Prague Economic Papers, 1998 (vol. 7), issue 2

Original contributions, Original article, Research article

Czech economy in 1998: risks and challenges

Kamil Janáček, Martin Čihák, Marie Frýdmanová, Tomáš Holub, Eva Zamrazilová

Prague Economic Papers 1998, 7(2) | DOI: 10.18267/j.pep.148

Characteristic for 1997 was a significant slowdown of Gross Domestic Product (GDP) growth: within the first three quarters, GDP grew by 1.1 %, and our estimate for the whole year is 1.4 %. At the same time 1997 was a turning year with respect to some components of Gross Domestic Product. The growth rate of household consumption decreased substantially (by almost one half). After three years of very dynamic, double-digit growth of gross fixed capital formation, in 1997 investment in fixed capital was falling (a decrease of almost 5%). Government consumption practically stagnated. Growing exports were among the main components of GDP growth, especially...

Financial context of ceec process of privatization and restructuring (czech republic, poland, hungary)

Petr Chvojka

Prague Economic Papers 1998, 7(2) | DOI: 10.18267/j.pep.149

As EU Eastern enlargement draws nearer, CEE countries - especially those with the best chance to become EU members in the first group - have to get prepared for the EU environment, where they will be exposed to new competitive pressures. They have to increase their performance and overcome their low level of competitiveness, existing in spite of their recent relatively successful transition from command to market economy. Even though they are not a homogeneous group of states, at minimum those of them, the application of which for joining EU are dealt with, show despite the existing differences certain common features of their hitherto transformation...

Development of foreign trade and balance of payments in the czech republic, hungary and poland

Vladimír Tomšík

Prague Economic Papers 1998, 7(2) | DOI: 10.18267/j.pep.150

The objective of this paper is to analyse one of the greatest problems in the process of transformation of these three economies in the years 1990-1996 - foreign trade development. Following political changes in the countries of Eastern and Central Europe, economic changes had to be implemented that also implied changes in foreign trade. These crucial changes include abolition of foreign trade monopoly and its liberalisation, introduction of stepwise convertibility of national currencies (for transactions of balance of payments on the current account at first), changes in exchange rate policy, price liberalisation and territorial reorientation of foreign...

Model for support of decision making in environmental policy - negotiation between authority and polluters

Petr Šauer, Petr Fiala, Antonín Dvořák

Prague Economic Papers 1998, 7(2) | DOI: 10.18267/j.pep.151

Several approaches to solving pollution reduction problems have been published in the 40 years history of environmental economics. Some of these serve as a theoretical basis for the creation of systems of practical environmental policies. In the 1990's, a new trend in environmental policies seems to be developing. It is the voluntary participation of business (as one of most important polluters) in pollution problem solving. So-called environmental management system principles and standards are being developed and certified in many countries. A reasonable number of corporations have already introduced this system. Voluntary agreements between industry...