CHANCES OF RECOVERY FOR THE WEALTH OF HOUSEHOLDS AFTER THE FINANCIAL CRISIS IN THE VISEGRAD COUNTRIES
Journal Title: Вісник Кременчуцького національного університету імені Михайла Остроградського - Year 2017, Vol 2, Issue 104
Abstract
Purpose. Examining the events of the long 20th century’s financial crises the economic policy raises attention on the one hand on the permanent character of crises and on the other hand on their significant macroeconomic consequences. The statistics contain the number of bank and company debts, the decrease of macroeconomic output (GDP), the decline of employment, and also the increase of inflation and governmental debt. But they only contain partial information about the households’ wealth loss. We have drawn up generally three questions, which should be answered in this research: what kind of effects had the financial crisis of 2007 on the households’ wealth in the V4 countries; which factors have made an influence on the wealth situation in the region between 2007–2015; what chances has the recovery of the wealth situation. Methodology. In order to achieve the objectives of the study, we used a statistical analysis method, namely the analysis of dynamics of indicators, identification of the change trends and their comparison. Originality. In our research we have analysed on the one hand the causes and consequences of wealth loss, and on the other hand the chances of state engagement in the recovery process in the case of the Visegrad countries. Practical value. The authors analyse in their research on the one hand the effects of the financial crisis of 2008 on the wealth of households, and on the other hand they examine the chances of recovery to contribute to the creation of prudential behaviour both in the case of stakeholders and in the case of decision makers.
Authors and Affiliations
G. Kocziszky, D. Szendi
Keywords
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