Economic growth of the Czech Republic differed strongly in two periods: 1996-1999 and 2000-2004. While in the first period the economy was hit by the recession and the average annual rate of growth of GDP reached only 0,9 %, in the second period the growth accelerated to 3,2 %. The economic...

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...

The main goal of this paper is to analyse the process of price convergence (beta and sigma convergence) in new EU Member States towards the Euro area (EU-12). The theoretical part of the paper consists of a brief overview of methods that are employed for analyses of the process of price...

The article deals with the phenomenon of globalization and in particular its influence on production chains of multinational firms. The on-going process of globalization has set off new trends and possibilities of production (e.g. outsourcing) which resulted in changes of firms´ behaviour. This...

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International comparison of gross domestic product and its component expenditures is based on the utilization of purchasing power parities which are conversion rates (both currency converters and price deflators). When GDPs of countries are converted to a common currency using PPPs, they are...

The study is focused on macroeconomic stability of the Czech economy. The first part (methodological) stems from the system of national accounting which offers two approaches: from the point of view of relationship between domestic supply and demand and between savings and investments....

Economic growth of the Czech Republic measured by GDP reached 3,4 % per annum in the decade 2001-2010 and was substantially faster than average annual growth of the European Union. Strong acceleration in the years 2005-2007 was followed by stagnation in the years 2008-2012 caused by strong...

The economies of Central and Eastern Europe are acceding to the EU with economic levels well behind those of current Member States. Combining countries with different economic standards does give rise to certain risks. Where the convergence of the price level is too fast and is not underpinned...

This paper deals with the narrowing the income gap between the Central and East European New Member States (NMS-5) and the EU-25 and with the trade-off between the real and nominal convergence. The methodology is based on international standards enabling comparisons of macroeconomic indicators,...