Srovnání makroekonomického vývoje České republiky a Slovenska v období finanční krize 2008

This thesis examines the macroeconomic development of the Czech Republic and Slovakia during the global financial crisis of 2008. It focuses on the impact of different monetary regimes, as the Czech Republic retained its own currency while Slovakia adopted the euro in 2009. The hypothesis is that the Slovak economy developed differently from the Czech economy during the crisis period in connection with the adoption of the euro. The hypothesis is tested using a panel econometric model based on quarterly data for the period 2005–2012. The model examines the effects of euro area economic growth, the crisis period, export orientation, and the interaction between euro area membership and the crisis period on year-on-year real GDP growth. The results show that the economic development of the Czech Republic and Slovakia differed during the crisis; however, the adoption of the euro alone cannot be considered the sole cause of these differences.