StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Inflation and Deflation in the Czech Republic since 1998

Only on StudentShare
Pages 5 (1255 words)
The state of Czech Republic had gone through different turns in history. These changes have surely affected the progress of its economy both positively and negatively. Czech was actually part of Austro Hungarian Empire until World War I in 1918. Later it became part of Czechoslovak state…

Extract of sample

Czechoslovak was famous for export industries, especially automotive ones then. But the major policy change stopped the export growth of the state. Even though the following governments tried some measures to keep economy strong, nothing could help. The Communist Regime allowed only state owned enterprises and state lead economic planning. It relied more on artificial pricing of commodities. No political, cultural or economic liberalization was allowed. Year after year the situation became worse only and it led to a total tragedy within a few decades.
By 1980s, Czechoslovakia started facing deep crisis and people started protesting. In the initial days the protests were not so strong and the Government tried to suppress it. But it was not possible. Protests gathered momentum and by 1989 the Communist Government resigned. It was followed by democratic election which was the beginning of a new era as far as the history of Czechoslovakia is concerned. The major policy change in USSR allowing liberalization at to a limited extent and the weakening of power of Communists in neighboring states like East Germany and Poland also influenced the developments which led to the situation of Communists loosing power in Czechoslovakia.
In the elections conducted in 1990, Vclav Havel got elected as President. The new Government formed under his leadership decided anyway to march away from the track of Communism. ...
Download paper
Not exactly what you need?

Related papers

Czech Political Parties
The upper house, or Senate, elects members every two years for six-year terms (81 total); the lower house, or Chamber of Deputies, has 200 members who are elected for four-year terms. The political parties often join together in coalitions to form a majority or other bloc of votes in the government. Five parties have 10 or more representatives in the Chamber of Deputies; one deputy is an…
2 pages (502 words)
Czech Republic Conversion to the Euro
The paper describes the Czech economy and the importance of Euro adoption in it. Since the whole world is going through the period of recession, the economy is being tremendously affected. The economy of Czech Republic, more of a struggling state, is totally dependent upon the development of the Western Europe for the next two years according to the latest poll published by the Czech News Agency.…
4 pages (1004 words)
EU institutional law and policy
10 new countries that acceded to the European Union in 2004 (Hungary, Poland, the Czech Republic, the Slovak Republic, Slovenia, the Baltic states of Estonia, Latvia and Lithuania, and the Mediterranean islands of Malta and Cyprus), all intend to join third stage of the EMU in the next ten years, though their precise timing depends on various economic factors.…
14 pages (3514 words)
Law Enforcement in the Czech Republic
The total area of Czech Republic is 78,844 square km and the population is 10.5 million. It is surrounded by Poland, Austria, Slovakia and Germany and also occupies the historical regions of Bohemia, Moravia and a small area of Silesia. The people of Czech Republic are Slavic people who are from central and Eastern Europe but their culture and tradition connects them to the West.…
10 pages (2510 words)
Theory of Economic Deflation
This process is deflation. The two pair of key elements that are involved in deflation theory is 1) goods and money and 2) demand and supply. The sum of amount of goods and money; and the demand and supply of both goods and money influence the economy of a nation or it can be called as economic decider. The demand and supply of goods results in deflation: if there is decrease in demand of goods or…
2 pages (502 words)
There have been cases around the globe known as hyperinflation. Though there is no official definition for it, it is generally accepted as a 50% annual inflation rate. Ecuador suffered through a 96% inflation rate in 2000 ("Background Note: Ecuador"). This was caused by a weak economy, massive debt from El Nino in 1998, and a floating currency. The president was ousted in Jan. 2000 and caused a…
2 pages (502 words)