The Development of Economic and Social Indicators in V4 Countries

After the transition from a centrally planned economy to a market-based economy, and following EU membership, there were significant changes in particular branches of national economies in new member states, thereby reducing the self-sufficiency of these economies. In particular, we focused on central European countries. The aim of the paper was to assess the development of economic and social indicators in particular branches of national economies. To study the situation in these branches we focused on the following social and economic indicators, e.g. employment rate, unemployment rate by branches, people at risk of poverty, salaries in selected branches, gross fixed capital formation, share on GDP, the balance of payments and foreign direct investments. Furthermore, we studied the development of particular indicators in transition period followed by assessing their correlation to each other using appropriate statistical methods. In general, we assumed a positive correlation between the majority of social and economic indicators. In the end, these results were compared in chosen central European countries.