Vývoj polské a české ekonomiky v průběhu Velké recese

The aim of this bachelor thesis is to answer the question why the impact of the Great Recession on the Polish economy was so much smaller than on the Czech economy. The first part provides an explanation of what the Great Recession was, what led to it and what triggered it, also its impact on the Czech and Polish economy is mentioned. In the second part there is an analysis of different factors which answer the research question, that is the role of funds received from the European Union, the evolution of the exchange rate of the national currencies and the terms of trade in both economies as well as the international trade of both countries. In the conclusion, the findings resulting from individual parts of the thesis are summarised. The effect of European funds was higher in Poland than in the Czech Republic. The Polish currency also depreciated more than the Czech currency and what is more, the development of terms of trade was better in Poland. The Czech economy was also more vulnerable due to a higher orientation towards cyclical industries. In addition to that, Poland’s exports were more diversified and the country did not rely on exports so much.