A Comparison of GDP growth of European countries during 2008-2012 period from regional and other perspectives

The aim of the article is to compare total real GDP growth of European countries from the 3rd quarter of 2008 to the 3rd quarter of 2012, that is the period from the start of the Great recession in European Union to the present day. This period is characterized by a predominant economic stagnation o...

Full description

Bibliographic Details
Main Author: Mazurek, Jiri
Format: Report
Language:English
Published: 2013
Subjects:
F43 - Economic Growth of Open Economies
F44 - International Business Cycles
O47 - Empirical Studies of Economic Growth
Aggregate Productivity
Cross-Country Output Convergence
O57 - Comparative Studies of Countries
R11 - Regional Economic Activity: Growth
Development
Environmental Issues
and Changes
Norway
Iceland
Online Access:https://mpra.ub.uni-muenchen.de/51178/
https://mpra.ub.uni-muenchen.de/51178/1/MPRA_paper_51178.pdf
Description
Summary:The aim of the article is to compare total real GDP growth of European countries from the 3rd quarter of 2008 to the 3rd quarter of 2012, that is the period from the start of the Great recession in European Union to the present day. This period is characterized by a predominant economic stagnation or an economic recession, which occurred in the majority of examined European countries. Countries were divided into groups based on the following grounds: whether they are geographically close the economic center (Germany) or periphery, whether they are in Eurozone or not, whether they are (new) EU members or not, etc. The main findings from the comparisons are as follows: 1. European countries close to the economic center (Germany and its neighbours) experienced positive economic growth during examined period on average, while countries from European periphery experienced negative economic growth on average during the same period. This difference was found statistically significant at α = 0.01 level. 2. Differences between Eurozone and non-Eurozone and differences between old and new EU members were found statistically insignificant. 3. Among European regions with the most negative real total GDP growth were countries from Baltics, Balkans, Southern Europe (Italy, Portugal) and Iceland. The most successfull countries with the most positive real total GDP growth were countries of central Europe (Poland, Slovakia, Germany, Switzerland, Austria) and Northern Europe (Sweden and Norway).

Similar Items