Position of Poland and Polish Enterprises in the International Competitiveness Rankings

Abstract

The aim of the study is to assess the competitive position of Poland against the background of other countries around the world, in macroeconomic terms, based on the most popular international competitiveness rankings. The paper also attempts to determine the greatest strengths and weaknesses of the Polish economy. The analysis was conducted  based  on  rankings developed by the following international economic organisations: the World  Economic Forum, the World Bank, the IMD World Competitiveness Center and the Heritage Foundation. The study covered 2012-2016. The rankings are developed based on a diversified methodology, i.e. some of them attach greater importance to economic factors, others –  to  social or institutional conditions. It is, however, clear that the subjective and objective scope of relevant data enables these rankings to be considered as representative for the entire world and enables particular countries to be compared in terms of the competitiveness of their economies. As a matter of fact, these rankings cover issues of relevance to the competitiveness  of economies, economic freedom, a  start-up and  doing business environment. Having analysed  the position of Poland against the background of other countries around the world in the competitiveness rankings referred to above, it may be clearly stated that the greatest strength of the Polish economy, as far as its competitive potential in the contemporary world is concerned,  is the educational level of society and a high degree of respect for property rights. Poland's overall state of the economy is ranked relatively favourably as well. By far the greatest weaknesses of the Polish economy are as follows: the level of technological infrastructure, relatively low R&D expenditure, poor cooperation between science and practice as well as major impediments to doing business – bureaucracy, unstable commercial law, heavy procedures. That is why Poland is ranked fairly average in the international competitiveness rankings, primarily in knowledge- and innovation-based economic development rankings. The competitiveness of entities operating in the Polish economy may only be improved by State  authorities through greater organisational and financial incentives to stimulate the development of innovative processes, including primarily higher R&D expenditure and incentives for cooperation between production and scientific research entities, more stable and efficient operation of administrative bodies operating in production entities' environment.