Růst, stabilita a konvergence české ekonomiky v letech 2001-2008

Growth, Stability and Convergence of the Czech Economy in the Years 2001-2008

Vojtěch Spěváček and Růžena Vintrová

Politická ekonomie, 2010, vol. 2010, issue 1, 20-50

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).

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 (search for similar items in EconPapers)
JEL-codes: E22 E24 J30 O11 P24 (search for similar items in EconPapers)
Date: 2010
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DOI: 10.18267/j.polek.718

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