Czech Republic's Economic Transformation

Research Paper (undergraduate) from the year 2011 in the subject Economics - History, grade: A+, University of Toronto, language: English, abstract: The paper's organization is as follows. First we discuss what we mean by transition, "e;big bang"e;, and "e;gradual"e; and we clear up the discrepancy in the literature regarding whether or not the Czech experience adhered to "e;big bang"e; or "e;gradualism"e; (it used both in fact). Second, we discuss the inefficiencies in the Czech experience: employment, strategy, and finances, which showed up in the gradual phases of transition. Third, we discuss the CzechRepublic s reaction to these inefficiencies. Fourth, we analyze the significance of setting. Fifth, we conclude by comparing the Czech experience to other post-communist countries and by discussing what comes next.