Politická ekonomie 2003, 51(2):197-211 | DOI: 10.18267/j.polek.399
Tendence ekonomického vývoje v Evropské unii
- 1 Český statistický úřad, Praha.
- 2 Univerzita Karlova, Praha.
Economic development in European union: main tendencies
World economy slowed down more than 2 %, which was the main feature of its development in 2001. There were more factors behind this economic slowdown, primarily the faltering upswing of the world crude oil price, problems of the technological sector, and September 11 events in the USA. Recession forces hit world trade and investment activities in particular. Main sources of economic growth were thus significantly weakened in consequence. The growth rate of GDP in the EU slowed down from 3.3 % in 2000 to 1.6 % in 2001. A larger fall of the economy was prevented by only a slight deceleration of the growth of household consumption from 2.7 % in 2000 to 2.0 % in 2001 and keeping the dynamic growth of services between 2 % and 4 %. However, external trade growth rates were only a third on 2000 and came to limit Czech external trade dynamics in the second half of the year.
Keywords: economic growth, inflation, employment, business cycle, external trade, private consumption, gross fixed capital formation
JEL classification: D10, E24, E30, O11
Published: April 1, 2003 Show citation
References
- Czesaný, S.: Co brání uvolnění trhu práce EU. Hospodářské noviny, 18. 4. 2001, s. 3.
- Economic Development in the Euro Area. Monthly Bulletin, March 2002, s. 7-52.
- Economic Outlook. Paris, OECD December 2001.
- Euro Area. Paris, OECD, Economic Surveys, May 2001.
- European Economy, 2002, No. 2. European Commission, Spring 2002.
- Krugman, P.: Increasing Returns and Economic Geography. Journal of Political Economy, 1991, č. 3, s. 483-499.
Go to original source... - The EU Economy 2001. Review European Commission, 2001, No. 73.
- World Economic Outlook. Washington, IMF, April 2002.
This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.