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A Comparison of GDP growth of European countries during 2008-2012 period from regional and other perspectives

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  • Mazurek, Jiri

Abstract

The aim of the article is to compare total real GDP growth of European countries from the 3rd quarter of 2008 to the 3rd quarter of 2012, that is the period from the start of the Great recession in European Union to the present day. This period is characterized by a predominant economic stagnation or an economic recession, which occurred in the majority of examined European countries. Countries were divided into groups based on the following grounds: whether they are geographically close the economic center (Germany) or periphery, whether they are in Eurozone or not, whether they are (new) EU members or not, etc. The main findings from the comparisons are as follows: 1. European countries close to the economic center (Germany and its neighbours) experienced positive economic growth during examined period on average, while countries from European periphery experienced negative economic growth on average during the same period. This difference was found statistically significant at α = 0.01 level. 2. Differences between Eurozone and non-Eurozone and differences between old and new EU members were found statistically insignificant. 3. Among European regions with the most negative real total GDP growth were countries from Baltics, Balkans, Southern Europe (Italy, Portugal) and Iceland. The most successfull countries with the most positive real total GDP growth were countries of central Europe (Poland, Slovakia, Germany, Switzerland, Austria) and Northern Europe (Sweden and Norway).

Suggested Citation

  • Mazurek, Jiri, 2013. "A Comparison of GDP growth of European countries during 2008-2012 period from regional and other perspectives," MPRA Paper 51178, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:51178
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    File URL: https://mpra.ub.uni-muenchen.de/51178/1/MPRA_paper_51178.pdf
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    References listed on IDEAS

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    1. Beblavý,Miroslav & Cobham,David & Ódor,L'udovít (ed.), 2011. "The Euro Area and the Financial Crisis," Cambridge Books, Cambridge University Press, number 9781107014749.
    2. Karl Aiginger, 2011. "Why Growth Performance Differed across Countries in the Recent Crisis: the Impact of Pre-crisis Conditions," Review of Economics & Finance, Better Advances Press, Canada, vol. 1, pages 35-52, August.
    3. AIGINGER Karl, 2011. "Why Performance Differed Across Countries In The Recent Crisis," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 55(2), pages 20-27.
    4. Jiří Mazurek & Elena Mielcová, 2013. "The Evaluation of Economic Recession Magnitude: Introduction and Application," Prague Economic Papers, Prague University of Economics and Business, vol. 2013(2), pages 182-205.
    5. Rainer Kattel & Ringa Raudla, 2013. "The Baltic Republics and the Crisis of 2008–2011," Europe-Asia Studies, Taylor & Francis Journals, vol. 65(3), pages 426-449.
    6. Karl Aiginger, 2011. "Why Performance Differed Across Countries in the Recent Crisis. How Country Performance in the Recent Crisis Depended on Pre-crisis Conditions," WIFO Working Papers 387, WIFO.
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    Cited by:

    1. Jiri Mazurek, 2014. "Examination of European Union economic cohesion: A cluster analysis approach," Business and Economic Horizons (BEH), Prague Development Center, vol. 9(4), pages 8-17, January.
    2. Constantin ANGHELACHE & Mădălina-Gabriela ANGHEL & Ștefan Virgil IACOB & Tudor SAMSON, 2020. "Analysis of the quarterly evolution of the Gross Domestic Product," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(624), A), pages 243-260, Autumn.
    3. Constantin Anghelache & Aurelian DIACONU & Andreea Ioana MARINESCU & Marius POPOVICI, 2016. "Comparative study of the evolution of the Gross Domestic Product indicator," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(12), pages 165-172, December.
    4. Radu Titus MARINESCU & Aurelian DIACONU & Alexandru BADIU & Alexandru BADIU, 2016. "Analyzing the correlation between GDP and import using a statistical-econometric model," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(10), pages 98-102, October.

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    More about this item

    Keywords

    economic growth; European union; international economics; European regions.;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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