Barriers to Entry of New Firms in the Czech Republic
At the beginning of the 20th century, the Czech Lands were the most industrially developed part of the Austro-Hungarian monarchy, competing technologically and commercially with the most advanced countries in Europe. By 1930s, Czechoslovakia — which was formed after the break-up of the Austro-Hungarian monarchy in 1918 — ranked amongst the ten major European industrial countries, enjoying a strong tradition of craftsmen skilled in producing machinery and other manufactures and of businessmen adept in exporting these goods. Incomes were high, and the well-developed economy had succeeded in forging close financial and industrial links with the rest of Europe.
KeywordsEurope Income Explosive Petrol Clarification
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