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2008 OECD Economic Surveys: Czech Republic 2008

image of OECD Economic Surveys: Czech Republic 2008

This edition of OECD's periodic survey of the Czech economy finds strong growth and manageable inflation. It addresses a number of key economic challenges including ensuring fiscal sustainability, improving the labour supply, and  harnessing globalisation.

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Globalisation and the Czech economy: how should policy respond?

Favourable location and low labour costs have resulted in large inflows of greenfield investment and export-oriented manufacturing is playing a key role in the Czech Republic’s robust growth. This chapter looks at this process in depth and examines other influences of globalisation on the economy, such as changes in retail markets and the development of tradable services. The chapter also considers the policy implications. In general, the policies required to harness globalisation are the same as those needed to help overall economic growth. However, some specific areas require particular attention: investment incentives, support for small and medium enterprises, transport and urban infrastructure, and immigration policy.

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