Reálná konvergence České republiky k eurozóně

Abstract

The thesis analyzes real economic convergence of the economy of the CzechRepublic to the eurozone economy. The theoretic part of the thesis defines the economic convergence, summarizes and compares various approaches of economic theory to the economic convergence and provides econometric models that can can be used to examine the real economic convergence. The empirical part analyzes the convergence of economic and price levels of the economy of the CzechRepublic and the euro area economies to the average economic and price level of the euro area.The analysis is performed on annual cross-sectional data of 17 eurozone countries and data of the Czech Republic in the period 1995-2009. A cross-sectional regression analysis of data is used as the key method of research. The results of empirical tests verify the convergence of the Czech economy and the individual euro area economies to the average economic and price level of the euro area. The estimates also provide discrepancy between the speed of economic and price levels convergence.The process of price levels convergence is faster than the convergence of economic levels for surveyed economies.