The paper is based on a broader study of three authors: Mlcoch, Machonin and Sojka. The underestimation of institutions both formal and informal ones, including business ethics was the key weakness of ex-Prime Minister Václav Klaus Czech way of transition during 1989-99. Then, the rhetoric of...

This paper presents cointegration analyses of the import and export functions of the Czech Republic in 1993-1998 by identifying the main variable factors and estimating the long-run equilibrium relationship of Czech foreign trade functions. A long-run equilibrium relationship was found in the...