Czech Republic Economy Term Paper

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International Business

Czech Republic Economy

This is a paper that examines the economy of the Czech Republic. There are five references used for this paper.

The Czech Republic has recently restored democracy after being a communist country. It is important to look at how this democracy has affected the economy of the country.

Restored Democracy

The Velvet Revolution in 1989 and the "active encouragement of foreign investment by the iconic President Havel aided the relatively smooth transition to democracy in the Czech Republic (Barrie)." The country was able to establish a thriving tourist industry faster than any of the other central European countries, and had an estimated GDP of $132.4 billion in 2000 (Barrie).

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Companies that were established soon after the country regained its independence faced financial hardships at first due to the transitional economy. However, those with a "combination of entrepreneurial teamwork, historic Czech capabilities and ambition (unknown, Water Power)" proved successful and have continued to flourish. During the Communist regime, the prices of property and their economic significance were effectively concealed.

However, after 1989 there was a "change in the determination of property prices, such as free price setting and the….....

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"Czech Republic Economy" (2003, November 19) Retrieved May 20, 2024, from
https://www.aceyourpaper.com/essays/czech-republic-economy-158191

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"Czech Republic Economy" 19 November 2003. Web.20 May. 2024. <
https://www.aceyourpaper.com/essays/czech-republic-economy-158191>

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"Czech Republic Economy", 19 November 2003, Accessed.20 May. 2024,
https://www.aceyourpaper.com/essays/czech-republic-economy-158191
   

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