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Supply-Side Adjustments in the Czech Republic: A Cross-Sector Perspective

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  • Kamil Dybczak
  • Vladislav Flek

Abstract

We calculate production functions for the key productive sectors of the Czech economy (agriculture, industry, etc.), exploring the growth-accounting approach and decomposition of total factor productivity (TFP) growth. We establish that the growth in real value added over the period 1996-2005 has been driven mainly by increases in TFP. Our analysis shows, however, that this aggregate long-term growth pattern does not hold for all productive sectors. Furthermore, from 1996 to 2005, the Czech economy generally suffered from a structural burden in that all growth in TFP was due exclusively to better utilization of resources, given the initial structure of their allocation, with a negative contribution of resource reallocation.

Suggested Citation

  • Kamil Dybczak & Vladislav Flek, 2007. "Supply-Side Adjustments in the Czech Republic: A Cross-Sector Perspective," Eastern European Economics, Taylor & Francis Journals, vol. 45(6), pages 29-45, November.
    • Handle: RePEc:mes:eaeuec:v:45:y:2007:i:6:p:29-45
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    Cited by:

    1. Tomáš Volek & Martina Novotná, 2015. "Gross Value Added and Total Factor Productivity In Czech Sectors," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 9(1), March.
    2. Juraj Antal & Frantisek Brazdik & Jan Bruha & Martin Fukac & Adrian Pagan & Jiri Podpiera & Stanislav Polak & Yuliya Rychalovska, 2008. "CNB Economic Research Bulletin: Inflation Targeting and DSGE Models," Occasional Publications - Edited Volumes, Czech National Bank, edition 2, volume 6, number rb06/2 edited by Juraj Antal & Jan Babecky, January.

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