PARTICIPANTS

Leszek Balcerowicz, Ewa Balcerowicz, Michael Boskin, Darrell Duffie, Bob Hall, Pete Klenow, Ed Lazear, Monika Piazzesi, Martin Schneider, Ken Scott, Maciej Siekierski, John Taylor, Johannes Stroebel, Mark Hafstead, Tim Landvoigt, Krishna Rao, Juliana Salomao, Edison Yu.

ISSUES DISCUSSED

Leszek Balcerowicz, former Finance Minister and Central Bank President of Poland, shared with the group his perspective on different paths for post-socialist transitions in Central and Eastern Europe. He began by outlining how economic outcomes as well as non-economic outcomes such as life-expectancy have diverged for different former Socialist countries since the fall of the Soviet Union. Balcerowicz explained these differentials by the interaction of three factors: (1) Differential initial conditions, (2) location and (3) differing degrees of market reform / privatization in the different countries. This last factor was most important to explain long-run differentials in economic growth.

Balcerowicz then discussed why Poland’s economy performed so much better than that of other countries during the recent financial crisis (Poland was the only country in Europe that did not have a recession). Firstly, Poland managed to avoid excessive credit build-up during the late 1990s and the early years of the new century. Secondly, with a relatively large domestic market, Poland was less dependent on international trade. Finally, Poland’s dependence on commodity exports was a lot lower than that of other countries in former Central and Eastern Europe.

Upcoming Events

Monday, September 23, 2024 3:30 PM
The Distinct Role of the Brazilian Supreme Court
For the past 20 years, the Brazilian Supreme Court has become one of the most influential political players in the nation. In the name of democracy… Shultz Auditorium, George P. Shultz Building
Tuesday, September 24, 2024 12:00 PM PT
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The Digitalist Papers: Artificial Intelligence And Democracy In America
On Tuesday, September 24th, 2024 at 12:00 PM PT, Stanford Institute for Human-Centered Artificial Intelligence will celebrate the launch of the… David & Joan Traitel Building, Hoover Institution
Tuesday, October 1, 2024 3:00 PM
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Increased Prosperity on a Livable Planet
Please join us for a fireside chat with Ajay Banga, President of the World Bank Group on Tuesday, October 1, 2024 at Hauck Auditorium, Hoover… Hauck Auditorium, Hoover Institution
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