OVERCOMING OF LAG IN THE CAPITAL TO LABOUR RATIO IN THE SLOVAK ECONOMY

• Authors: Morvay Karol , Hudcovský Martin
• Languages of publication: EN

Abstracts

EN

The paper examines the problem of capital to labour ratio lag in the Slovak economy. It proves that the undercapitalization has significantly eased since the year 2004 in Slovakia. The undercapitalization, which was perceived as a barrier to a higher performance of former transition economies was mainly present in the sectors, which have already been traditionally represented in the former socialist economies. It was not such a problem for sectors which newly formed only in the post-socialist period. Although the Slovak economy lagged in the capital intensity behind the most advanced economies, the position of the Slovak Republic was relatively favourable in the group of Central and Eastern Europe. However, in the process of undercapitalization overcome, the Slovak Republic did not experience similar structure of fixed capital formation as it is in the most advanced economies. The dynamics of machinery and equipment accumulation was particularly high along with the insignificant accumulation of intellectual assets.

Keywords

EN

CAPITAL; LABOUR RATIO; GROSS FIXED CAPITAL; FIXED ASSETS; SLOVAKIA

• Publisher: Institute of Slovak and World Economics and Institute for Forecasting, Slovak Academy of Sciences
• Journal: Ekonomický časopis (Journal of Economics)
• Year: 2018
• Volume: 66
• Issue: 8
• Pages: 838 – 851

Contributors

author

Morvay Karol

• Institute of Economic Research SAS, Šancová 56, 811 05 Bratislava 1, Slovak Republic

author

Hudcovský Martin