The Macroeconomic Situation in the Czech Republic

CERGE-EI Working Paper Series No. 46

31 Pages Posted: 26 Feb 2010

See all articles by Ivan Sujan

Ivan Sujan

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

Milota Sujanova

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

Date Written: April 1, 1994

Abstract

The paper analyses of some important features of the past and present macroeconomic situations in the Czech Republic. Between 1948 and 1989 the former Czechoslovakia lost its pre-war position among the advanced industrialized countries. The radical economic reform (prepared in 1990 and initiated on January 1, 1991) was successful from the point of view of macroeconomic stability (relatively low inflation, a stable exchange rate, a current account surplus and a nearly balanced state budget). However, it was accompanied by a sharp decline in real GDP which was deepened by the collapse of the CMEA. The split of the Czecho-Slovak Federation in 1993 also negatively affected the expected economic recovery. Nevertheless, according to international comparison the Czech Republic is now in the best macroeconomic position of all the postcommunist countries. Recent macroeconomic trends and short-terms forecasts are promising. Individual sections of the paper are documented with analytical tables containing the relevant statistical data and the author's own calculations. The specific models and methods used are described in the Appendix.

Suggested Citation

Sujan, Ivan and Sujanova, Milota, The Macroeconomic Situation in the Czech Republic (April 1, 1994). CERGE-EI Working Paper Series No. 46. Available at SSRN: https://ssrn.com/abstract=1558106 or http://dx.doi.org/10.2139/ssrn.1558106

Ivan Sujan (Contact Author)

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic

HOME PAGE: http://www.cerge-ei.cz

Milota Sujanova

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic

HOME PAGE: http://www.cerge-ei.cz

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