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Review of the Czech Economic Transition: the starting point of equality of property rights reform model


First, the Other Eastern European countries before the socialist revolution, mostly in economically poor and backward agricultural country, political tyranny, Wang Zheng strong sense, even as East Germany, the pre-war economy has developed, it is Nazi political tyranny. Only the Czech Republic, before the war, both have highly developed highly sophisticated industry of parliamentary democracy, constitutional republic. Historically, the Czech Republic is a strong Olympic Hungary EU industrial concentration within the region, the collapse of Austria-Hungary after World War I, Czech Republic before the Empire, 24% of the population, 21% of the territory was derived 80% of Austria-Hungary's industrial production capacity, making it much higher than the level of economic development and political center of the former empire, the founding of the Austrian region. Czech Republic before World War II is one of the world's top ten industrial countries, per capita industrial output and even the fourth highest in the world, many departments of industrial production capacity exceeds three times the capacity of the domestic market is a major exporter of industrial [1]. But after 1948, the results of the planned economy, to the 60's would make it to land in the world ranking of industrial countries to 12, per capita output fell to fifth, living standards have been significantly lower than it would have far less of Austria. To the late 80s, it is more fell in Brazil, Spain and South Korea, the withdrawal of the major industrial powers. Politically, the pre-war system of democracy becomes the result of Stalin, not only caused a lot of the early 50's injustice, and in the great purge of 1968, after the majority of Communists, feel depressed, feel not as good as before the war, the Communist Party democracy people better. All this together with the Prague Spring of 1968, making the Czech Republic could not have the radical nature of reform.

the other hand, the Czech Republic arguably should be the most difficult countries in transition, mainly because of several factors: First, the Czech Republic before the drastic changes in the economic system of in the second to none, in the After the collectivization of agriculture has not been engaged in two countries) to its original rigidity and monopoly system and the

Second, the Czech Republic in 1989 gross domestic product, the public economy as much as 96%, only a mere 4% of the private economy. [2] and the Czech Republic are mostly large and medium state-owned joint venture enterprise, the high degree of trust in the entire Eastern Europe, second only to the former East Germany, the Czech Republic even before the traditional big business before the Communist era, there was, such as E Site metallurgy of the Commonwealth of Rafah, Bill Parsons Keda Automobile Factory, Prague Chica de factory, the Spur Lake Ust-Commonwealth of chemical and metallurgical plants and Brno Adast are world-famous giant enterprises. Engage in such economic reform of property rights, difficulties can be imagined. No basis for the Czech market reforms, its citizens can not buy companies, and the Czech Republic before World War II as one of the top ten industrial countries, has a strong history of national pride, can not, as Hungary did, a lot of foreign capital to purchase and holding their own enterprises. At the same time the beginning of the Czech transition to leave the old system more balanced external payments heritage, not as carrying a heavy foreign debt of Hungary and has lost the external payments capacity, need to sell state assets in exchange for foreign currency to repay debts. Therefore, both from potential or from the need in terms of the sale type of privatization in the Czech Republic will not work.

Finally, the Czech Republic in the history of Eastern European countries is the only truly left-wing traditions, most of the time before the war, the United Social Democratic Party is the ruling party and even the main ruling party, the first A before and after the two presidents of the Republic of Masaryk and Benes, and sand and so are the Prime Minister suddenly social democrat, McNair is in Eastern Europe were only in the Soviet political party have a great impact. In the mid-20s it is the second largest party in the 1925 election, more votes than the SPD the largest party in the Peasant Party and quite a few (934,000 votes to 970,000 votes), 1928, McNair has 15 million members, a total of more than Method A total of more than twice the total of more than 29 times the British (and the Czech population, and only Britain, France, 1 / 3). Czech Social Democratic Party in February 1948 more party members before the incident got rid of nearly 70 million, for the famous number of the German Social Democratic Party 70%, while Germany, the Czech population of only 1 / 4. Meanwhile, the Czech Republic is the only Eastern European countries before World War II with a stable parliamentary democracy developed countries. Democratic participation and supervision in the left-wing philosophy and concept of equality under the double impact of any oligarchic style,

the other hand, as is typical of the socialism , and saxophone However, the composition of Poland's Solidarity government based on its basic features is a community unionism rather than liberal political party and trade unionism is not so much on the mind tends to privatization, rather, the workers more inclined to self-government, the private method is more close to the company employees on a collective sharing of equity Yisuo Pu (ESOP), rather than distribution of the whole society shares the But the narrow Yi Suopu approach requires the not resolved. Bielecki government securities from the privatization program was rejected by the Parliament, the mass privatization will tend to stagnate. The drastic changes under the old system before the speed up the process so much as it is slowed down. The most important reason is that politicians and the public of emerging spontaneous privatization or corporate managers that have the right to appoint or remove the political (and moral) can not accept, must be stopped down. [3]



Poland, the Czech government is different from the based on Agreed that the Czech government and up and down, the Czech Republic's industry is set up co-operation of all citizens, and now the need for universal social compensation. Therefore, equality of opportunity, starting a fair way of mass privatization of the securities will be more smooth. Together with the Czech Republic were not as dramatic changes in Poland before the economic imbalance so serious shock therapy assumed a The shock therapy is different from most Eastern European countries. That it is not only to the narrow treatment of austerity, inflation control, but also to This makes the Czech Republic to be free from most of the former Soviet Union and Eastern European countries that These premises are used for the Czech social cost as low as possible to provide a transition to a market economy conditions, therefore, despite the drastic changes in the former than Poland, the Czech Republic is more

In short, the Czech Republic suffered under the old system, making the left and right are longing for change, and advocated radical reforms. The democratic tradition of equality and the impact of the traditional left, can not fail to highlight the democratic reform of property rights and fairness, as with Hungary, Poland compared to the special circumstances, the major reform of state-owned assets can not be the only way it can not be sold to foreigners So that all citizens equally privatization of state assets in securities will become logical choice. Czech Prime Minister at the time, liberal economist Klaus V. origin to the principle of this method of privatization comes down to: produce the final of the owner. Without the former, privatization is not fair, not the latter, on the privatization of inefficient. At the time, not only can be called Because in order to explain: why in the Czech Republic has a history of Eastern Europe, the most strong leftist tradition
next country, drastic changes after the first session of the Eastern European countries after 1993 appears the so-called Eastern Europe, the Czech Republic has become the only successor of a former Communist Party failed to democracy under the recognition of the transition in Eastern Europe's largest. Even today in the Czech model revealed many shortcomings of today, that it still makes sense.



Second, the operation of the securities and the direct result of the privatization



privatization Of course, other forms of privatization, privatization and restitution of the paid-style privatization (

1992 年 5 months, then the privatization of the Czechoslovak Federation, started the first wave of the securities. As long as every citizen is willing, you can pay 1035 crowns (kroner to the dollar at that time was 28:1) and obtained a registration fee of 1000 contains 3 points for every 100 shares available, each will receive 30 shares, should only buy 10 shares in the company. These At the same time the Government through the valuation of stock split and medium-sized state-owned enterprises after 1492 (some say 1491, of which 943 families of the Czech part of the Federation), assets of nearly hundreds of billions of crowns, one-time investment for the citizens to invest in securities selected To June 1993,[link widoczny dla zalogowanych], this wave of a successful conclusion. 93% of the assets to be privatized successfully November 1993, the Czech Republic after the dissolution of the Federation began the second wave of privatization, investment in securities is entitled to the 10.3 million citizens, to 12 months 600 people have paid a registration fee of SEK 1050 per person and get the second phase of investment securities, and from April 1994 began to Year in October, the successful completion of this wave of privatization. Was paid, together with privatization and is expected to 94%. To June 1996, the Czech Republic officially announced the end of privatization of industrial enterprises have been privatized 92% complete, now, the Czech Republic become the second former East Germany after the complete transformation of the former Eastern European countries privatization. [4