Impact of the Economic Crisis on the Institutional Sectors of the Czech Economy

The article analyzes institutional sectors of the Czech economy since 2000 with respect to the year 2009 when impacts of economic crisis were felt. It is an empirical analysis based on data of the national accounts. The sense was to show the different influence of this crisis on the sector of nonfin...

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Bibliographic Details
Main Author: Drahomíra Dubská
Format: Article
Language:English
Published: Czech Statistical Office 2011-12-01
Series:Statistika: Statistics and Economy Journal
Subjects:
Online Access:http://www.czso.cz/csu/2011edicniplan.nsf/engt/7600291C21/$File/180211q404-21.pdf
Description
Summary:The article analyzes institutional sectors of the Czech economy since 2000 with respect to the year 2009 when impacts of economic crisis were felt. It is an empirical analysis based on data of the national accounts. The sense was to show the different influence of this crisis on the sector of nonfinancial corporations, sector offinancial institutions, government sector and household sector. Initially, the economic crisis hit significantly mainly nonfinancial corporations in sphere of their performance but with little impact on profitability. Sector of financial institutions found in deficit itself in 2009 due to adverse development of interest balance and hugeoutflow of dividends, as well. The result in the household sector was reinforced by changes in redistribution processes both received benefits and paid payments. Received wages and salaries in household sector stagnated. Government sector was hit very significantly by crisis when its deficit doubled in 2009. From a broaderperspective the global financial and economic crisis brought for statistics and analyses also a need to watch not only total figures for economy but also an emphasis on the detailed view on the institutional sectors. This article is an attempt to contribute to this newly arisen and emphasized need.
ISSN:1804-8765