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Krpec & Hodulák on the Czech economic model

Wednesday, May 16, 2018

Oldřich Krpec and Vladan Hodulák published an article titled "The Czech economy as an integrated periphery: The case of dependency on Germany". The article was published in the Journal of Post Keynesian Economics and introduces an innovative way of analysing the Czech economic model with a regard to its weaknesses.

Traditional analysis of economic integration has focused on the positive aspects of this process and pointed out favourable indicators of the Czech economy. The aim of the presented article, however, is a more critical reflection on several important features of the Czech economic model. It points out on many problematic features of the Czech economy—in particular, its dependence on foreign capital combined with a weak ability to retain it and the low added value created within the country.