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  • 1 Central European University and the Poznam University of Economics Poznam Poland
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This article examines the impact of different exchange rate regimes on economic conditions during an external economic shock. It focuses on the recent global recession of 2008 and analyses its impact on two emerging market economies: Poland and Slovakia. These countries share many similarities, such as location, main trading partners and the general level of development. However, they differ significantly in the size of their economies and economic openness. They adopted radically different currency arrangements as well, which determined the way their economies were influenced by the economic turmoil. The article examines the role of foreign loans and the export structure as potential factors influencing the Slovak and Polish economies. Several economic indicators are analysed and compared, including trade balance, inflation, conditions in the tourism sector and credibility with the investor community. The paper argues that Poland substantially benefited from its monetary autonomy and the depreciation of the Polish Zloty. The weaker currency triggered a significant expenditure switching effect and improved the balance of trade. The membership in the Euro-zone had a blurred impact on Slovakia, it increased stability and credibility, however, it did not allow nominal adjustments to cushion the real economy.

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Editor-in-chief: Balázs SZENT-IVÁNYI

Co-Editors:

  • Péter MARTON (Corvinus University, Budapest)
  • István KÓNYA (Corvinus University, Budapest)
  • László SAJTOS (The University of Auckland)
  • Gábor VIRÁG (University of Toronto)

Associate Editors:

  • Tamás BOKOR (Corvinus University, Budapest)
  • Sándor BOZÓKI (Corvinus University Budapest)
  • Bronwyn HOWELL (Victoria University of Wellington)
  • Hintea CALIN (Babeş-Bolyai University)
  • Christian EWERHART (University of Zürich)
  • Clemens PUPPE (Karlsruhe Institute of Technology)
  • Zsolt DARVAS (Bruegel)
  • Szabina FODOR (Corvinus University Budapest)
  • Sándor GALLAI (Corvinus University Budapest)
  • László GULÁCSI (Óbuda University)
  • Dóra GYŐRFFY (Corvinus University Budapest)
  • György HAJNAL (Corvinus University Budapest)
  • Krisztina KOLOS (Corvinus University Budapest)
  • Alexandra KÖVES (Corvinus University Budapest)
  • Lacina LUBOR (Mendel University in Brno)
  • Péter MEDVEGYEV (Corvinus University Budapest)
  • Miroslava RAJČÁNIOVÁ (Slovak University of Agriculture)
  • Ariel MITEV (Corvinus University Budapest)
  • Éva PERPÉK (Corvinus University Budapest)
  • Petrus H. POTGIETER (University of South Africa)
  • Sergei IZMALKOV (MIT Economics)
  • Anita SZŰCS (Corvinus University Budapest)
  • László TRAUTMANN (Corvinus University Budapest)
  • Trenton G. SMITH (University of Otago)
  • György WALTER (Corvinus University Budapest)
  • Zoltán CSEDŐ (Corvinus University Budapest)
  • Zoltán LŐRINCZI (Ministry of Human Capacities)

Society and Economy
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2020  
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24
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2019  
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10
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Sociology and Political Science Q3
Strategy and Management Q3
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Business and International Management 286/394 (Q3)
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Industrial Relations 38/58 (Q3)
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Sociology and Political Science 645/1243 (Q3)
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22

 

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Society and Economy
Language English
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1972
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2021 Volume 43
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ISSN 1588-9726 (Print)
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