DOI: 10.32725/978-80-7394-976-1.17

The expenditure side of GDP in the crisis period in the EU

Martina Novotná, Tomáš Volek, Antonín Šmejkal
University of South Bohemia in České Budějovice, Faculty of Economics, Department of Applied Economics, Studentská 13, České Budějovice, Czech Republic, novotna@ef.jcu.cz.
University of South Bohemia in České Budějovice, Faculty of Economics, Department of Applied Economics, Studentská 13, České Budějovice, Czech Republic, volek@ef.jcu.cz.
University of South Bohemia in České Budějovice, Faculty of Economics, Department of Applied Economics, Studentská 13, České Budějovice, Czech Republic, asmejkal@ef.jcu.cz.


The reduction of economic activity related to crises is natural. The double-dip recessions are emerging in economies.  The article deals with two crises, namely global financial crisis (2008-2009) and the coronavirus crisis (2020-2021). The drivers of these crises are different. The EU states used measures to minimize the consequences of the crises, which manifested themselves with varying intensity in their spending. The paper focuses on the comparison of the impact of the two crises on the expenditure side of GDP in the economies of the EU states. The paper analyses the real effects of factors on changes in GDP in individual EU states. The analysis showed a different response of individual expenditures and economic policies to these two crises. In the crisis period of the coronavirus was found a higher degree of synchronization of the impact on changes in spending in EU countries.  A different reaction is evident in the area of fiscal policy and its impact on both crises. It can be expected that the subsequent crisis associated with the war in Ukraine and the energy crisis will affect all components of expenditure side GDP. 

Keywords: crisis period, expenditure side, GDP, EU.

pages: 109-114



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