Poland is expected to be helpful in the post-pandemic recovery. The paper formulates recommendations to attract foreign investors to Poland at the post-pandemic time.

Keywords:

• FDI
• globalisation
• FOEs
• recovery
• vulnerability
• resilience
• pandemic

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Notes on contributors

Stanisław Umiński

Stanisław Umiński, PhD, is a professor at the University of Gdańsk, Department of International Economics and Economic Development. Co-founder and Vice-President of the Institute of Development. BI consultant, ABSL, Poland. Participant and head of research projects on FDI, foreign trade and regional development, carried on for instance for European Commission, National Bank of Poland, Ministry of Regional Development, National Science Centre. Author and co-author of publications in the fields of FDI, competitiveness, the foreign trade of regions and special economic zones.

Aleksandra Borowicz

Aleksandra Borowicz, PhD, works as an assistant professor at the Department of Transport Policy and Economic Integration at the University of Gdańsk. In research she focuses on foreign direct investments and the economics of European integration. As a specialist in the application for and implementation of EU co-financed programmes, she is the head of post-graduate studies in managing EU funded projects at the University of Gdańsk. Aleksandra Borowicz is a member of the board in Polish European Economic Studies Association PECSA and since 2019 member of the Expert Team Europe at the European Commission in Poland.