Private Entrepreneurship and Small Businesses in the Transformation of the Czech Republic
Private Entrepreneurship and Small Businesses in the Transformation of the Czech Republic
This chapter has a detailed look at literature on private entrepreneurship in the Czech Republic from the origins of the nomenklatura to the quick rise of small and medium-sized private Czech businesses and their entrepreneurship from 1990 to 1994. Even though official estimates confirm their booming development, a huge part of the private activities has not been recorded and has escaped statistics. The share of GDP accounted for by the private sector may have already ranged between 35% and 40% by 1993, far more than the official estimate of 26% to 30%. Even though much of this success is attributed to the government's macro-economic and privatization policy, the chapter argues that the essential element is the spontaneous motivation of members of the population to use their own capacity and resources in their livelihoods.
Keywords: motivation, GDP, nomenklatura, private businesses, macro-economic policy, privatization policy, private entrepreneurship, private sector
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