Nominal and Real Convergence of Czechia With the Euro Area

C 2024

Nominal and Real Convergence of Czechia With the Euro Area

SZKORUPOVÁ, Zuzana, Radmila KRKOŠKOVÁ and Irena SZAROWSKÁ

Basic information

Original name

Nominal and Real Convergence of Czechia With the Euro Area

Authors

SZKORUPOVÁ, Zuzana (703 Slovakia, belonging to the institution), Radmila KRKOŠKOVÁ (203 Czech Republic, belonging to the institution) and Irena SZAROWSKÁ (203 Czech Republic, belonging to the institution)

Edition

Leeds, England, Modeling Economic Growth in Contemporary Czechia, p. 17-34, 18 pp. Modeling Economic Growth in Contemporary Czechia (Entrepreneurship and Global Economic Growth), 2024

Publisher

Emerald Publishing Limited

Other information

Language

English

Type of outcome

Kapitola resp. kapitoly v odborné knize

Field of Study

50206 Finance

Country of publisher

United Kingdom of Great Britain and Northern Ireland

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

printed version "print"

References:

URL

Organization unit

School of Business Administration in Karvina

ISBN

978-1-83753-841-6

DOI

http://dx.doi.org/10.1108/978-1-83753-840-920241002

Keywords in English

Nominal convergence; Euro area; Maastricht convergence criteria; Real convergence; Economic performance; Labour market

Abstract

V originále

The aim of this chapter is to examine the nominal and real convergence of Czechia. The importance of the convergence of Czechia with the euro area is linked to the future intention of joining the Economic and Monetary Union after the Maastricht criteria are met. This chapter covers the period from 2004 to 2021. We argue that nominal convergence is relative to the Maastricht criteria, when real convergence focuses on different areas: the Maastricht criteria, gross domestic product (GDP) per capita in purchasing power standards and real GDP growth rate, labour market (minimum labour costs and unemployment rates. Findings suggest that Czechia has reported the strongest real convergence in the area of relative economic level, moderate convergence of labour costs and divergence of unemployment. The nominal convergence analysis suggests that Czechia will not meet the Maastricht benchmarks in the near future and is not ready to join the euro area given its high inflation rate and the state of public finances.

Citovat

SZKORUPOVÁ, Zuzana, Radmila KRKOŠKOVÁ and Irena SZAROWSKÁ. Nominal and Real Convergence of Czechia With the Euro Area. In Daniel Stavárek, Michal Tvrdoň. Modeling Economic Growth in Contemporary Czechia. Leeds, England: Emerald Publishing Limited, 2024, p. 17-34. Modeling Economic Growth in Contemporary Czechia (Entrepreneurship and Global Economic Growth). ISBN 978-1-83753-841-6. Available from: https://dx.doi.org/10.1108/978-1-83753-840-920241002.

@inbook{79002,
   author = {Szkorupová, Zuzana and Krkošková, Radmila and Szarowská, Irena},
   address = {Leeds, England},
   booktitle = {Modeling Economic Growth in Contemporary Czechia},
   doi = {http://dx.doi.org/10.1108/978-1-83753-840-920241002},
   editor = {Daniel Stavárek, Michal Tvrdoň},
   keywords = {Nominal convergence; Euro area; Maastricht convergence criteria; Real convergence; Economic performance; Labour market},
   howpublished = {tištěná verze "print"},
   language = {eng},
   location = {Leeds, England},
   isbn = {978-1-83753-841-6},
   pages = {17-34},
   publisher = {Emerald Publishing Limited},
   title = {Nominal and Real Convergence of Czechia With the Euro Area},
   url = {https://www.emerald.com/insight/publication/doi/10.1108/9781837538409},
   year = {2024}
}

TY  - CHAP
ID  - 79002
AU  - Szkorupová, Zuzana - Krkošková, Radmila - Szarowská, Irena
PY  - 2024
TI  - Nominal and Real Convergence of Czechia With the Euro Area
VL  - Modeling Economic Growth in Contemporary Czechia (Entrepreneurship and Global Economic Growth)
PB  - Emerald Publishing Limited
CY  - Leeds, England
SN  - 9781837538416
KW  - Nominal convergence
KW  - Euro area
KW  - Maastricht convergence criteria
KW  - Real convergence
KW  - Economic performance
KW  - Labour market
UR  - https://www.emerald.com/insight/publication/doi/10.1108/9781837538409
N2  - The aim of this chapter is to examine the nominal and real convergence of Czechia. The importance of the convergence of Czechia with the euro area is linked to the future intention of joining the Economic and Monetary Union after the Maastricht criteria are met. This chapter covers the period from 2004 to 2021. We argue that nominal convergence is relative to the Maastricht criteria, when real convergence focuses on different areas: the Maastricht criteria, gross domestic product (GDP) per capita in purchasing power standards and real GDP growth rate, labour market (minimum labour costs and unemployment rates. Findings suggest that Czechia has reported the strongest real convergence in the area of relative economic level, moderate convergence of labour costs and divergence of unemployment. The nominal convergence analysis suggests that Czechia will not meet the Maastricht benchmarks in the near future and is not ready to join the euro area given its high inflation rate and the state of public finances.
ER  -

SZKORUPOVÁ, Zuzana, Radmila KRKOŠKOVÁ and Irena SZAROWSKÁ. Nominal and Real Convergence of Czechia With the Euro Area. In Daniel Stavárek, Michal Tvrdoň. \textit{Modeling Economic Growth in Contemporary Czechia}. Leeds, England: Emerald Publishing Limited, 2024, p.~17-34. Modeling Economic Growth in Contemporary Czechia (Entrepreneurship and Global Economic Growth). ISBN~978-1-83753-841-6. Available from: https://dx.doi.org/10.1108/978-1-83753-840-920241002.

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