On January 1, 1991, the Czech and Slovak Federal Republic launched a comprehensive reform program designed to establish a market economy. This paper charts the progress of the reform program in the context of Czechoslovakia's prewar history as a major industrial power, its subsequent slow economic decline under Communism, and its recent integration into the world economy following the collapse of the Council for Mutual Economic Assistance.
On January 1, 1991, the Czech and Slovak Federal Republic launched a comprehensive reform program designed to establish a market economy. This paper charts the progress of the reform program in the context of Czechoslovakia's prewar history as a major industrial power, its subsequent slow economic decline under Communism, and its recent integration into the world economy following the collapse of the Council for Mutual Economic Assistance.