By World Bank
"At the top of 1995, the Czech Republic used to be considered as the clearest luck tale within the quarter. It had one of many lowest premiums of inflation and the bottom premiums of unemployment. The excessive GDP progress cost seemed sustainable, because it was once observed through a reasonable present account deficit, balanced financial account and underpinned through very important structural reform." The Czech Republic was once perceived till 1996 because the so much winning transition economic climate in imperative and japanese Europe (CEE). The Czech Republic appears to be like the clearest luck tale within the quarter. in spite of the fact that, the Czech miracle got here to a halt in could 1997. Its destiny monetary improvement and profitable integration into the ecu Union (EU) relies seriously on its potential to get better a sustainable output development direction. to aid the rustic in attaining its basic aim to hitch the ecu Union (EU) within the shortest time period, this file analyzes monetary advancements within the Czech Republic considering that 1997. It specializes in assessing the prestige of the Czech Republic's financial system from the viewpoint of its pursuit for ecu club. The record consists of 2 volumes. the 1st quantity is the precis record that condenses major findings and conclusions. the second one quantity is the most file. It offers the evaluate and technical learn of chosen key sectors of the Czech economic system. the european accession procedure dominates the field analyses, that are defined in every one bankruptcy.
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Additional info for Czech Republic: Toward Eu Accession : Main Report (World Bank Country Study)
Third, although the voucher scheme had allowed a rapid privatization of more than 1,700 large and medium enterprises, there were doubts as to whether the new owners were exercising active corporate governance and driving restructuring. These doubts were particularly strong in the case of enterprises controlled by the new investment funds, created during the voucher scheme to prevent excessive fragmentation of ownership and to exercise governance on behalf of millions of voucher holders. 2. Financial Account of the Balance of Payments The Czech Republic experienced increasing macroeconomic imbalances in the middle of the 1990s.
Telephone 978-750-8400, fax 978-750-4470. Please contact Copyright Clearance Center prior to photocopying items. For permission to reprint individual articles or chapters, please fax your request with complete information to the Republication Department, Copyright Clearance Center, fax 978-750-4470. All other queries on rights and licenses should be addressed to the World Bank at the address above, or fax no. 202-522-2422. ISBN: 0-8213-4590-7 ISSN: 0253-2123 Cover photo: Prazsky orloj, the astronomical clock in Prague's old town square, Carlos Silva-Jauregui, World Bank.
Chapter IV focuses on inter-government fiscal relationships. Chapter V studies labor market trends, policies and performance. Chapter VI provides an assessment of the foreign trade sector, focusing on trade policy, foreign direct investment, export penetration in the EU and contestability of domestic markets. Chapter VII covers the challenges of the financial sector, evaluating mostly banking, but also capital market issues. Chapter VIII reviews the challenges in the enterprise sector: it concentrates on the changing structure of industry, the unfinished privatization agenda, efforts to attract more foreign direct investment (FDI) and challenges to meet EU quality and environmental standards.