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Producing dynamic growth is the task ahead

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  • Jeffrey Sachs

Abstract

The first stage of transition in the Czech Republic is over. This country has a market economy and it is working. The second stage of transformation is the rapid catch-up with Western Europe. The main steps may be following: The first involves macro-economic policies, especially exchange rate policy. Exchange rate policy should be managed consistently to protect the competitiveness of export industries. The second item is tax policy. The government spending should be compatible with the level of development and the level of income - it should be in the order of 25 - 30 %. Pension reform. Flexible labor markets. Market access. Infrastructure. Transport, communications.

Suggested Citation

  • Jeffrey Sachs, 1996. "Producing dynamic growth is the task ahead," Prague Economic Papers, Prague University of Economics and Business, vol. 1996(1).
    • Handle: RePEc:prg:jnlpep:v:1996:y:1996:i:1:id:93
    DOI: 10.18267/j.pep.93
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