EU11 Regular Economic Report, Issue #27, June 2013
This economic report covers economic developments, prospects, and policies in 11 European Union (EU) countries. Throughout the report this group of eleven countries is referred to as EU11.The economic recovery of the EU11 countries was put on hold...
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| Format: | Economic Updates and Modeling |
| Language: | English en_US |
| Published: |
Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2013/06/17854302/eu11-regular-economic-report-macroeconomic-report-economic-recovery-hold-special-topic-determinants-joc-creation-eu11-evidence-firm-level-data http://hdl.handle.net/10986/16527 |
| Summary: | This economic report covers economic
developments, prospects, and policies in 11 European Union
(EU) countries. Throughout the report this group of eleven
countries is referred to as EU11.The economic recovery of
the EU11 countries was put on hold in 2012 as the external
environment weakened and domestic demand subsided. All EU11
countries, with the exception of Latvia, grew slower than in
2011. The overall Gross domestic product (GDP) growth of 0.8
percent in 2012 was just a quarter of the pace recorded the
year before. Domestic demand, in particular investment,
abated, leaving net exports as the sole driver of growth. In
addition, the number of EU11 countries in recession doubled
to four, after the Czech Republic and Hungary joined
Slovenia and Croatia. Overall, this empirical result
confirms that, in qualitative terms, the analyzed firm
characteristics affect job creation both during recessions
and economic recoveries. They indicate that the more
productive firms tend to be less vulnerable to economic
downturns. Accordingly, any type of activities that increase
productivity can be expected to reduce the overall exposure
of the EU11 economies to recessions and, therefore, should
allow firms to compete more successfully with international competitors. |
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