Template-Type: ReDIF-Article 1.0

Author-Name: Zsolt Becsey, Jr.
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: becseyzs@mnb.hu

Author-Name: Aron Mate
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: matear@mnb.hu


Title: Successful Convergence in the Visegrad Region: the Example of Czechia

Abstract: Czech economic development has been characterised by a steady convergence
process over the last almost three decades, with Czech GDP per capita now
almost reaching the EU average. In our study we present the factors behind this
development in relation to the V4 region and especially to Hungary. Our main finding
is that the source of economic growth over the past 20 years has been efficiency
and technology improvements, along with improving labour market conditions and
a high, favourably structured investment rate. The important factors in this regard
include high domestic ownership in most priority sectors, investment in human
capital, a relatively balanced regional structure, support for R&D and the rise of
digitalisation. The stability of the Czech economy suggests that Western European
living standards will be achieved and maintained.

Classification-JEL: 
Keywords: 
Pages: 157-169.
Volume: 20
Issue: 4
Year: 2021
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-20-4-fa2-becsey-mate.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:20:y:2021:i:4:p:157-169.