Undue emphasis on short-term macroeconomic goals in transition countries impedes structural change, often resulting in a deterioration of achieved macroeconomic outcomes. Repeated attempts at stabilization are then required and structural reforms become more urgent, and more costly. Many of...

Cieľom príspevku je poukázať na úspešný ekonomický vývoj Južnej Kórey, a to na ceste od vojnou zničenej krajiny k statusu novoindustrializovanej ekonomiky. Článok sa tiež venuje jednotlivým etapám industrializácie a poukazuje na štrukturálne zmeny v hospodárstve krajiny....

The paper analyses the factors leading to the fall of long-term interest rates in the Czech Republic – respectively, the long-term interest rate differential in the Czech Republic and the Eurozone – between 1998 and 2003. The selection of factors is determined by the Fisher equation, UIP,...

This paper examines features of the Czech stock market’s development from 1997 to 2003 and attempts to unveil the macroeconomic consequences of stock-price development. The analysis of the stock market’s behavior supports a cautionary stance on the hypothesis of the efficient-market theory,...