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A Historical View on the Development of Czech Economy from 1970

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  • Kristýna Vltavská
  • Jaroslav Sixta

Abstract

The paper describes the changes in Czech economy in the period between 1970 and 2010 from the macroeconomic perspective. It is based on the detailed study of sources and uses of gross domestic product with respect to labour inputs. Used data sources come from recently published historical data on GDP combined with the data of oicial statistics. The paper should provide an analysis of the main determinants of growth based on output and expenditure approach to GDP and employment including the industrial analysis of labour productivity. In this paper labour productivity is estimated as the ratio of gross value added in the constant prices over the input used. As we have the data of total employment in full time equivalent we used them as the only possible labour input for the productivity analysis for the period in question.

Suggested Citation

  • Kristýna Vltavská & Jaroslav Sixta, 2015. "A Historical View on the Development of Czech Economy from 1970," Prague Economic Papers, Prague University of Economics and Business, vol. 2015(1), pages 105-122.
    • Handle: RePEc:prg:jnlpep:v:2015:y:2015:i:1:id:503:p:105-122
    DOI: 10.18267/j.pep.503
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    References listed on IDEAS

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    1. Miroslav Singer, 2013. "A Comparison of the Rates of Growth of Post-Transformation Economies: What Can(Not) Be Expected From GDP?," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(1), pages 3-27.
    2. Jan Čadil & Tomáš Pavelka & Eva Kaňková & Jan Vorlíček, 2011. "Odhad nákladů nezaměstnanosti z pohledu veřejných rozpočtů [Unemployment Cost Estimate from Public Budgets Perspective]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(5), pages 618-637.
    3. Jaroslav Sixta & Kristýna Vltavská & Jaroslav Zbranek, 2011. "Souhrnná produktivita faktorů založená na službách práce a kapitálu [Total Factor Productivity Measurement Based on Labour and Capital Services]," Politická ekonomie, Prague University of Economics and Business, vol. 2011(5), pages 599-617.
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    Cited by:

    1. Martin Hudcovský & Martin Lábaj & Karol Morvay, 2017. "Employment Growth and Labour Elasticity in V4 Countries: Structural Decomposition Analysis," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(4), pages 422-437.

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    More about this item

    Keywords

    system of balance of national economy; system of national accounts; gross domestic; gross value added; full time equivalent; labour productivity;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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