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Personal Bankruptcies from Macroeconomic Perspective


Affiliations
1 University of Economics, Prague, nám. W. Churchilla 4, Prague 3, 130 67, Czech Republic
2 Czech Technical University in Prague, MIAS School of Business & Interdisciplinary Studies, Department of Economic Studies, Kolejní 2637/2a, Prague 6, 160 00, Czech Republic
 

Personal bankruptcies are traditionally discussed from legal, microeconomic or social point of view. This paper focuses on the development of personal bankruptcies in the Czech Republic during the time period 2008-2016 and aims to connect performance of economy and the development of personal bankruptcies. As statistical tools there are used descriptive statistics and regression and correlation analysis. For the economy performance are used the measures of GDP, unemployment rate, household indebtedness and share of debts in default. Based on the results of the analysis there shall be said that lower economic performance influences increasing number of personal bankruptcies. This conclusion has significant consequences for the government and its politics, banks and other financial institutions.

Keywords

Debt Relief, Czech Republic, Macroeconomic Development, Over Indebtedness.
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  • Personal Bankruptcies from Macroeconomic Perspective

Abstract Views: 219  |  PDF Views: 90

Authors

Jan Kubalek
University of Economics, Prague, nám. W. Churchilla 4, Prague 3, 130 67, Czech Republic
Dagmar Camska
Czech Technical University in Prague, MIAS School of Business & Interdisciplinary Studies, Department of Economic Studies, Kolejní 2637/2a, Prague 6, 160 00, Czech Republic
Jirí Strouhal
Czech Technical University in Prague, MIAS School of Business & Interdisciplinary Studies, Department of Economic Studies, Kolejní 2637/2a, Prague 6, 160 00, Czech Republic

Abstract


Personal bankruptcies are traditionally discussed from legal, microeconomic or social point of view. This paper focuses on the development of personal bankruptcies in the Czech Republic during the time period 2008-2016 and aims to connect performance of economy and the development of personal bankruptcies. As statistical tools there are used descriptive statistics and regression and correlation analysis. For the economy performance are used the measures of GDP, unemployment rate, household indebtedness and share of debts in default. Based on the results of the analysis there shall be said that lower economic performance influences increasing number of personal bankruptcies. This conclusion has significant consequences for the government and its politics, banks and other financial institutions.

Keywords


Debt Relief, Czech Republic, Macroeconomic Development, Over Indebtedness.

References





DOI: https://doi.org/10.15759/ijek%2F2017%2Fv5i2%2F190299