Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105378
Authors: 
Jasiński, Tomasz
Mielcarz, Paweł
Year of Publication: 
2013
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2084-0845 [Publisher:] Vizja Press & IT [Place:] Warsaw [Volume:] 7 [Year:] 2013 [Issue:] 2 [Pages:] 5-16
Abstract: 
The economic recession of 2007-2009 proved to be a difficult period for most European economies. Poland was among the few countries that recorded positive gross domestic product (GDP) growth during that period. The main reason for its performance was that private consumption stimulated the GDP. The goal of this study was to explore the reasons that private consumption in Poland did not collapse during the economic recession through the substantial economic literature on this topic. The study compared Spain, Hungary and Poland from 2007 to 2009 to find differences specific to the latter. The most important factors differentiating Poland identified in this study were the confidence of Polish consumers in the economy and a high propensity to spend resulting in lower savings. Additional factors were a relatively low unemployment rate and relatively easy access to credit.
Subjects: 
Poland
Spain
Hungary
GDP growth
consumption
JEL: 
G11
G12
G15
Persistent Identifier of the first edition: 
Document Type: 
Article
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