Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary
The economic recession of 2007-2009 proved to be a difficult period for most European economies. Poland was among the few countries that recorded positive gross domestic product (GDP) growth during that period. The main reason for its performance was that private consumption stimulated the GDP. The...
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| Format: | Article |
| Language: | English |
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VIZJA University
2013-06-01
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| Series: | Contemporary Economics |
| Online Access: | http://ce.vizja.pl/en/download-pdf/id/279 |
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| author | Tomasz Jasiński Paweł Mielcarz |
| author_facet | Tomasz Jasiński Paweł Mielcarz |
| author_sort | Tomasz Jasiński |
| collection | DOAJ |
| description | The economic recession of 2007-2009 proved to be a difficult period for most European economies. Poland was among the few countries that recorded positive gross domestic product (GDP) growth during that period. The main reason for its performance was that private consumption stimulated the GDP. The goal of this study was to explore the reasons that private consumption in Poland did not collapse during the economic recession through the substantial economic literature on this topic. The study compared Spain, Hungary and Poland from 2007 to 2009 to find differences specific to the latter. The most important factors differentiating Poland identified in this study were the confidence of Polish consumers in the economy and a high propensity to spend resulting in lower savings. Additional factors were a relatively low unemployment rate and relatively easy access to credit. |
| format | Article |
| id | doaj-art-23e7dcc7e97b43cd9236d08fc8ac6a90 |
| institution | OA Journals |
| issn | 2084-0845 |
| language | English |
| publishDate | 2013-06-01 |
| publisher | VIZJA University |
| record_format | Article |
| series | Contemporary Economics |
| spelling | doaj-art-23e7dcc7e97b43cd9236d08fc8ac6a902025-08-20T01:58:51ZengVIZJA UniversityContemporary Economics2084-08452013-06-017219810.5709/ce.1897-9254.78Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and HungaryTomasz JasińskiPaweł MielcarzThe economic recession of 2007-2009 proved to be a difficult period for most European economies. Poland was among the few countries that recorded positive gross domestic product (GDP) growth during that period. The main reason for its performance was that private consumption stimulated the GDP. The goal of this study was to explore the reasons that private consumption in Poland did not collapse during the economic recession through the substantial economic literature on this topic. The study compared Spain, Hungary and Poland from 2007 to 2009 to find differences specific to the latter. The most important factors differentiating Poland identified in this study were the confidence of Polish consumers in the economy and a high propensity to spend resulting in lower savings. Additional factors were a relatively low unemployment rate and relatively easy access to credit.http://ce.vizja.pl/en/download-pdf/id/279 |
| spellingShingle | Tomasz Jasiński Paweł Mielcarz Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary Contemporary Economics |
| title | Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary |
| title_full | Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary |
| title_fullStr | Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary |
| title_full_unstemmed | Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary |
| title_short | Consumption as a Factor of Polish Economic Growth During the Global Recession of 2008/2009: A Comparison with Spain and Hungary |
| title_sort | consumption as a factor of polish economic growth during the global recession of 2008 2009 a comparison with spain and hungary |
| url | http://ce.vizja.pl/en/download-pdf/id/279 |
| work_keys_str_mv | AT tomaszjasinski consumptionasafactorofpolisheconomicgrowthduringtheglobalrecessionof20082009acomparisonwithspainandhungary AT pawełmielcarz consumptionasafactorofpolisheconomicgrowthduringtheglobalrecessionof20082009acomparisonwithspainandhungary |