FIN 417 Lecture 5: Speaker - Lecture 5
7 Feb 2017
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Document Summary
After wwii czech republic assigned to the eastern part of europe dominated by the soviet union. A move to a centrally planned economy because of the dominant communist influences. In the sense of economic growth, the two economic systems went different ways since the (cid:1005)97(cid:1004)"s. Process had begun after the velvet revolution of 1989. It was led by the newly formed elite, but also the former one (unfortunately) People with little experience of in government were highly involved. Too many people involved selfishly looking to benefit from the changing economic condition. The degree of state ownership was the highest among the cee. Main goal was setting up the process what comes first, what comes second, how should it be implemented. In the end, economic reforms proceeded institutional and legal ones. People who understood how to navigate the new system made substantial amounts of money.
