Rational agents react to incentives in the market economy as well as in the centrally planned economy. Economic laws are persistent regardless of the economic system. The legislative system changes the outcome of the game between economic agents and managers. The aim of this paper is to show how...

Economic growth in centrally planned economies was declining with the duration of these economic systems. There were multiple reasons for this development. Deeper insight can be provided by dividing economic growth into extensive and intensive parts. The goal of this article is to estimate the...

Cover; Half Title; Series Page; Title; Copyright; Contents; Figures and diagrams; Tables; Boxes; Acknowledgements; Introduction; 1 Formal and informal institutions of the socialist era; 1.1 Political system and development; 1.1.1 The Communist Party of Czechoslovakia; 1.2 Legal and enforcing system;...