České ekonomické století

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Title in English Czech economic century


Type Conference abstract
MU Faculty or unit

Faculty of Economics and Administration

Description In the years 1918–2018, the Czech lands experienced five different economic systems that influenced the performance of the Czech economy. The aim of this paper is, based on a comparison of historical estimates, to define the initial economic level of the Czech economy within the Austro-Hungarian economy, to estimate the share of the Czech lands in the Czechoslovak economy and finally to estimate the maturity rate. lagging behind Austria. On the eve of the First World War, the economic level of the Czech lands was about 10–20% lower compared to the Austrian countries, which reached 90% of the German level. In the inter-war period, the Austrian economic level was 87% of the Czech level, but by 1931 Austria was catching up with the Czech lands again. The Czech lands themselves were 10% higher than the whole of Czechoslovakia and 50-60% higher than Slovakia with Carpathian Ruthenia. After World War II, Austria lagged behind Czechoslovakia by 28 years. However, the centrally administered Czechoslovak and Czech economies gradually lost their potential and Austria overtook it since the 1960s. In 2017, the Czech economic level was roughly 70% of the Austrian economic level, which is comparable to that of the former GDR countries, whose GDP per head increased from 30-43% in 1990 to the current 74% against the West German economic level.
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