Vnější nerovnováha: cena za konsolidaci

The external imbalance: painful consolidation

Eva Zamrazilová

Politická ekonomie, 1999, vol. 1999, issue 3

Abstract: This article goes through the history of the external imbalance in the Czech Republic. The first signs of imbalance appeared in 1994, negative tendencies, however, culminating at the end of 1996 and the beginning of 1997. The current account deficit has been decreasing since the third quarter of 1997 due to both domestic (sluggish demand) and foreign (recovery of growth in Western Europe) factors.Results for 1998 support the statement that recovery of economic growth will be the macroeconomic priority for 1999 rather than external imbalance. The recovery of domestic demand could, however, - under certain circumstances - represent an import promoting impetus, which could threaten the painfully acquired and still fragile external balance. This would be very dangerous since twin deficits (fiscal deficit together with the one on the balance of payments) would not attract massive inflow of foreign investments.

Keywords: monetary; policy (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations:

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.35.html (text/html)
free of charge

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:prg:jnlpol:v:1999:y:1999:i:3:id:35

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.35

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().