National Bank of Poland

About: National Bank of Poland is a other organization based out in Warsaw, Poland. It is known for research contribution in the topics: Monetary policy & Interest rate. The organization has 231 authors who have published 756 publications receiving 8959 citations. The organization is also known as: NBP & National Bank of Poland.

On the Size Distribution of Business Firms

Abstract: The size distribution of business firms is explained using number and size of firms' constituent components. It is a lognormal distribution multiplied by a stretching factor which can lead to a Pareto upper tail. This result is confirmed empirically.

FDI and productivity convergence in Central and Eastern Europe: an industry-level investigation

Abstract: This paper presents empirical evidence of the effect of FDI inflows on productivity convergence in Central and Eastern Europe, using a new and harmonized industry-level data set. Four conclusions stand out. First, there is a strong convergence effect in productivity, both at the country and at the industry level. Second, FDI inflow plays an important role in accounting for productivity growth. Third, the impact of FDI on productivity critically depends on the absorptive capacity of recipient countries and industries. Fourth, there is important heterogeneity across countries, industries and time with respect to some of the main findings.

How does FDI inflow affect productivity of domestic firms? The role of horizontal and vertical spillovers, absorptive capacity and competition

Abstract: This paper examines the existence of externalities associated with FDI in host country by exploiting firm-level panel data covering the Polish corporate sector. The main findings are as follows: Local firms benefit form foreign presence in the same industry and in downstream industries. Absorptive capacity of domestci firms is highly relevant to the size of spillovers. Competetive pressure faciliates backward spillovers, while market power increases the extent of forward spilovers. Host country equity participation in foreign firms is consistent with higher unconditional productivity spillovers to domestic firms.

Information Acquisition and Learning from Prices Over the Business Cycle

Abstract: We study firms’ incentives to acquire costly information in booms and recessions to understand the role of endogenous information in explaining business cycles. We find that when the economy has been in a recession in the previous period, and firms enter the current period with a pessimistic belief, the incentive to acquire information is stronger than when the economy has been in a boom and firms share an optimistic belief. The cyclicality of the aggregate learning outcome is moderated by the price system, which transmits information from informed to uninformed firms, thus dampening information demand. Though learning from equilibrium prices acts to stabilize fluctuations by discouraging information acquisition, it can be welfare-enhancing to make information prohibitively costly to obtain.

How does FDI inflow affect productivity of domestic firms? The role of horizontal and vertical spillovers, absorptive capacity and competition

Abstract: This paper examines the existence of externalities associated with foreign direct investment (FDI) in a host country by exploiting firm-level panel data covering the Polish corporate sector We distinguish between horizontal spillovers (from foreign to domestic firms operating in the same industry) and two types of vertical spillovers: backward (from FDI in downstream industries) and forward spillovers (from FDI in upstream industries) The main findings are as follows Local firms benefit from foreign presence in the same industry and in downstream industries The absorptive capacity of domestic firms is highly relevant to the size of spillovers: vertical spillovers are larger for R&D-intensive firms, while firms investing in other (external) types of intangibles benefit more from horizontal spillovers Competitive pressure facilitates backward spillovers, while market power increases the extent of forward spillovers Horizontal spillovers are particularly strong in services, while the remaining results,