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History of Czech Economic and Political Alignments Viewed as a Transition

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Small Countries in a Global Economy

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.

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Author information

Authors and Affiliations

  1. Charles University, Prague, Czech Republic

    Vladimír Benáček

Authors
  1. Vladimír Benáček
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Editor information

Editors and Affiliations

  1. Fordham University, New York, USA

    Dominick Salvatore (Professor of Economics and Department Chair) (Professor of Economics and Department Chair)

  2. University of Ljubljana, Slovenia

    Marjan Svetličič (Professor of International Economics) (Professor of International Economics)

  3. Faculty of Economics, University of Ljubljana, Slovenia

    Jože P. Damijan (Assistant Professor) (Assistant Professor)

Copyright information

© 2001 Vladimír Benáček

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Cite this chapter

Benáček, V. (2001). History of Czech Economic and Political Alignments Viewed as a Transition. In: Salvatore, D., Svetličič, M., Damijan, J.P. (eds) Small Countries in a Global Economy. Palgrave Macmillan, London. https://doi.org/10.1057/9780230513198_5

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