Comparative Price Levels of New EU Member Countries

• Autorzy: Josef Taušer , Pavel Žamberský
• Języki publikacji: EN

Abstrakty

EN

This article analyzes comparative price levels of 10 new EU member countries from Central, East, and South-East Europe and discusses their main determinants. A comparison of comparative price levels is logically followed by a comparison of relative GDP per capita in purchasing power parities. Further, the Balassa-Samuelson effect is theoretically explained and empirically tested using a sample of EU27 countries (excluding Luxemburg). The results of simple regression analysis confirm that differences in comparative price levels can be explained by the differences in relative GDP per capita in purchasing power parities. Besides the Balassa-Samuelson effect there are, however, many other factors that have an impact on comparative price levels. They are related to the lower competitiveness of domestic companies on international markets as the result of such factors as a lower quality of production, inefficient organizational structures and management styles, insufficient marketing and business skills, or a poor approach to international distribution channels. (original abstract)

Słowa kluczowe

PL

Produkt krajowy brutto (PKB); Rynki międzynarodowe

EN

Gross domestic product (GDP); International market

• Czasopismo: International Journal of Management and Economics
• Rocznik: 2013
• Numer: nr 39
• Strony: 9-17

Twórcy

autor

Josef Taušer

• University of Economics in Prague, Czech Republic

autor

Pavel Žamberský

• University of Economics in Prague, Czech Republic

Bibliografia

• Balassa B. (1964), The Purchasing-Power Parity Doctrine: A Reappraisal, The Journal of Political Economy, No. 6, Dec.
• Blanchard J.O., Fischer, S. (2000), Lectures on Macroeconomics, The MIT Press, London.
• Borgersen T. and King R.M. (2011), Reallocation and Restructuring: A Generalization of the Balassa-Samuelson Effect. Structural Change and Economic Dynamics, Vol. 22, No 4, pp. 287-298.
• Cassel G. (1918), Abnormal Deviations in International Exchanges, Economic Journal No. 28.
• Čihák M. and Holub T. (2005), Price Convergence in EU-Accession Countries: Evidence from the International Comparison, Economie Internationale No. 102, pp. 59-82.
• Dreger Ch.K. et al. (2008), Price Convergence in an Enlarged Internal Market, Eastern European Economics. Vol. 46, No. 5, pp. 57-68.
• Eurostat, http://epp.eurostat.cec.eu.int, May 2016.
• Krugman P.R., Obstfeld M. (2008), International Economics: Theory and Policy. Addison-Wesley.
• Matei I. (2009), Testing for Price Convergence: How Close Are EU New Member's States to Euro Zone? Economics Bulletin, Vol. 29, No. 4, pp. 3083-3094.
• Nešvera V. (2006), Analýza vývoje cen v zahraničním obchodě se zeměmi EU [online], Praha: Český statistický úřad, No. 96: http://www.czso.cz/csu/2006edicniplan.nsf/t/060053C386/$File/cele.pdf. Analýzy ČSÚ
• Pilbeam K. (1992), International Finance, Macmillan Press LTD, 1992.
• Samuelson P.A. (1964), Theoretical Notes on Trade Problems, The Review of Economics and Statistics, May.
• Zhou K. (2011), Is the Chinese Renminbi Undervalued? An Examination of the B-S Effect Using Diverse Datasets, China Economist, Vol. 6, No. 6, pp. 102-111.
• Žďárek V. (2009), Challenges for the New EU Member States on the Road to the Eurozone, International Economics & Economic Policy, Vol. 6, No. 2, pp. 157-177.
• Žďárek V. (2011), An Empirical Analysis of the Process of Price Convergence of the Czech Republic and New EU Member States towards the Euro Area, Politická Ekonomie, Vol. 59, No. 4, pp. 454-474