ECONOMIC DEVELOPMENT IN THE VISEGRAD COUNTRIES FROM THE PERSPECTIVE OF MACROECONOMIC IMBALANCE PROCEDURE
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Keywords

macroeconomic imbalance
international competitiveness
MIP scoreboard
relative indicators

How to Cite

Stavárek, D. (2015). ECONOMIC DEVELOPMENT IN THE VISEGRAD COUNTRIES FROM THE PERSPECTIVE OF MACROECONOMIC IMBALANCE PROCEDURE. Scientific Journal of Bielsko-Biala School of Finance and Law, 6(1), 59-74. https://doi.org/10.5604/01.3001.0012.2616

Abstract

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.
https://doi.org/10.5604/01.3001.0012.2616
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The papers published in the ASEJ Journal (alternate title: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej) are free and online open access distributed (Creative Commons Attribution CC-BY-NC 4.0 license). The Publisher cannot be held liable for the graphic material supplied. The printed version is the original version of the issued Journal. Responsibility for the content rests with the authors and not upon the Scientific Journal or Bielsko-Biala School of Finance and Law.

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