This paper explores the economic development of the Slovak Republic from post-Soviet control to present day.
The following paper explores the recent economic developments of the Slovak Republic, from its accession into the European Union in the early 2000s, throughout the European monetary crisis in the years 2008 - 2009 and finally reflects upon the country’s current economic state. In doing so, this paper analyzes the most relevant indicators of international and domestic economic well-being and describes some of the underlying factors for these developments. An analysis of the degree to which Slovakia has overcome the hardships imposed by the economic crisis is also
presented.
The analyses in this paper rely on statistical information available from public databases and, when applicable, consultation of expert literature for an interpretation of the data. When doing so, the author has attempted to provide data for comparison and context, generally with the average from the EU 27 states or of the other Visegrád Group members, when available.
This paper only considers a limited number of indicators of economic well-being for these analyses: balance of payments, openness, foreign direct investment, government deficit and debt, inflation, economic growth, employment, and investment. As a result, some other economically relevant topics may be excluded which could provide an even better analysis of the problem. Social costs and other non-economic factors are entirely omitted from this paper although they play an important role in any country’s standard of living.
Finally, it is important to note during the analysis of the developments in 2009 and the years afterward that all changes cannot be attributed to the European Debt Crisis as another important event occurred: Slovakia adopted the Euro as its national currency; an event that is often cited as causing initial inflation.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Table of Abbreviations and Terms
- A Brief History of Slovakia's Economy
- An Analysis of Slovakia's Key Economic Indicators of Well-being
- Slovakia's Economic Growth
- Slovakia's Openness
- Slovakia's Public Debt
- Future Outlook
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper analyzes the economic developments of the Slovak Republic since its EU accession in the early 2000s, encompassing the European monetary crisis of 2008-2009. It examines key indicators of economic well-being, both domestic and international, and explores the factors driving these developments. The analysis also assesses Slovakia's recovery from the economic crisis.
- Slovakia's economic performance since its EU accession
- Impact of the European monetary crisis on Slovakia's economy
- Analysis of key economic indicators, including economic growth, openness, public debt, and foreign direct investment
- Factors driving Slovakia's economic development
- Assessment of Slovakia's economic recovery from the crisis
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides an overview of the paper's scope and methodology. The "Table of Abbreviations and Terms" defines key terms used throughout the paper. "A Brief History of Slovakia's Economy" traces the country's economic development, highlighting its EU accession and its emergence as a "Tatra Tiger." This chapter also discusses the country's significant openness to foreign trade and investment, particularly in the automotive sector.
"An Analysis of Slovakia's Key Economic Indicators of Well-being" delves into specific economic indicators, examining factors such as economic growth, openness, and public debt. The chapter aims to provide a comprehensive overview of Slovakia's economic performance and its key challenges.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this paper include: Slovak Republic, economic development, European Union, economic indicators, economic growth, openness, foreign direct investment, public debt, European monetary crisis, "Tatra Tiger," Visegrád Group.
- Quote paper
- John Peacock (Author), 2015, The economic development of the Slovak Republic from post-Soviet control to present day. An Economic Analysis, Munich, GRIN Verlag, https://www.grin.com/document/366627
