English
Obserwator Finansowy features views and analysis of economy in Poland and other countries, written by some of the best journalists, economists and analysts. Our mission is to share knowledge of economics and financial markets in the world.
Obserwator Finansowy is a project under aegis of the Poland’s central bank, Narodowy Bank Polski. We have published thousands of articles about the Polish and global economy. Our journalists have conducted hundreds of interviews with Nobel laureates, distinguished economists, business leaders and politicians with views across the political spectrum.
In this section you can find selected articles in English.
Russia’s Great Escape
Barry EichengreenRussia’s government is doing all it can to evade Western economic sanctions, and at least some observers are positively impressed by its success.
We must hope that Ukraine will regain its economic strength
Jiří RusnokIt has been several weeks since the first news of Russian troops invading the sovereign territory of Ukraine shook the world.
Why Has Japan’s Cash Demand Remain Strong?
Sayuri ShiraiCash is a safe and highly liquid instrument for payment of goods and services and other transactions which is issued by a central bank.
Russia is too small to win the war in Ukraine
Paul De GrauweRussia is a small country. From an economic perspective, that is. According to the IMF, the country’s GDP amounted to $1.7 trillion in 2021. That is barely 10% of the European Union’s GDP, or roughly the combined output...
Energy and climate transitions: current and future challenges
François Villeroy de Galhau, Stéphane DeesWe live in an era of urgency, where we have to cope with multiple crises at the same time. Europe is currently facing a major historical shock.
War in Ukraine: future of Russia and Europe
David MarshThe Russian invasion of Ukraine has forcibly reshaped the psychological, emotional and geopolitical map of Europe. It is time for a reappraisal, including of what went wrong in the reconfiguration of Europe since the...
How can monetary policy be made more efficient?
Madis MüllerThe past decade has taught the central banking community the important lesson that negative shocks can happen more frequently, and the time between the shocks may not be long enough to let central banks regain policy space.
The role of central banks in the digital transformation of financial markets
Dr Joachim NagelDigital transformation is taking place at a rapid pace, and its consequences for society and the economy are very much in evidence. Virtual meetings, instant messaging and online shopping have become part of our daily life.
Poland Gangnam Style
Barry EichengreenFor the last quarter century, the Polish economy has been an underappreciated success story – underappreciated certainly in my country, the United States. GDP per capita tells the tale.
A somewhat different look at the Bundesbank
Paweł KowalewskiThe Bundesbank is most often associated with a conservative approach to central banking, significant levels of institutional independence, and a highly effective monetary policy.