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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...
Persistent link: https://www.econbiz.de/10008509955
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
Persistent link: https://www.econbiz.de/10010415012
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institutions that define any economic system. Within society, people are perceptive to a system of general rules that provides … incentives and constraints for human behavior. Institutions' and human action's mutuality, and also its economic and political … implications, explain the essential importance of institutions in economic science and the institutional approach viability. …
Persistent link: https://www.econbiz.de/10005087792
The role played by endogenous growth models in growth literature might be analyzed from two perspectives. In the first place, is it emphasized the necessity to replace the hypothesis of perfect competition with monopolistic competition in every mathematical model. Secondly, there is no...
Persistent link: https://www.econbiz.de/10005087811
The study and comprehension of institutions – viewed as written and unwritten constraints (rules) initiated by people … economies and societies. The framework inspired by institutions to which people dedicated maximum energy and talent also …
Persistent link: https://www.econbiz.de/10005154481
responsibilities of supervising institutions are still among open problems of the economic policy of the Czech Republic. Currently four … institutions share the supervision of Czech financial markets. These institutions differ by their legal statuses, rights and … procedures. Some institutions have an internal conflict of their targets. A programme of two step integration was adopted in the …
Persistent link: https://www.econbiz.de/10005067741
creation, maintenance and cultivation of appropriate political and economic institutions ("political and economic design … influence of informal institutions, which undoubtedly create "the spawn, out of all grown up". If the state were to be … understood in its minimal role, i. e. as the guarantee and co-creator of basic "well-established" rules and/or institutions, the …
Persistent link: https://www.econbiz.de/10005036666