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History of Czech Economic and Political Alignments Viewed as a Transition

Chapter

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 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Vladimír Benáček 2001

Authors and Affiliations

  1. 1.Charles UniversityPragueCzech Republic

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