Abstract
The aim of the conducted research is to verify III hypotheses. Hypothesis I: changes in GDP and its components should demonstrate higher dynamics in the euro zone countries than in countries using national currencies, taking into account differences in their level of economic development. Hypothesis II: in countries that joined the euro zone during the period under examination, the analyzed indicators should demonstrate higher dynamics after the adoption of the common currency. Hypothesis III: the index of final consumption expenditure of general government should demonstrate lower dynamics in the euro zone countries and a decline in dynamics after the adoption of the euro in the countries that have done so during the period considered. Statistical material was analyzed. Data on GDP dynamics, investments, final consumption expenditure of households and non-profit institutions serving households (later referred to as: "final consumption expenditure"), final consumption expenditure of general government, export and import were used. The research methods used were: the method of analysis and logical construction and a statistical one. The hypotheses tested were only partially confirmed.
Highlights
Countries outside the euro zone have been divided into two groups due to the specific character of their economies, which affects the dynamics of economic growth
In the period 2010 - 2017, i.e. in the period of slow recovery from the financial markets crisis and stabilization of the situation, only in 2011 and 2017 the average GDP growth was higher in Group II, in the remaining years Group III countries were characterized by higher average GDP dynamics
In the case of Latvia, the growth dynamics of non-investment public expenditure after the adoption of the euro can be seen, but in 2017 this indicator increased to 4.1%, higher than in the years preceding the accession to the euro zone, except for 2006 (6.1%)
Summary
The aim of the conducted research is to compare the dynamics of selected economic indicators in the European Union member states and beyond and to formulate conclusions on the impact of the euro on the possibilities of economic development, in the context of emerging statements that the use of the common currency is a negative factor affecting economic growth. The following hypotheses were formulated: − Hypothesis I: changes in GDP and its components should demonstrate higher dynamics in the euro zone countries than in countries using national currencies, taking into account differences in their level of economic development. − Hypothesis II: in countries that joined the euro zone during the period under examination, the analyzed indicators should demonstrate higher dynamics after the adoption of the common currency. − Hypothesis III: due to stricter requirements in relation to the euro zone countries in terms of maintaining budgetary discipline, the index of final consumption expenditure of general government should demonstrate lower dynamics in these countries and a decline in dynamics after the adoption of the euro in the countries that have done so during the period considered
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