Competitiveness of Slovakia and the Economic Crisis
The impacts of financial crisis in the beginning of this year have also been felt by the Slovak economy. It could be argued that the competitiveness of Slovakia is under the influence of the world economic crisis, as it is a small, open and pro-export oriented economy, hence influenced by foreign ma...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2009-12-01
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| Series: | Central European Journal of Public Policy |
| Subjects: | |
| Online Access: | http://www.cejpp.eu/index.php/ojs/article/view/44 |
| _version_ | 1818336974162886656 |
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| author | Silvia Ručinská Dušan Urge Rastislav Ručinský |
| author_facet | Silvia Ručinská Dušan Urge Rastislav Ručinský |
| author_sort | Silvia Ručinská |
| collection | DOAJ |
| description | The impacts of financial crisis in the beginning of this year have also been felt by the Slovak economy. It could be argued that the competitiveness of Slovakia is under the influence of the world economic crisis, as it is a small, open and pro-export oriented economy, hence influenced by foreign markets. Because of limited extent of domestic market, the foreign demand plays a key role in economic growth, a role that depends on the development of international economic affairs. As the biggest Slovak trade partners are in a deep recession, it induces a slowdown in the domestic economy as well. Financial problems of numerous banks in these countries, in combination with the growing lack of trust in the performance of the economies have resulted in a decline in demand and consumption, which had its effects on Slovakia as well. Based on our analysis of the manifestations and consequences of the financial crisis we show the effects on competitiveness of Slovakia, as well as on public policy.<br /> |
| first_indexed | 2024-12-13T14:47:50Z |
| format | Article |
| id | doaj.art-3a62b035769b43668df9a770a3d142f4 |
| institution | Directory Open Access Journal |
| issn | 1802-4866 |
| language | English |
| last_indexed | 2024-12-13T14:47:50Z |
| publishDate | 2009-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Central European Journal of Public Policy |
| spelling | doaj.art-3a62b035769b43668df9a770a3d142f42022-12-21T23:41:26ZengSciendoCentral European Journal of Public Policy1802-48662009-12-01325078Competitiveness of Slovakia and the Economic CrisisSilvia RučinskáDušan UrgeRastislav RučinskýThe impacts of financial crisis in the beginning of this year have also been felt by the Slovak economy. It could be argued that the competitiveness of Slovakia is under the influence of the world economic crisis, as it is a small, open and pro-export oriented economy, hence influenced by foreign markets. Because of limited extent of domestic market, the foreign demand plays a key role in economic growth, a role that depends on the development of international economic affairs. As the biggest Slovak trade partners are in a deep recession, it induces a slowdown in the domestic economy as well. Financial problems of numerous banks in these countries, in combination with the growing lack of trust in the performance of the economies have resulted in a decline in demand and consumption, which had its effects on Slovakia as well. Based on our analysis of the manifestations and consequences of the financial crisis we show the effects on competitiveness of Slovakia, as well as on public policy.<br />http://www.cejpp.eu/index.php/ojs/article/view/44National competitiveness, economic crisis, public policy, economic growth, Slovak economy |
| spellingShingle | Silvia Ručinská Dušan Urge Rastislav Ručinský Competitiveness of Slovakia and the Economic Crisis Central European Journal of Public Policy National competitiveness, economic crisis, public policy, economic growth, Slovak economy |
| title | Competitiveness of Slovakia and the Economic Crisis |
| title_full | Competitiveness of Slovakia and the Economic Crisis |
| title_fullStr | Competitiveness of Slovakia and the Economic Crisis |
| title_full_unstemmed | Competitiveness of Slovakia and the Economic Crisis |
| title_short | Competitiveness of Slovakia and the Economic Crisis |
| title_sort | competitiveness of slovakia and the economic crisis |
| topic | National competitiveness, economic crisis, public policy, economic growth, Slovak economy |
| url | http://www.cejpp.eu/index.php/ojs/article/view/44 |
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