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EU Membership Strengthens the Competitiveness of the Czech Republic
[Členství v EU posiluje konkurenceschopnost české ekonomiky]

Author

Listed:
  • Jiří Malý

Abstract

As regards the frequently mentioned risks connected with the EU entry, we feel that the analyzed macroeconomic data do not confirm that these risks have materialized. The example of the Czech Republic, which joined the EU in 2004, conversely points to an improvement of most macroeconomic indicators following the EU accession, and in fewer cases maintenance of the results from time before the membership. After the EU entry the inflation rate is kept on a low level, real GDP accelerated, economic level of the Czech Republic is increasing towards the EU average, the foreign trade records very positive results, the unemployment rate did not increase, real wages grow, exchange rate of the Czech crown against the euro and USD keeps strong positions, based on the Convergence Program, general government deficit of the Czech Republic has started to reduce after EU accession. As follows from the statistical data, period of intensive preparation of the Czech Republic to join the EU as well as first months of EU membership have rather a positive influence on the competitiveness of the Czech Republic.

Suggested Citation

  • Jiří Malý, 2005. "EU Membership Strengthens the Competitiveness of the Czech Republic [Členství v EU posiluje konkurenceschopnost české ekonomiky]," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2005(2), pages 71-80.
    • Handle: RePEc:prg:jnlaop:v:2005:y:2005:i:2:id:181:p:71-80
    DOI: 10.18267/j.aop.181
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    More about this item

    Keywords

    Czech Republic; European Union; integration; competitiveness; economic policy; gross domestic product; foreign trade; inflation; unemployment; wages; exchange rate; public finance;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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