Financial Deregulation and Economic Growth in the Czech Republic, Hungary and Poland

The paper focuses on an analysis of income inequality and expenditure inequality of households in the Czech Republic for the period 2001 - 2009, based on data from the Statistics of Family Accounts. The basic methodological tool is the Gini coefficient and its decomposition according to individual categories of consumer expenditure. The conducted research reaches the conclusion that income inequality is higher than inequality in consumer expenditure, and income inequality for the analyzed period is growing at a higher rate than expenditure inequality. Tax-transfer tools effectively eliminate income inequality, but nevertheless inequality of disposable income exceeds the inequality of net monetary expenditure. As regards the mutual relationship of income inequality and expenditure inequality, expenditure inequality within a period of economic growth and boom copied the course of income inequality, while within a period of economic decline and recession both inequalities showed a completely different development. The main determinant affecting income inequality may be considered to be non-consumer expenditure, particularly expenditure for the acquisition of real estate.

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Renewable Energy and EU 2020 Target for Energy Efficiency in the Czech Republic and Slovakia

Energies ◽

10.3390/en13040965 ◽

2020 ◽

Vol 13 (4) ◽

pp. 965 ◽

Cited By ~ 4

Author(s):

Jacek Brożyna ◽

Wadim Strielkowski ◽

Alena Fomina ◽

Natalya Nikitina

Keyword(s):

Economic Growth ◽

Energy Efficiency ◽

Renewable Energy ◽

Czech Republic ◽

Energy Consumption ◽

Greenhouse Gas ◽

Energy Policy ◽

Ghg Emissions ◽

The Czech Republic ◽

The Eu

Our paper focuses on the renewable energy and EU 2020 target for energy efficiency in the Czech Republic and Slovakia. We study the reduction of greenhouse gas (GHG) emissions in these two EU Member States through the prism of the Europe 2020 strategy and the 3 × 20 climate and energy package and economic growth (represented by the Gross Domestic Product (GDP) that allows to measure the national dynamics and provide cross-country comparisons) without attributing specific attention to issues such as the electrification of transport or heating, and thence leaving them outside the scope of this paper. Both Czech Republic and Slovakia are two post-Communist countries that still face the consequences of economic transformation and struggle with the optimal management of natural resources. Both countries encountered profound system transformation after 1989 that are apparent in all three measures of sustainable development used in our study. We show that it is unlikely that the planned increase in renewable energy in the Czech Republic and Slovakia will reach its targets, but they might succeed in reducing their energy consumption and greenhouse gas emissions. Our findings show that the energy intensity of Czech and Slovak economies increased in the early 2000s and then stabilized at a level about twice of the EU average. It appears that this value is likely to remain the same in the forthcoming years. However, implementation of GHG emissions in the Czech Republic and Slovakia may be at risk in case the proper energy policy is not maintained. Moreover, our results show how the increase in the share of renewable energy and improvement in energy efficiency go hand-in-hand with mining and exploiting the energy sources that is notorious for the transition economies. We also demonstrate that a proper energy policy is required for effectively reducing energy consumption and greenhouse gas emissions. There is a need for commitments made by relevant stakeholders and policymakers targeted at achieving sustainable economic growth and energy efficiency. In addition, we demonstrate that there is a need for maintaining a proper balance between economic development and environmental protection, which is a must for the EU sustainable energy development agenda and all its accompanying targets for all its Member States.

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Financial depth and economic growth - the case of Hungary, the Czech Republic and Poland

Acta Oeconomica ◽

10.1556/aoecon.54.2004.3.2 ◽

2004 ◽

Vol 54 (3) ◽

pp. 297-321

Author(s):

Katalin Mérő

Keyword(s):

Economic Growth ◽

Czech Republic ◽

Financial Intermediation ◽

Bank Loans ◽

Eastern European ◽

Financial Deepening ◽

The Czech Republic ◽

Catching Up ◽

European Economies ◽

The Relationship

The article focuses on the relationship between economic growth and financial intermediation, with special focus on the process of catching up in three Central and Eastern European economies: Hungary, the Czech Republic and Poland (CEC-3). The depth of financial intermediation and economic growth exhibit a close, direct relationship with each other. According to recent studies the relationship is causal and the level of financial development is a good indicator of future economic growth. Examining the relationship between the two factors is especially important for these Central and Eastern European economies, where the level of financial intermediation is very low compared to that of developed countries. The lack of financial deepening is even more pronounced taking into consideration that there is a significant catching-up process in every other areas of the economy. The initial proposition here is that in order to these countries catching up, their economic growth must necessarily be accompanied by a marked financial deepening, without which long-term economic growth is impossible. It is absolutely necessary that in the future the role of bank loans in these economies increases significantly and that a period characterised by a lending boom follows. The lending boom should occur in CEC-3 is not an unequivocal sign of imprudent lending or a supply-side expansion of bank loans - on the contrary, it should be viewed as complementary to the economic development at the given economic stage.

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Economic growth in the Czech Republic and new member states of the European Union in the period 1995-2006

Politická ekonomie ◽

10.18267/j.polek.646 ◽

2008 ◽

Vol 56 (4) ◽

pp. 435-448 ◽

Cited By ~ 10

Author(s):

Mojmír Hájek

Keyword(s):

Economic Growth ◽

European Union ◽

Czech Republic ◽

The European Union ◽

Member States ◽

The Czech Republic ◽

New Member States

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IMPACT OF THE COVID-19 PANDEMIC ON YOUTH UNEMPLOYMENT IN THE EUROPEAN UNION

Ekonomicko-manazerske spektrum ◽

10.26552/ems.2021.1.55-63 ◽

2020 ◽

Vol 15 (1) ◽

pp. 55-63

Author(s):

Maya Lambovska ◽

Boguslava Sardinha ◽

Jaroslav Belas, Jr.

Keyword(s):

Economic Growth ◽

European Union ◽

Czech Republic ◽

Young People ◽

Unemployment Rate ◽

Youth Unemployment ◽

The European Union ◽

The Czech Republic ◽

Unemployment Rates ◽

The Eu

Youth unemployment is a problem in each member country of the European Union (EU). The EU seeks to alleviate this problem by implementing various programs to support young people in finding and keeping a job, thus contributing to economic growth. In 2020, the world was hit by the COVID-19 pandemic. The countries have introduced many strict measures to prevent its spread, but they have caused a significant increase in unemployment, including among young people, and thus harmed economic growth. In this paper, we analyze the unemployment of people under the age of twenty-five in the EU. We also point out how unemployment rates have increased in individual countries. This problem concerns not only countries where the youth unemployment rate had been high already, such as Greece, Spain, and Italy, but also countries with previously lower rates, for example, the Czech Republic, Netherland, Poland, and Slovenia. In the latter group of countries, the youth unemployment rate has doubled in some cases due to anti-pandemic measures. We found that the most affected countries in this regard are the aforementioned Czech Republic, where the unemployment rate at the end of 2020 rose to 2.19 times above the level at the end of 2019, and Estonia, where year-over-year youth unemployment rose by a factor of 2.5. However, unfavorable developments occurred also in Lithuania, Latvia, and Ireland. According to our results, in 2020, youth unemployment increased the least in Hungary, Italy, and Belgium. In general, however, as the situation is now much more urgent, measures to alleviate this problem need to be put in place in each country to help young people find employment and, thus, stimulate economic growth.

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