engleski

The change in the GDP per capita values across the countries of the European Union before and during the crisis

GDP per capita shows the value of all goods and services produced during one year in a certain country per inhabitant. As one of the most widely used measures of economic development, GDP per capita is the variable whose changes in values can be a good indicator of the strength of the crisis. In this paper GDP per capita is used in PPS, assuming that the EU-28 average has the value 100. All the EU countries will be analyzed in two periods: before the crisis (2001-2007) and during the crisis (2008-2012). For each country two econometric models will be done. The aim of this analysis is to compare the average annual change before the crisis and during the crisis. Comparing these values will enable to detect the strength of the influence of the crisis in each EU member country. Greater difference means greater impact of the crisis. This is the indicator that is different from the mostly used GDP growth rate, because it shows the changes in the growth rates. The greater negative value of the indicator shoes the greater influence of the crisis.

GDP per capita in PPS; European Union; crisis; econometric model

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