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The impact of unemployment on economic development in the Visegrad group (V4) countries
Phan, Sreypech
This study has attempted to scrutinize the impact of unemployment on economic development in the Visegrad (V4) countries comprising the Czech Republic, Hungary, Poland, and Slovakia, using time series data obtained from the World Development Indicators over a 29-year period from 1993 to 2021. This study has employed the Autoregressive Distributed Lag (ARDL) technique for empirical investigation. GDP growth rate is a dependent variable employed as a proxy for economic development. In the present study, the explanatory variables are unemployment, inflation, and the labor force. The empirical findings indicate that the long-term relationship between economic growth and various independent variables differs significantly across four countries. In the Czech Republic, inflation and unemployment negatively affect economic growth in the long run. In Hungary, unemployment has a strong negative impact on economic growth, while the effect of inflation and the labor force on GDP is uncertain. In Poland, the labor force has a positive impact on GDP, while unemployment has a negative impact. In Slovakia, only the labor force has a negative impact on GDP in the long run. In the short run, the study found that unemployment had a significant negative impact on GDP in all four countries, while labor force and inflation had significant positive and negative effects, respectively, only in the Czech Republic and Poland. Additionally, the lagged values of unemployment had significant effects on current GDP in the Czech Republic, Poland, and Slovakia. The findings suggest that unemployment is an important determinant of economic growth in the short term in all four countries, while the impact of labor force and inflation on GDP is less clear, as they only have significant effects in some countries. The study provides insights into the determinants of economic growth in four Central European countries and highlights the importance of the unemployment rate as a short-term determinant of economic growth in all four countries. The study's findings suggest that policymakers in these countries should prioritize policies aimed at reducing unemployment to promote economic growth. Additionally, the study's findings can be valuable to researchers and policymakers seeking to understand the economic dynamics of Central European countries and design effective policies to promote economic growth.
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Monetary policy of the Visegrad group countries in comparison with the Euro area
Alibrahim, Jalaa
Abstract: Alibrahim, Jalaa. Monetary policy of the Visegrad Group countries in comparison with the Euro area. Master thesis, Mendel University in Brno, Brno 2018. The aim of this diploma thesis is to compare monetary policy of Visegrad Group countries and the Euro area (European central bank’s monetary policy within Slovakia) during the observed period from 2001 to 2017 and the focus will be on the inflation in these countries. Research was focused on the long- run relationship between variables under study during the period, application of granger causality and the impulse responses. The empirical results will demonstrate how the variables were moving and related to each other during the period. This will show how the monetary policy in the Visegrad Group countries affected the inflation rate and in comparison, with the ECB policy within Slovakia after 2009.
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Structural funds and Cohesion fund in Visegrad countries
Březinová, Tereza ; Černá, Iveta (advisor) ; Čajka, Radek (referee)
The thesis introduces European regional policy which provides the framework for policy of economic, social and territorial cohesion. It characterizes its objectives and financial instruments. The second part of the thesis is focused on Visegrad group in the central European region. The most important chapter deals with drawing money from structural funds and its allocation in the regions in each V4 country. The countries are also compared according to selected criteria. Final part of the thesis presents the future of the EU cohesion policy.
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Wage Inequality and Returns to Education: Evidence from Visegrad Countries
Votava, Tomáš ; Klosová, Anna (advisor) ; Pugh, Geoff (referee)
Wage inequality is a well-established phenomenon of contemporary labour markets both in the United States and Europe, frequently discussed in the contemporary labour economics literature. In the following paper, based on harmonised data of the EU-SILC database, a semi parametric technique of quantile regression has been applied together with the traditional OLS method in order to estimate the impact of returns to education on wages in the Visegrad Group countries, namely the Czech Republic, Poland, Hungary and Slovakia. The main aim of the analysis is to examine the returns to education in these countries in order to observe differences appearing across them as well as within selected groups formed according to both the highest level of education attained and a number of years spent in a paid work (experience).
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