responsibilities of supervising institutions are still among open problems of the economic policy of the Czech Republic. Currently four … institutions share the supervision of Czech financial markets. These institutions differ by their legal statuses, rights and … procedures. Some institutions have an internal conflict of their targets. A programme of two step integration was adopted in the …

creation, maintenance and cultivation of appropriate political and economic institutions ("political and economic design … influence of informal institutions, which undoubtedly create "the spawn, out of all grown up". If the state were to be … understood in its minimal role, i. e. as the guarantee and co-creator of basic "well-established" rules and/or institutions, the …