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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...
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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...
Persistent link: https://www.econbiz.de/10005036696
Economic growth of the Czech Republic differed strongly in two periods: 2001-2003 and 2004-2006. While in the first period the average annual rate of growth of GDP reached only 2,7 %, in the second period the growth accelerated to 5,7 %. The economic growth measured by the indicators of real...
Persistent link: https://www.econbiz.de/10008754966
This paper focuses on the role of institutions in enhancing economic growth. Attention to the institutional environment … specialization and the division of labor. Instead, development is seen as a response to the evolution of institutions that support …. That is, institutions do matter when it comes to costs minimizing or, in other words, the secret of obtaining efficient …
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