Daily Bulletin

Business Mentor

.

  • Written by Jenni Henderson, Editor, Business and Economy, The Conversation

Andrzej Rzonca, a Professor of Economics at the Warsaw School of Economics and member of the Monetary Policy Committee at Poland’s central bank, is visiting Australia at the moment. He’s here to learn more about our monetary policy woes but to share his views on Brexit and the ever growing tension between the United Kingdom and other members of the European Union.

Despite the differences between Poland and Australia, Rzonca says there are a lot of similarities: both countries managed to get through the financial crisis without too much damage but both are now vulnerable to external economic shocks, Poland through its open economy and Australia from its exposure to China.

Rzonca’s advice on improving Australia’s resilience to economic shocks is for the government to return public finances to a situation similar to that of before the global financial crisis.

His says the type of unconventional monetary policy that some countries have come to expect (such as quantitative easing) was helpful during the global financial crisis to support banks, but it’s now stifling the productivity and innovation needed for growth.

This low growth is contributing to inequality between EU states because poorer countries have been growing slower than richer ones, Rzonca says. While this requires policy reforms, thepolitical environment in Europe is not conducive to this.

In this podcast Rzonca refers to the Australian federal reserve, this is the Reserve Bank of Australia.

Also in this podcast in Ask an Economist, Richard Holden answers a question on what unemployment figures really tell us.

Authors: Jenni Henderson, Editor, Business and Economy, The Conversation

Read more http://theconversation.com/business-briefing-what-australia-can-learn-from-a-polish-economist-68420

Business News

How any Australian business can generate huge leads from agency assisted CRO

Just how to get the most from an Australian business is something that continually has owners and management scratching their heads. The truth of the matter is that they are going about it in the ...

Daily Bulletin - avatar Daily Bulletin

Choosing the Right Mini Digger: Factors to Consider

In the vast landscape of construction and landscaping projects across Australia, mini diggers have become indispensable tools. These compact machines pack a powerful punch, offering versatility and ...

Daily Bulletin - avatar Daily Bulletin

Effective Strategies to Generate and Nurture Sales Leads for Business Growth

Boost your business's growth. Discover effective strategies to generate and nurture sales leads! A sales lead refers to an individual or business entity that is potentially interested in purchasing...

Daily Bulletin - avatar Daily Bulletin

Tomorrow Business Growth