HawkeyCzech - Czechoslovakia in Transition Adam Hawkey...

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Unformatted text preview: Czechoslovakia in Transition Adam Hawkey Outline Macroeconomic Indicators Contributing to Transition Shock Therapy How the Government went about transition Economic Status Inflation, Unemployment etc Benchmarking Against other European transition economies The Future Foreign Investment The Velvet Revolution The Economy as well as politics were equally responsible The Economy in 1989 was facing many problems Becomes stagnant Economic Indicator N ational Inc om e G row th 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 1980 1985 1986 1987 1988 1989 N ational Inc om e G row th Macroeconomic Indicators 1970 1975 1980 1985 1989 10 20 30 40 50 60 70 80 Total C ons um ption Total Inves tm ent Total S avings Transition Market Political Transition Civic Forum had dominant position Initially implemented gradualism Mixed economy Privatizing of the economy Public activities Try to force people to apply for jobs or attend universities Gradualism did not work because people did not want to be forced Benefits upon Transition Czechoslovakia had economic advantages over Other Central and East European countries State budgets balanced Inflation was low Strong industrial history Skilled labor Natural Resources Coal Negatives Upon Transition Underdeveloped service sector Neglected Infrastructure Ineffcient planning Planners = No Autonomy Government focus on big enterprises monopolies Shock Therapy Started January 1 st 1991 Macroeconomic Stabilization Restrictive fiscal and monetary policy Reintroduce equilibruim Strict credit from bank Lack of Subsidies Liberalization of prices Liberalization of external trade...
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HawkeyCzech - Czechoslovakia in Transition Adam Hawkey...

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