Nerovnováha medzi vývojom domáceho dopytu a vývojom výkonnosti ekonomiky v stredoeurópskych transformujúcich sa štátoch
AN IMBALANCE BETWEEN DOMESTIC DEMAND AND ECONOMY PERFORMANCE DEVELOPMENT IN CENTRAL EUROPEAN TRANSITION COUNTRIES

Summary/Abstract: A professional literature has frequently reminded that the macroeconomic imbal-ance occurring in the post-socialist reform countries is, except for other reasons, caused also by an excessive growth of the domestic demand. Offer structures, lacking required flexibility, cannot react appropriately as regards some components of the quickly growing domestic demand and this gives rise for dramatic expansion of further imbalances. The objective of this article is to map this phenomenon, it attempts to describe also with quantitative measures the problem of opened scissors between the domestic de-mand and the economy performance development (shown on the GDP increase) or to compare the level of such imbalances within selected Central European transition countries. A total volume of the domestic demand in the market economy is created partly from the domestic demand, which is covered by the gross domestic product for domes-tic use (GDP minus exports), further on by a part covered by exports, and, by a part covered by the increase in prices. The alternative composition of the domestic demand coverage describes how the domestic demand is covered with the help of GDP, with the help of excessive imports over exports (passive goods and services balance) and with increase in prices. Let us assume the existence of a perfectly functioning ideal balanced economy (however, the transition economy will never be like that). There will be no price in-crease, no imports over exports surplus because exports and imports would be in har-mony. In such a perfectly balanced economy the volume of domestic demand would fully correspond with the GDP volume. However, a perfect economy is just a fiction, but this article points at the fact that in selected small scale developed economies the composition of a domestic de-mand is very close to the above described optimum status. As an example the countries like Austria, Holland and Switzerland were selected. In each economy, which shows deviations from a fully balanced economy, it is rea-sonable to take into account that part of the domestic demand, which cannot be covered by the GDP. Within the scope of the GDP non-covered domestic demand there is a spa-ce for growing disbalancing factors. The imbalance between the domestic demand and the GDP is composed of that part of the domestic demand which is covered by the excessive imports over exports and which is covered by the price increase. ...

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