Libor Žídek

Impact of Trade on Economic Growth in the Czech and Slovak Republics

This paper examines the relationship between trade and economic growth in the Czech and Slovak Republics. The situation after the Velvet revolution in 1989 is discussed at first. The change of the structure of the trade and the orientation of the trade in both republics are explained and illustrated on available data. The empirical part proved an analysis of the relationship between trade and GDP growth, using econometric analysis. Theory of cointegration, the vector error correction model and Granger causalities are employed. A long-term equilibrium among the investigated variables is identified in both countries. The empirical findings also indicate important role of exports in the economic growth in both republics. We conclude that economic growth in both of the countries can be identified as export-led.

Transformation in Poland

Transformation in Poland The paper analyses transformation process in Poland between 1989 and 2004. The goal of the paper is to clarify the most important steps in the economic policy that were carried out in this period. The structure of the paper follows this general goal. We first of all analyse economic development of the country before the fall of the communist regime because this determined the whole following process. Then we shortly mention political development that had a significant impact on the transformation process, and its results. In the next part we concentrate on the main steps in the economic transformation, and consequently devote place to specific aspects - for example privatisation. The final part analyses the main economic indicators of this period. We conclude that the transformation process achieved its main economic goal and the economys ability to grow increased.

Evaluation of Economic Transformation in Hungary

Abstract The paper analyses transformation process in Hungary between 1989 and 2004. The goal of this paper is to analyze and evaluate the transformation process in Hungary. The structure of the paper follows this general goal. First of all, an analysis of economic development of the country before the fall of the communist regime is carried out because this determined the whole process which followed. Then we shortly mention political development that had a significant impact on the transformation process and its results. In the next part we concentrate on the main steps in the economic transformation, and consequently we devote space to specific aspects - privatization, for example. The main economic indicators of this period are analyzed in the final part. We conclude that the transformation process achieved its main economic goal and the economy’s ability to grow increased. At the same time, however, the transformation process created environment for the subsequent economic problems.

ECONOMIC CRIMES IN THE SHORTAGE ECONOMY

Rational agents react on the incentives in the market economy as well as in the centrally planned economy. Economic laws are persistent regardless the economic system. Legislative system changes the outcome of the game between economic agents and managers. Base on the original survey among former managers as well as on the legislative sources from the 1970?s and 1980?s the taxonomy of economic reactions on the shortage economy was made. We distinguish plan manipulation in order to ensure payment bonuses; bribery in order to gain the short-supplied inputs and reserves? creation for the purpose of the fulfilling the plan. It was shown, that if the rational agent wanted to obey the higher law, he was forced to ignore lower legislation.

The socialist labor market: Equal treatment for everybody?

Komunistický režim v Ceskoslovensku hlasal rovný přistup ke vsem ucastniků trhu prace, což alespoň formalně reflektovalo torii Marxismu-Leninismu. Cilem přispěvku je zjistit, do jake miry byly tyto ideologicke premisy toto formalni nastaveni implementovano v praxi. Analýza se zaklada na výsledcich naseho jedinecneho výzkumu, jenž se opira o rozhovory s podnikovými manažery v 7e. a 80. letech. Ve skutecnosti režim některe skupiny diskriminoval pozitivně a jine negativně a to i za existence formalni mzdove nivelizace.

Economic Transformation in Slovenia: From a Model Example to the Default Edge

Abstract The Slovenian economy appeared on the brink of bankruptcy at the end of 2013. The situation was caused by high level of classified debts in state-owned banks. This can be seen as surprising because Slovenia used to be (for a long time) considered as a (textbook) example of the gradualist transformation approach. The goal of this article is first to describe the transformation process in the country and consequently to determine causes of the economic problems that resulted in the 2013 crisis. The article concludes that the economic problems were rooted already in the specific functioning of the centrally planned system in Yugoslavia. These specifics had a direct influence on the transformation process in the country and stood behind the application of gradualism. Among the most telling features of gradualism were slow privatization, cold attitude towards foreign investment and the foremost lasting casual economic environment caused by behaviour of the state-owned banks. My conclusion is that the country’s economic problems can be ascribed to gradualism and that they are a clear example of the path dependence development.