History of Czech Economic and Political Alignments Viewed as a Transition

Vladimír Benáček
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Vladimír Benáček: Charles University

Chapter 4 in Small Countries in a Global Economy, 2001, pp 133-154 from Palgrave Macmillan

Abstract: Abstract For many authors transition is understood as an institutional change due to fundamental changes in relative prices and/or changes in sociopolitical preferences, as outlined by North (1990). A radical change of this kind entails a transition to new equilibria in such characteristics like ownership, exchange, organisations, dominant economic agents and incentives. In this paper, transition will be associated with a long-run path of change in the economic system caused by the dislocations in: domestic markets and international trade, previous allocation of resources, the stability of previous structures of ownership, and political and economic alignments.

Keywords: Exchange Rate; Purchase Power Parity; Market Exchange Rate; Small Nation; Economic Convergence (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1057/9780230513198_5

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