The influence of crisis on the sector structure of economy focusing on agriculture
The Czech Republic entered the crisis with relatively good starting conditions - showed no significant macroeconomic imbalances and financial system was not destabilized. However, the crisis has here also been and a decline in GDP in 2009 to 4.1% was mainly due to economic recession in the Euro zone. In many countries there has been a change in the sector scope. The Czech Republic belongs to the industrial-oriented countries and the significance of recession is also demonstrated by the development of industrial production and exports. Further economic increase depends mainly on exports, because there are many industries in the Czech Republic with foreign majority and a large part of their production goes abroad. Czech agriculture has been also facing adverse impacts of the crisis. These have occurred since the second half of 2008. The article analyses the contributions to GDP and trends in future years. There are also described changes in the sector economic structure with focus on agriculture.
Volume (Year): 3 (2011)
Issue (Month): 2 (June)
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- Eduardo Borensztein & Ugo Panizza, 2009.
"The Costs of Sovereign Default,"
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