IDEAS home Printed from
   My bibliography  Save this article

Příčiny a průběh měnových turbulencí v České republice v roce 1997


  • Oldřich Dědek


The Czech economy experienced a standard shake-up triggered by a gradual build-up of external imbalance that ended up with a speculative attack. As a result of the many institutional bottlenecks, the supply side of the economy was unable to keep pace with the rapid expansion in domestic demand. The mounting external imbalance was also linked with considerable internal imbalances. The contagion came in May 1997 from South-East Asia. Them followed a sharp weakening of the CZK. The CNB opted for a strategy of liquidity squeeze. Escalation of the crisis led to the adaption of managed floating of the CZK finally. The first signals of a calming of the situation emerged at the start of June. It became possible to launch a strategy to bring interest rates down. This process lasted until around the end of August. The price paid for eliminating the external imbalance was economic recession.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Oldřich Dědek, 2000. "Příčiny a průběh měnových turbulencí v České republice v roce 1997," Politická ekonomie, University of Economics, Prague, vol. 2000(5).
  • Handle: RePEc:prg:jnlpol:v:2000:y:2000:i:5:id:170

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    1. Stephan, Paula E., 2010. "The Economics of Science," Handbook of the Economics of Innovation, Elsevier.
    2. Arthur Diamond, 2005. "Measurement, incentives and constraintsin Stigler's economics of science," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(4), pages 635-661.
    3. Hands, Douglas W., 1985. "Karl Popper and Economic Methodology: A New Look," Economics and Philosophy, Cambridge University Press, vol. 1(01), pages 83-99, April.
    4. David M. Blank & George J. Stigler, 1957. "The Demand and Supply of Scientific Personnel," NBER Books, National Bureau of Economic Research, Inc, number blan57-1, January.
    5. Rosenberg, Alexander, 1988. "Economics is Too Important to Be Left to the Rhetoricians," Economics and Philosophy, Cambridge University Press, vol. 4(01), pages 129-149, April.
    6. William A. Brock & Steven N. Durlauf, 1999. "A formal model of theory choice in science," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 14(1), pages 113-130.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:2000:y:2000:i:5:id:170. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frantisek Sokolovsky). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.