Faktory ovlivňující ekonomické zotavení členských zemí Evropské unie (EU-27) v období 2015–2025

The thesis analyses factors associated with differences in real GDP growth across the EU-27 in 2015–2025, with a focus on the post-pandemic recovery. The empirical analysis uses panel data for 27 countries and a two-way fixed-effects model. The contribution of the thesis lies in jointly assessing the fiscal stance, public debt dynamics and pre-crisis energy exposure within a single panel of the EU-27. A more expansionary fiscal stance is robustly associated with higher growth in the static specifications. Changes in the debt ratio display a strong negative contemporaneous association, but the negative relationship does not persist when the debt change is lagged; interpretation is also constrained by the mechanical role of GDP in the denominator. Dynamic GMM does not statistically confirm these relationships and is used only as a supplementary check. The hypothesis that countries with higher pre-crisis energy dependence experienced systematically lower growth during the energy crisis is not statistically supported. The results are interpreted as conditional statistical associations rather than causal effects.