IDEAS home Printed from
   My bibliography  Save this paper

Integration into the World Economy: Companies in Transition in the Czech Republic, Slovakia, and Hungary


  • L.E. Grayson
  • S.E. Bodily


The report analyses the behavior of firms and managers in the Czech Republic, Slovakia, and Hungary during their integration into the world economy. The conclusions are based on 23 case studies conducted in 1995. The investigators found a rapidly transforming mosaic of managerial behavior which both changed over time and varied from firm to firm in all three countries. They found no one pattern of behavior that could be labeled as prototypical. Success was determined, to a large extent, by the managers' flexibility to adapt to rapid - and always uncertain - changes. The report also attempts to put the observed managerial experience of the three countries into historical and comparative contexts. In the report, the authors first sketch the macroeconomic and political environment for Central and Eastern Europe (CEE) enterprises in mid-1995 and analyze the financial sectors in the target countries. The marketing, operations, and financial challenges to these companies are illustrated in case examples. Next, the authors characterize managerial behavior within various types of enterprises and comment on the relationships between these behaviors and success or failure. Microeconomics, managerial behavior, and case studies that illustrate them are keys to understanding how economics work. Macroeconomics, fiscal and monetary policies, and stabilization are indeed very important but, by a long shot they don't tell the whole story. The transformation and integration literature is full of microstudies; far too few micro projects have been undertaken because they are so labor intensive. The authors hope that there will be many more micro studies. The report presents four categories of case studies: new firms,joint ventures, privatized companies, and state-owned enterprises (SOEs).

Suggested Citation

  • L.E. Grayson & S.E. Bodily, 1996. "Integration into the World Economy: Companies in Transition in the Czech Republic, Slovakia, and Hungary," Working Papers rr96019, International Institute for Applied Systems Analysis.
  • Handle: RePEc:wop:iasawp:rr96019

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Margolis, Robert M. & Kammen, Daniel M., 1999. "Evidence of under-investment in energy R&D in the United States and the impact of Federal policy," Energy Policy, Elsevier, pages 575-584.
    2. Grubler, Arnulf & Nakicenovic, Nebojsa & Victor, David G., 1999. "Dynamics of energy technologies and global change," Energy Policy, Elsevier, pages 247-280.
    3. Grubler, Arnulf & Messner, Sabine, 1998. "Technological change and the timing of mitigation measures," Energy Economics, Elsevier, pages 495-512.
    4. Schelling, Thomas C, 1995. "Intergenerational discounting," Energy Policy, Elsevier, pages 395-401.
    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:wop:iasawp:rr96019. 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: (Thomas Krichel). 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 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.