ECONOMIC DEVELOPMENT IN THE VISEGRAD COUNTRIES FROM THE PERSPECTIVE OF MACROECONOMIC IMBALANCE PROCEDURE
The seriousness of problems stemming from macroeconomic imbalances in the EU and particularly in the euro area contributed to introduction of the Macroeconomic Imbalances Procedure which also includes a scoreboard of 11 indicators. The results of the scoreboard serve as an alert mechanism and are in...
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| Format: | Article |
| Language: | English |
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University of Applied Sciences in Bielsko-Biała
2015-01-01
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| Series: | Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej |
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| Online Access: | http://asej.eu/gicid/01.3001.0012.2616 |
| Summary: | The seriousness of problems stemming from macroeconomic imbalances in the EU and
particularly in the euro area contributed to introduction of the Macroeconomic
Imbalances Procedure which also includes a scoreboard of 11 indicators. The results of
the scoreboard serve as an alert mechanism and are interpreted from an economic
perspective with a view to identifying developments in the member states that may point
to a risk of imbalances. The aim of the paper is to evaluate the risk of imbalances in the
Visegrad countries using selected indicators from the scoreboard. Furthermore, the
author extends the existing scoreboard methodology of absolute indicators by
implementation of relative indices that are more valuable for effectiveness of the policy
making process. The results suggest that the only Visegrad country with a significant
risk of imbalances is Hungary. However, the relative indicators revealed a sign of
possible imbalances also in the Czech Republic and Poland. |
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| ISSN: | 2543-9103 2543-411X |