Prague Economic Papers, 2005 (vol. 14), issue 3

Original contributions, Original article, Research article

Czech Economy: First Year after the EU Entry

Kamil Janáček, Eva Zamrazilová

Prague Economic Papers 2005, 14(3):195-220 | DOI: 10.18267/j.pep.262  

In 2004, the Czech economy continued in solid growth. Slight acceleration of economic growth was driven in particular by strong investment demand and improving performance of the foreign trade with goods. On the other hand, due to slowdown in real wages, consumer demand weakened. 2004 was the year of turnover in foreign trade which has reported the best results since 1994. The EU entry was an important factor behind the improvement of trade balance - the foreign trade exchange significantly accelerated after the EU accession. The EU entry opened new chances to the exporters, especially small and medium-sized companies could fully use the advantage...

Distributive Impact of Czech Social Security and Tax Systems: Dynamics in Early 2000s

Ondřej Schneider, Tomáš Jelínek

Prague Economic Papers 2005, 14(3):221-237 | DOI: 10.18267/j.pep.263  

In this paper, we analyse the Czech social and tax systems and their impact on income distribution. We use regular household surveys, organized and published by the Czech Statistical Office (CSO), for years 1999 - 2002. This longer time span allows us to identify some trends in the Czech social security system and their impact on well-being of various income groups. We find that while the total cost of the Czech social security system were not escalating in the period of 1999 - 2002, the illness benefit - already the largest spending programme - rose by enormous 72 % in these four years. This largesse failed, however, to improve income of the poorest...

Determinants of Growth and Convergence in Transitive Economies in the 1990s: Empirical Evidence from a Panel Data

Menbere T. Workie

Prague Economic Papers 2005, 14(3):239-251 | DOI: 10.18267/j.pep.264  

This paper empirically examines the determinants of economic growth and convergence in transitive economies of Central and Eastern Europe in the 1990s. While the cross-section regression suggests the absence of a significant convergence across the EU15 and other transitive economies, the Visegrad four (Slovakia, the Czech Republic, Hungary and Poland) dummy being positive and significant indicates that this group of countries has done relatively better than the other group of transitive economies. Moreover, the results indicate that there was an income per capita convergence within Visegrad countries. Switching to a panel data approach, and controlling...

Potential Output in the Czech Republic: A Production Function Approach

Jaromír Hurník, David Navrátil

Prague Economic Papers 2005, 14(3):253-266 | DOI: 10.18267/j.pep.265  

This paper deals with the Czech economy supply side performance from the macroeconomic point of view. In order to evaluate the supply side behaviour we calculate the potential output dynamic path and contribution of its particular determinants using the production function method. The results show that the potential output growth was rather slow around 2 per cent. This implies that e. g. even 3 per cent growth can cause macroeconomic imbalances. Increase of the non-accelerating-inflation-rate of unemployment (NAIRU), weak growth of the capital stock and weak growth of total factor productivity appear to be the reasons for the constrained ability of...

Health Care Regulation: Impact on the Supply of Outpatient Services in the Czech Republic

Martin Dlouhý

Prague Economic Papers 2005, 14(3):267-276 | DOI: 10.18267/j.pep.266  

The objective of this paper is to evaluate the impact of regulatory policy on the supply of outpatient services and on their geographical distribution in the Czech Republic. The analysis of regulatory policy is based on the review of literature. Trends and regional distribution were analysed quantitatively on the data for the period of 1990 to 2002. Regulation introduced in 1997 led to a financial stability of the health sector, but it did not have a great impact on the level and distribution of outpatient services. Regulatory policy can be seen as a failure if one assumes that improved quality, effectiveness, and efficiency are the objectives of the...