The Determinants of Regional Unemployment in Slovakia
Date
2011
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Open Access
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Abstract
The Republic of Slovakia experienced strong economic growth during the first decade in the 21st century. Nevertheless, this growth was unable to substantially decrease persistent unemployment in certain regions. Interestingly, changes in regional unemployment did not follow the model put forward under Okun’s Law-–a well-documented theory relating GDP growth to changes in unemployment--between 2001 and 2007. This study examines the specific economic and social determinants which impact regional unemployment in Slovakia using a standard OLS regression. The model indicates that much of the variation in changes in unemployment arise from characteristics unique to each respective region, indicating that the solution to persistent unemployment lies at the regional, not the national, level.