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

2008 ◽  
Vol 56 (4) ◽  
pp. 435-448 ◽  
Author(s):  
Mojmír Hájek
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Czech Republic ◽  
The European Union ◽  
Member States ◽  
The Czech Republic ◽  
New Member States

scholarly journals Was Euro the magic wand for economic growth? An analysis of the real benefits of Euro adoption for the New Member States

2019 ◽  
Vol 13 (1) ◽  
pp. 840-853
Author(s):  
Ana-Maria Holobiuc ◽  
Bogdan Mihai
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Czech Republic ◽  
The European Union ◽  
Convergence Criteria ◽  
Single Currency ◽  
Member States ◽  
New Member States ◽  
Euro Adoption ◽  
Hard Evidence

Abstract At the beginning of the 21st century, the European single currency has been considered a guarantor of prosperity and welfare for the countries that were able to meet the nominal convergence criteria. Starting with Slovenia, a number of five Center and Eastern European Countries joined the Economic and Monetary Union, aiming to achieve the economic prosperity of the Western countries. The concept of economic convergence has been popularized through the economic growth literature during the last century and has become more and more debated with the deepening and expansion of the European Union. The main purpose of this paper has been to evaluate whether there is any hard evidence attesting that Euro adoption accelerated the economic development and created a significant advantage for the New Member States that opted for the single currency, as compared with their peer countries. In this respect, we have studied a panel of New Member States that joined the European Union in 2004 and 2007, comprising both Euro and Non-Euro countries, and we concluded that the single currency do not necessarily guarantee higher growth rates. Moreover, we revealed that the Euro New Member States were more affected by the economic and financial crisis than their Non-Euro peers. We have also shown that there are significant discrepancies between the early adopters of the Euro and the countries that joined the Eurozone after 2004 in terms of convergence and that the differences between the two groups have expanded in the last years. Last and not the least, in order to test our hypotheses, we have compared two sister-countries: Slovakia that joined the Eurozone in 2009 and Czech Republic that has not taken until now the decision to adopt the Euro. In this respect, our results suggest that both countries had good economic performances, and for some periods Czech Republic outperformed Slovakia, mainly in terms of GDP per capita and Foreign Direct Investment. Therefore, we concluded that the single currency has not significantly enhanced the economic performances in the case of the New Member States.

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

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.

scholarly journals   Agri-food exports in the enlarged European Union

2012 ◽  
Vol 58 (No. 8) ◽  
pp. 354-366 ◽  
Author(s):  
A. Antimiani ◽  
A. Carbone ◽  
V. Costantini ◽  
R. Henke
Keyword(s):  
European Union ◽  
The Other ◽  
The European Union ◽  
Member States ◽  
The Czech Republic ◽  
New Member States ◽  
Export Dynamics ◽  
Catching Up ◽  
Food Market ◽  
The One

  This paper explores the agri-food export dynamics in the New Member States and the Old Member States of the European Union during the enlargement process. The analysis relies on two different approaches based on the similarity and the sophistication indices of exported goods using a disaggregation at 95 items. The analysis shows that different and somehow divergent paths are in place. On the one side, the Czech Republic and Poland are involved in a quality catching up process and increase their competitiveness. On the other side, Bulgaria and Romania seem to be still trapped in the low-quality segment of the agri-food market with a decreasing competitiveness performance in the richest segment of the European market.  

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