The Impact of the Economic Transition on Domestic Output in the Former Czechoslovakia: Foreign Trade Indicators and Government Policy
The recent process of the transition to market systems in the Central European economies has had profound effects on both trade and domestic output. Two of the by-products of the transition, the fall in the volume of intra-COMECON trade as well as the deliberate tightening of the fiscal stance in th...
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Veröffentlicht in: | European business review 1994-01, Vol.94 (3), p.9-14 |
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Hauptverfasser: | , |
Format: | Artikel |
Sprache: | eng |
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Zusammenfassung: | The recent process of the transition to market systems in the Central
European economies has had profound effects on both trade and domestic
output. Two of the by-products of the transition, the fall in the volume
of intra-COMECON trade as well as the deliberate tightening of the
fiscal stance in the economies of these countries, have contributed
significantly to a fall in the level of manufacturing output,
particularly in the case of the former Czechoslovakia. Examines the
implications of the behaviour of the trade account and of government
fiscal policy for the domestic manufacturing sector in former
Czechoslovakia between 1990 and 1992. Industrial restructuring was
extreme, leading to increased reliance on imports: however, the
contraction in the manufacturing sector may have kept wages pressures
and inflation low, as well as attracting foreign investment, leading to
a relatively successful transition for the Czech Republic. |
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ISSN: | 0955-534X 1758-7107 |
DOI: | 10.1108/09555349410055564 |