The effects of economic crisis of years 2007-2009 on real economy of Poland in comparison to the European Union
Journal Title: Barometr Regionalny. Analizy i Prognozy - Year 2011, Vol 2011, Issue 1
Abstract
The aim of the article is to present the scale of influence of economic crisis of the years 2007-09 on the real economy of Poland in comparison to the changes the EU went through during this period. The authors analyzed chosen areas of real economy of Poland. Chosen indicators showing changes on goods and services and also labour market were analyzed. These indicators in-cluded GDP and its main components, economic activity, unemployment and employment. Cyclical (short-run) and structural (long-run) effects of the crisis were shown, i.e. potential output, natural rate of unemployment and also the changes in the structure of GDP and labour market during crisis. The results were compared to the influence of previous recession, in years 2000-2001, on Polish economy and also to the situation of other EU countries. Eutostat and CSO of Poland data were used. The main finding of the article is that the results of the crisis will remain strong in year 2011. It is the consequence of lagging con-sumption, investments and negative changes in the labour market. However, the situation of Poland is much better that the EU concerning the influence of the crisis on long-run economic growth. European Union approached zero long-run growth and its dynamics may stay low in following years.
Authors and Affiliations
Robert Pater, Tomasz Skica
Keywords
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- EP ID EP97788
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