Changes in the Industrial Structure of the Czech Economy in the Process of Transformation - with Regard to International Aspects
AbstractPrior to the 1989 revolution, the structure of the Czech economy was characterised by the so-called industrialisation structure of GDP. Industry was the largest and most developed sector in the economy followed by services while agriculture remained the smallest sector. During the initial phase of transformation, the share of the services sector dramatically increased while the share of industry and agriculture declined. The Czech economy recorded a rapid transformation from the industrialiation structure into the services sector oriented one. Changes in the structure of GDP in these countries were always associated with the process of long-term economic growth. In contrast with this historical experience of European developed countries, recent changes in the sectoral structure of the Czech and other transition economies have been generated by economic decline. A considerable and long-term acceleration of economic growth is required to strengthen the recently emerged, but still rather weak sectoral structure.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Politická ekonomie.
Volume (Year): 1998 (1998)
Issue (Month): 6 ()
Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
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