I studied the impact of the following factors on the real GDP growth rate in EU member countries in 2009, which incidentally was negative then, depicting a period of recession:
- Geographical location: Location in Central, Eastern, Northern, Southern or Western Europe.
- Whether the country joined the European Community / Union after 1980: The formation of the European Bloc has continued since 1950's from being a community with a few member countries to the 27 member EU that it is now
- The presence of a communist regime in the past
- The country in question being landlocked
Here is a summary of the results:
- The average real GDP growth rate for a country that is landlocked, joined European Union after 1980 and was formerly governed by a communist regime is -11.97.
- The countries that have not had a communist regime in the past, will have, on average, a lower value of negative real GDP growth rate, by 5.56 percent.
- A country that is not landlocked will have a lower value of negative GDP growth rate, by 5.4 percent.
- An EU member in the central region will have lower recession value by 6.18 percent.
- An EU member in the Northern region is observed to have had, on average, a higher value of recession by -7.2 percent.The actual real GDP growth numbers are as mentioned below:
EU Member Real GDP growth rate in 2009 Austria -3.8 Belgium -2.8 Bulgaria -5.5 Croatia -6.9 Cyprus -1.9 Czech Republic -4.5 Denmark -5.7 Estonia -14.1 Finland -8.5 France -3.1 Germany -5.1 Greece -3.1 Hungary -6.8 Ireland -6.4 Italy -5.5 Latvia -17.7 Lithuania -14.8 Luxembourg -5.6 Malta -2.8 Netherlands -3.7 Poland 1.6 Portugal -2.9 Romania -6.6 Slovakia -4.9 Slovenia -7.9 Spain -3.8 Sweden -5 United Kingdom -5.2
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