Determinants of the Economic Growth of Germany - Case Study

Bc. Miroslav Špaček

Diplomová práce

Abstract:

The objective of this diploma thesis is to identify the primary macroeconomic determinants driving the economic growth of Germany in the 21st century, focusing on their quantitative effects and statistical significance. Through rigorous econometric modelling, covering the period from 1992 to the present, the research examines three principal macroeconomic variables: the inflation rate, the unemployment rate, and the interest rate. Additionally, two other variables are included to control for economic shocks. The findings reveal that the unemployment rate is the most significant factor influencing Germany's economic growth, aligning with Okun's law but with a more substantial effect than traditionally theorized. The analysis identifies four significant periods of economic downturn: post-reunification years, the Great Recession, the Eurodebt crisis, and the COVID-19 pandemic. Future economic growth in Germany hinges on the quality of education and the ability to attract qualified foreign workers. These findings underscore the importance of labor market dynamics and human capital development in sustaining economic growth.

Keywords

economic growth, Germany, macroeconomic indicators, unemployment, recession

Jazyk práce: angličtina

Datum vytvoření / odevzdání či podání práce: 31. 3. 2025

Obhajoba závěrečné práce

• Obhajoba proběhla 5. 6. 2025
• Vedoucí: Ing. Karel Malec, Ph.D.
• Oponent: Robert Koželský, externi

Česká zemědělská univerzita v Praze

Provozně ekonomická fakulta

Magisterský studijní program:
Economics and Management