Abstract
Since the start of political and economic transition, the Czech Republic — and former Czechoslovakia — enjoyed a relatively smooth progress, with, in the long run, a remarkable degree of internal and external monetary stability. Yet one must admit that during the first four transformation years (1990–1993), the country twice had to face turbulence which brought it near the brink of a financial crisis. The first turbulent period came in 1990 amid preparations of the full transformation program — which was to include partial convertibility and liberalized external trade. The second turbulence was a by-product of the split-up of former Czechoslovakia into two independent states. In both cases, the break-up of a regional trading block also played some role, yet the decisive cause of turbulence was deeper and much more complex.
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© 1998 Springer Science+Business Media New York
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Tošovský, J. (1998). Managing Financial Turbulence: Czech Experience. In: Rehman, S.S. (eds) Financial Crisis Management in Regional Blocs. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-4864-1_12
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DOI: https://doi.org/10.1007/978-94-011-4864-1_12
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