Emerging markets’ economic growth based on Central Eastern European countries

Maciej Bolisęga

Abstract


The economy of Czech Republic, Poland, Slovak Republic and Hungary is the subject of the study. The aim of the analysis is to describe key drivers that have contributed into economic growth in recent years in all four countries. Industrial production, international trade’s share in GDP, geographical structure in exports as well as exchange rates were key measures that have been taken into consideration. Analysis suggests significant diversity among Central and Eastern European (CEE) countries. In general CEE countries can be described as small open economies. The only outlier is Poland, which is relatively large country in the region, as well as it represents low share of international trade in GDP. Exchange rates analysis before the global financial crisis in 2008 showed strong relation between The Czech Koruna, The Slovak Koruna and Polish Zloty. After 2008 the relation weakened. Since 2008 Polish Zloty showed significant relation with Hungarian Forint instead.

Keywords


Central Eastern Europe; economic growth; financial crisis; exchange rate; foreign trade

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References


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DOI: http://dx.doi.org/10.17951/h.2013.47.3.53
Date of publication: 2015-07-23 22:18:10
Date of submission: 2015-07-23 22:06:59


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