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From Central Planning to the Market - The Transformation of the Czech Economy 1989 - 2004 (Hardcover)
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From Central Planning to the Market - The Transformation of the Czech Economy 1989 - 2004 (Hardcover)
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This book describes the process of the Czech economic
transformation from the beginning of the 1990s to the country's
entry into the European Union in 2004. This transformation is
divided into four periods: an initial recession caused by the
transformation; economic growth in the mid-1990s; a recession
connected to the currency crisis of 1997; and recovery and growth
from 1999 until 2004, when the analysis ends. The examination
covers the main aspects of the transformation - an overall view of
the process, political transition, economic policy, economic
results (GDP development, inflation, unemployment), changes in
outside indicators (balance of payments), privatization,
transformation of the financial sector, and changes in the business
sector and institutional development. The book also compares Czech
development in this transformative era to those of Poland and
Hungary. As in Hungary and Poland, the Czech Republic underwent an
exceptional qualitative shift from a system centrally planned to
one that was market-based. The book concludes that despite mistakes
and hardships, the overall transformation process in Central Europe
has been successful.
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