 Subnational Finance Today and Tomorrow in the Czech Republic: Impacts of the Financial Crisis and Global RecessionPhillip J. Bryson Chapter Chapter 13 in The Economics of Centralism and Local Autonomy, 2010, pp 229-243 from Palgrave Macmillan Abstract: Abstract The Czech Republic had not participated in the global market for mortgage-backed assets. When the crisis struck Europe, the country had been doing well economically, although it had experienced economic challenges, as discussed in earlier chapters of this book, associated with its transition to market democracy. It had undertaken extensive reforms in its effort to qualify for membership in the EU, and in 2004 it did accede to membership. At the onset of the financial crisis, it was still engaged in the effort to qualify to adopt the euro and was pursuing rather conservative economic and financial policies to advance that effort. Among its most significant economic challenges was the attempt to deliver modern European entitlements in the form of pensions and health care to its citizenry. Having overextended in these areas, the Czech Republic was busy applying the needed discipline to public budgets. Keywords: Czech Republic; Financial Crisis; Central Government; Social Security Contribution; Global Recession (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-11201-8_13 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
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