IDEAS home Printed from https://ideas.repec.org/a/prg/jnlpol/v2011y2011i3id789p393-406.html
   My bibliography  Save this article

Vývoj, struktura a osud československého státního dluhu v letech 1945-1953
[Development, Structure and Resolution of Czechoslovak State Debt from 1945 to 1953]

Author

Listed:
  • Petr Chalupecký
  • Ladislav Tajovský

Abstract

This article focuses on the development and resolution of Czechoslovak state debt from 1945 to 1953. It describes two distinct periods. Between 1945 and 1948, the budget followed a prewar structure where debt constituted a separate part. These times were characterized by an increase of state debt as a result of a postwar economic reconstruction. From 1949 to 1953 the structure of the state budget was adapting to its new function in the economy and the amount of the debt appeared to stabilize. The most important subject of controversy is the solution chosen in 1953. The monetary reform imposed in that year brought an overall nullification of internal state liabilities. There were two reasons for this decision: to substantively break away from the past and to substantially reduce the value of financial assets held by the wealthier segment of society.

Suggested Citation

  • Petr Chalupecký & Ladislav Tajovský, 2011. "Vývoj, struktura a osud československého státního dluhu v letech 1945-1953
    [Development, Structure and Resolution of Czechoslovak State Debt from 1945 to 1953]
    ," Politická ekonomie, University of Economics, Prague, vol. 2011(3), pages 393-406.
  • Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:3:id:789:p:393-406
    as

    Download full text from publisher

    File URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=789.pdf
    Download Restriction: free of charge

    File URL: http://www.vse.cz/polek/789
    Download Restriction: free of charge

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    public finance; state debt; monetary reform; Czechoslovakia;

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

    Statistics

    Access and download statistics

    Corrections

    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:2011:y:2011:i:3:id:789:p:393-406. 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) or (Rebekah McClure). General contact details of provider: http://edirc.repec.org/data/uevsecz.html .

    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.