В търсене на факторите за ефекта на световната криза върху икономиките

Abstract

The paper tries to establish a link between the pre-crisis economic environment and the cross-country differences in the growth rates during the last recession. The sample includes the EU member states. According to the results, deeper recession experience countries with higher rates of growth of credits to households, prices of real property as well as gross debt-to-income ratio. The study can not find statistically significant evidence for the role of fiscal policy and the size of government.