Examination of Selected Economic Perspectives in the Mining Industry

Abstract

The objective of this study was to evaluate and compare the development of the mining industry in Slovakia from an economic point of view. Attention was also paid to possible changes after the intervention leading to the transformation of the mining industry, especially in the Hornonitriansky region. Descriptive analysis, frequency analysis, and regression analysis (Interrupted Time Series) were used to meet this objective. The analyses included four economic indicators related to industrial areas, namely turnover, employed persons, nominal wages, and labour productivity. The data were analysed for the period 2008–2020. Compared to other industrial areas, the mining industry showed nominal wages at a slightly above-average level, while other indicators were at a lower level. In terms of the position in the overall structure of industrial areas, the mining industry had less positive positions but was comparable to several industries. Nominal wages and labour productivity in the mining industry showed a markedly increasing trend during the analysed period, while turnover increased only slightly. In terms of the number of employees, there was a visible decreasing trend. The trends in the analysed period were significant. The intervention (amendment) showed a positive relationship with nominal wage increases in the short term. Regarding the post-intervention period, the trend after the intervention did not differ significantly from the trend before the intervention. Mining in Slovakia is a viable industrial area that achieves comparable results as some other industrial areas. All the findings of the study indicate that the mining industry in Slovakia requires special attention in political and social discussions.