V. Baka Economic Transformation in Democratic Czechoslovakia (1990–1992)

Kyiv National Taras Shevchenko University

The article deals with the problem of the implementation of economic reforms
in the Czech and Slovak Federal Republic, which took place in the aftermath of
the Velvet Revolution, from 1990 to 1992. The author examines the positive and
negative effects of economic transformation in the Czech Republic and the Slovak
Republic. Particular attention is paid to influence of siting of the defense industry
in the growth of unemployment in Slovakia. The article also touches upon
the issue of privatization process, defined its main elements and stages. It is
spoken in detail about illegal machinations, which are primarily engaged in by
privatization investment funds. According to the article, Czechoslovakian politicians
and economists agreed on a scenario of rapid market reforms, and Czech
part of the federation was been better prepare for this step. Much attention is given
to the problem of restitution of property that was nationalized in the period of
communism. The researcher concludes that the economic transformation have contributed to the collapse of the federal state of Czechs and Slovaks.

Keywords: economic reform, Czechoslovakia, ČSFR, privatization, restitution,
post-socialist transformation.

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