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Česká ekonomika v r. 1999: nesnadná cesta k oživení
[How to revive the czech economy in 1999]


  • Kamil Janáček
  • Martin Čihák
  • Marie Frýdmanová
  • Tomáš Holub
  • Eva Zamrazilová


The article contains Komerční banka's analysis of the Czech economy. The authors conclude that the economy goes through a classical recession, caused by the joint working of the following main factors: waves in firms' and households' investment, volatility of foreign capital, stabilization policy mismanagement, and a credit cycle. An important part of the recession was a result of the restrictive monetary and fiscal policy of 1997, which had an impact on the economy with a one-year lag. The authors conclude that a slight recovery of demand will not come earlier than in the second half of 1999, and that it will be driven mainly by the revival of real household incomes.

Suggested Citation

  • Kamil Janáček & Martin Čihák & Marie Frýdmanová & Tomáš Holub & Eva Zamrazilová, 1999. "Česká ekonomika v r. 1999: nesnadná cesta k oživení
    [How to revive the czech economy in 1999]
    ," Politická ekonomie, University of Economics, Prague, vol. 1999(2).
  • Handle: RePEc:prg:jnlpol:v:1999:y:1999:i:2:id:19

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