Open AccessGDP Fluctuation and Changes in Consumption and Investment. Comparative Analysis of Polish Economy and Some Countries of the European Union
Author(s) -
Joanna Rydarowska-Kurzbauer
Publication year - 2012
Publication title -
equilibrium
Language(s) - English
Resource type - Journals
eISSN - 2353-3293
pISSN - 1689-765X
DOI - 10.12775/equil.2012.018
Subject(s) - european union , economics , gross domestic product , consumption (sociology) , aggregate demand , investment (military) , world economy , economy , globalization , real gross domestic product , gross private domestic investment , international economics , production (economics) , macroeconomics , market economy , monetary policy , return on investment , political science , social science , open ended investment company , sociology , politics , law
The turn of the century was full of dynamic and multi-dimensional changes in the global economy. The most spectacular phenomena may include financial crises. They exerted influence not only on the economy, in which they appeared, but as a result of deepening of globalization, spread "infecting" others. The purpose of this article was an attempt to find similarities in the dynamics of changes in production and global demand that characterized the economy of the selected European Union countries. The starting point was to show the dynamics of gross domestic product (GDP) in selected countries and to find similarities between them. In the next section attention was focused on the changes in the two components of aggregate demand: consumption and investment, particularly on their correlation with the rate of change of GDP. For analysis and comparisons the following economies were selected: the economy of the European Union (represented by the euro zone) and the economy of Central and Eastern Europe.