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2004, which was also the year of EU entry, was quite successful for the Czech economy. Economic growth accelerated, driven in particular by the investment demand and exports. After 10 years of permanent deficits, the trade balance deficit diminished significantly. The effects of EU entry, which...

New members of the EU will not form an optimum currency area with the present eurozone member states. The article discusses some costs and benefits of an early EMU entry for the Czech Republic (and other Central-European economies). The authors concentrate on the consequences of loss of...

Gradual narrowing of the gap between consumer and investment demand was one of major achievements of 2003, supporting the long-term sustainability of Czech economic growth. In the first half of 2004, industry and construction witnessed strong growth, retail trade showing a considerable slowdown....

Characteristics for 1997 was a significant slowdown of Gross Domestic Product (GDP) growth: within the first three-quarters, GDP grew by 1.1 %, and our estimate for the whole year is 1.4 %. At the same time 1997 was a turning year with respect to some components of Gross Domestic Product. The...

There is no proof that a new paradigm of economic theory has been enthroned, rending old economic laws invalid. According to followers of the new paradigm, knowledge creation transformed into new products of information industries should bring increasing returns, accelerate growth to rates...

Economic growth accelerated in 2001 mostly as a consequence of renewed recovery of domestic demand, gross fixed capital investment being the main pro growth factor. Industry, construction and retail trade showed a solid growth around 5 %. Along with economic growth, external imbalance has...

Both economic theory on consumption function and historical empirical evidence from advanced market economies prove that private consumption is less volatile during the cycle than GDP or fixed capital investment. The national accounts data for the Czech Republic in 1990-1998 show the opposite:...

The authors present an analysis of the most recent trends in the Czech economy. They claim that the economy is going through a turning point in its development: after two years of a decline, the economy is likely to grow again in 2000. The growth will be driven mainly by exports, followed by...

Economic growth continued despite overall slowdown of world economy in 2001, due to strong domestic demand. Inflationary pressures remained under control as well as external imbalance. Czech exporters proved to be able to compete on demanding world markets even under weak demand and strong...