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Růst, stabilita a konvergence české ekonomiky v letech 2001-2008
[Growth, Stability and Convergence of the Czech Economy in the Years 2001-2008]

Author

Listed:
  • Vojtěch Spěváček
  • Růžena Vintrová

Abstract

Economic growth of the Czech Republic strongly accelerated in the years 2005-2007. Substantial decline of economic activity took place at the end of 2008 and in the year 2009. On the supply side the main contributing factors were labour and total factor productivity. On the demand side the growth was pulled by domestic demand and the contribution of foreign trade became positive in the years 2004-2008. Macroeconomic stability improved substantially in the field of foreign trade. The process of real convergence accelerated in the years 2001-2007 and was based on the growth of labour productivity. In 2008 the GDP per capita in purchasing power standards reached 80 % of the EU-27 average. The comparative price level grew quickly from the low starting level, but was far below the relative economic level compared with EU-15. In 2008 a great jump in CPL took place (from 59 % in 2007 to 67 % in 2008 in relation to EU-15).

Suggested Citation

  • Vojtěch Spěváček & Růžena Vintrová, 2010. "Růst, stabilita a konvergence české ekonomiky v letech 2001-2008 [Growth, Stability and Convergence of the Czech Economy in the Years 2001-2008]," Politická ekonomie, Prague University of Economics and Business, vol. 2010(1), pages 20-50.
    • Handle: RePEc:prg:jnlpol:v:2010:y:2010:i:1:id:718:p:20-50
    DOI: 10.18267/j.polek.718
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    References listed on IDEAS

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    1. Vasily Astrov & Vladimir Gligorov & Peter Havlik & Mario Holzner & Gabor Hunya & Michael Landesmann & Sebastian Leitner & Zdenek Lukas & Anton Mihailov & Olga Pindyuk & Leon Podkaminer & Josef Pöschl , 2009. "Where Have All the Shooting Stars Gone?," wiiw Forecast Reports 4, The Vienna Institute for International Economic Studies, wiiw.
    2. Vasily Astrov & Vladimir Gligorov & Peter Havlik & Mario Holzner & Gabor Hunya & Sebastian Leitner & Zdenek Lukas & Anton Mihailov & Olga Pindyuk & Leon Podkaminer & Josef Pöschl & Waltraut Urban & He, 2008. "The Big Boom Is Over, but Growth Remains Strong and Inflation Calms Down," wiiw Forecast Reports 2, The Vienna Institute for International Economic Studies, wiiw.
    3. Beate Muck & Renate Prasch & Monika Schwarzhappel, . "wiiw Handbook of Statistics 2009: Central, East and Southeast Europe," Books, The Vienna Institute for International Economic Studies, wiiw, number 2009, March.
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    More about this item

    Keywords

    economic growth; inflation; gross domestic product; total factor productivity; real gross domestic income; domestic demand; foreign trade and trade balance; national savings; gross capital formation; general government budget;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • 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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