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Makroekonomická rovnováha české ekonomiky v letech 1995 až 2005
[Macroeconomic balance of the czech economy in the years 1995-2005]

Author

Listed:
  • Vojtěch Spěváček

Abstract

The study is focused on macroeconomic stability of the Czech economy. The first part (methodological) stems from the system of national accounting which offers two approaches: from the point of view of relationship between domestic supply and demand and between savings and investments. Analytical part examines domestic supply and demand, which is reflected in the balance of foreign trade. There was a positive tendency due to a favourable development in foreign trade. The relation between savings and investments, which is equal to current account balance, looks less favourable. The main source of imbalance is a negative balance of incomes expressing bigger outflow of primary incomes in relation to their inflow. Public finances can be identified as the weakest chain link of economic development. International comparison with new EU Members from middle Europe indicates that keeping macroeconomic stability in acceptable boundaries represents a serious problem.

Suggested Citation

  • Vojtěch Spěváček, 2006. "Makroekonomická rovnováha české ekonomiky v letech 1995 až 2005 [Macroeconomic balance of the czech economy in the years 1995-2005]," Politická ekonomie, Prague University of Economics and Business, vol. 2006(6), pages 742-761.
    • Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:6:id:581:p:742-761
    DOI: 10.18267/j.polek.581
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    More about this item

    Keywords

    gross domestic product; current account balance; domestic demand; foreign trade and trade balance; national savings; general government budget; macroeconomic balance; gross national disposable income; domestic investments;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F30 - International Economics - - International Finance - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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