Successful Convergence in the Visegrad Region: the Example of Czechia

Zsolt Becsey, Jr. () and Aron Mate ()
Additional contact information
Zsolt Becsey, Jr.: Magyar Nemzeti Bank
Aron Mate: Magyar Nemzeti Bank

Financial and Economic Review, 2021, vol. 20, issue 4, 157-169.

Abstract: Czech economic development has been characterised by a steady convergence process over the last almost three decades, with Czech GDP per capita now almost reaching the EU average. In our study we present the factors behind this development in relation to the V4 region and especially to Hungary. Our main finding is that the source of economic growth over the past 20 years has been efficiency and technology improvements, along with improving labour market conditions and a high, favourably structured investment rate. The important factors in this regard include high domestic ownership in most priority sectors, investment in human capital, a relatively balanced regional structure, support for R&D and the rise of digitalisation. The stability of the Czech economy suggests that Western European living standards will be achieved and maintained.

Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-20-4-fa2-becsey-mate.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mnb:finrev:v:20:y:2021:i:4:p:157-169.

Access Statistics for this article

More articles in Financial and Economic Review from Magyar Nemzeti Bank (Central Bank of Hungary) Contact information at EDIRC.
Bibliographic data for series maintained by Morvay Endre ( this e-mail address is bad, please contact ).