Particularities in Income Structure Development in the Slovak Economy Cover Image

Osobitosti vývoja štruktúry príjmov v slovenskej ekonomike
Particularities in Income Structure Development in the Slovak Economy

Author(s): Károly Morvay
Subject(s): Economy
Published by: Ekonomický ústav SAV a Prognostický ústav SAV
Keywords: income; wage share; value added; national accounts

Summary/Abstract: In Slovak economy a structure of income (on macro-level) has formed, which is far from the usual income structure in advanced economies. The wage share significantly lagged (and declined further). The wages were largely substituted by mixed income of self-employed persons. This kind of income restructuring is associated with risks for some segments of public finance (especially for sectors financed from social contributions). While the economic performance level converged gradually to the level of most advanced economies, the income structure was more on the path of divergence. Changes in the income structure were driven by shifts in sectoral composition of the economy (e.g. expansion of branches with low wage share), but also by technological progress within sectors and branches (e.g. growth of capital intensity).

  • Issue Year: 61/2013
  • Issue No: 04
  • Page Range: 327-343
  • Page Count: 17
  • Language: Slovak