Poland : Saving for Growth and Prosperous Aging

The recent financial crisis has emphasized the role of national saving for rising economic growth and promoting development. Since the crisis began, global markets have experienced deteriorating public finances, household deleveraging, differing speeds of recovery, and eroding confidence in financial systems, all of which have deterred long-term investments. In the context of this new growth agenda, the present report analyzes the trends and determinants of domestic saving in Poland and provides policy options for increasing saving, particularly over the long term. Improved national saving provides funding for a country to take advantage of more investment opportunities. From the microeconomic perspective, increasing national saving will support incomes in an aging society, helping address the issue of the adequacy of retirement incomes. However, increasing national saving involves also some costs, which should be carefully balanced against the potential benefits. In this context, the report is divided into seven chapters. Chapter one gives introduction. Chapter two presents recent trends and determinants of growth in Poland, as well as challenges for its long-term prospects. Chapter three discusses the determinants of and influences on the level of private saving. Chapter four complements this discussion by portraying the government's role in determining the level of saving in the economy. Chapter five discusses the importance of saving for the financial sector, its ability to promote saving, and instruments that may be promoted to meet the needs of Polish savers. Chapter six quantifies the impact of potential changes to the main determinants of saving on performance of saving and economic growth in Poland. Finally, chapter seven focuses on policy analysis.

Bibliographic Details

Main Author:	World Bank
Language:	English en_US
Published:	Washington, DC 2014-06
Subjects:	ACCESS TO CREDIT, ACCOUNTING, ADDITIONAL SAVINGS, ADEQUATE INCOME, AGING COUNTRY, ASSET ACCUMULATION, AUTOMATIC ENROLLMENT, BALANCE OF PAYMENTS, BALANCE SHEETS, BANK FUNDING, BANK LENDING, BANKRUPTCY, BANKS, BOND MARKET, BONDS, BORROWING, CALCULATION, CALCULATIONS, CAPITAL ACCUMULATION, CAPITAL FLOWS, CAPITAL GAINS, CAPITAL INFLOWS, CAPITAL INVESTMENT, CAPITAL MARKET, CAPITAL MARKETS, CAPITAL STOCK, CASH FLOW, COLLATERAL, CONSUMERS, CONTRIBUTION, CONTRIBUTIONS, CORPORATE BEHAVIOR, CORPORATE BOND, CORPORATE TAX, CREDIT RISK, CURRENCY, CURRENT ACCOUNT, CURRENT PRICES, DEBT, DEBT CRISIS, DEFERRED ANNUITIES, DEFERRED ANNUITY, DEFINED CONTRIBUTION PENSION, DEMOGRAPHIC, DEPOSIT, DEPOSITS, DEREGULATION, DEVELOPING COUNTRIES, DIRECT INVESTMENT, DISABILITY, DISPOSABLE INCOME, DIVERSIFICATION, DIVIDENDS, DOMESTIC CAPITAL, DOMESTIC CAPITAL MARKET, DOMESTIC CONSUMPTION, EARNINGS, ECONOMIC ACTIVITIES, ECONOMIC LIBERALIZATION, ECONOMIC MANAGEMENT, ECONOMIC PERFORMANCE, EMERGING MARKETS, EMPLOYER CONTRIBUTION, EMPLOYER CONTRIBUTIONS, EXCHANGE RATE, EXPORT MARKETS, EXPOSURE, EXTERNAL FINANCING, EXTERNAL SHOCKS, FERTILITY RATES, FINANCES, FINANCIAL BEHAVIOR, FINANCIAL CRISIS, FINANCIAL EDUCATION, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL LITERACY, FINANCIAL LITERACY CAMPAIGNS, FINANCIAL MARKET, FINANCIAL MARKET DEVELOPMENT, FINANCIAL MARKETS, FINANCIAL POLICY, FINANCIAL POSITIONS, FINANCIAL SECTOR, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL STABILITY, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FISCAL DEFICIT, FISCAL POLICY, FISCAL SUSTAINABILITY, FOREIGN ASSETS, FOREIGN BANKS, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE RISK, FOREIGN FINANCING, FUND INVESTMENT, GLOBAL FINANCIAL MARKETS, GROSS DOMESTIC PRODUCT, GROWTH RATE, GROWTH RATES, HEALTH SPENDING, HOUSEHOLD INCOME, HOUSEHOLD SAVING, HOUSEHOLD SAVINGS, INCOME LEVEL, INCOME LEVELS, INCOME TAX, INCOMES, INDIVIDUAL FIRMS, INDIVIDUAL PENSION, INDIVIDUAL PENSION ACCOUNTS, INDIVIDUAL PENSIONS, INDIVIDUAL SAVING, INFLATION, INTEREST PAYMENTS, INTEREST RATES, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTING, INVESTMENT DECISIONS, INVESTMENT GUIDELINES, INVESTMENT OPPORTUNITIES, INVESTMENT PROGRAMS, INVESTMENT STRATEGIES, JOB TRAINING, LABOR FORCE, LABOR MARKET, LABOR MARKETS, LIFE EXPECTANCY, LIQUIDITY, LIVING STANDARDS, LOAN, LOCAL CURRENCY, LONG-TERM CARE, LONG-TERM INVESTMENT, LONG-TERM SAVING, LOW INTEREST RATES, LOWER INTEREST RATES, MARKET ECONOMIES, MARKET ECONOMY, MARKET INFORMATION, MINIMUM PENSION, MINIMUM PENSIONS, MODERN BANKING, MONEY MARKETS, MORTGAGE, MORTGAGES, MUNICIPAL BONDS, NATIONAL BANK, OLDER WORKERS, OUTPUT, PASSIVE SAVING, PENSION FUNDS, PENSION REFORM, PENSION REFORMS, PENSION SAVINGS, PENSION SCHEME, PENSION SCHEMES, PENSION SPENDING, PENSION SYSTEM, PENSION SYSTEMS, PENSIONER, PENSIONERS, PRIVATE PENSION, PRIVATE PENSION FUNDS, PRIVATE PENSION PLANS, PRIVATE SAVING, PRIVATE SAVINGS, PRIVATIZATION, PRODUCTIVITY, PROSPERITY, PUBLIC DEBT, PUBLIC FINANCES, PUBLIC INVESTMENT, PUBLIC PENSION, PUBLIC PENSIONS, PUBLIC POLICY, PUBLIC SAVING, PUBLIC SAVINGS, PURCHASES, RATES OF RETURN, REAL ESTATE, REGRESSION ANALYSIS, REPLACEMENT RATE, REPLACEMENT RATES, RESEARCH ASSISTANCE, RETIRED, RETIREMENT, RETIREMENT INCOME, RETIREMENT INCOMES, RETIREMENT PENSION, RETIREMENT SAVING, RETIREMENT SAVINGS, RETURN ON SAVING, SALARY, SAVER, SAVERS, SAVING BEHAVIOR, SAVINGS INSTRUMENTS, SAVINGS RATES, SECURITIES, SENIOR, SKILLED WORKERS, SMALLER FIRMS, SOCIAL SECURITY, SOCIAL SECURITY CONTRIBUTIONS, SOVEREIGN DEBT, STATE PENSIONS, STOCK MARKET, TAX RATES, TAX SYSTEM, TERMINATION, TOTAL SAVING, TRANSACTION, UNEMPLOYMENT, VALUABLE, WAGE, WAGE GROWTH, WAGES, WITHDRAWAL, WORKING AGE, WORKING AGE POPULATION, WORKING LIFE, WORTH, YOUNG PEOPLE, YOUNGER COHORTS,
Online Access:	http://documents.worldbank.org/curated/en/2014/06/20291843/poland-country-economic-memorandum-saving-growth-prosperous-aging https://hdl.handle.net/10986/20441
Tags:	Add Tag No Tags, Be the first to tag this record!