SZKORUPOVÁ, Zuzana, Radmila KRKOŠKOVÁ and Irena SZAROWSKÁ. Nominal and Real Convergence of Czechia With the Euro Area. Online. 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.
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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
Original language English
Type of outcome Chapter(s) of a specialized book
Field of Study 50206 Finance
Country of publisher United Kingdom of Great Britain and Northern Ireland
Confidentiality degree is not subject to a state or trade secret
Publication form electronic version available online
WWW 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
Tags International impact, Reviewed
Changed by Changed by: Mgr. Radmila Krkošková, Ph.D., učo 48703. Changed: 22/5/2024 09:21.
Abstract
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.
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