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2010 OECD Economic Surveys: Czech Republic 2010

image of OECD Economic Surveys: Czech Republic 2010

OECD's periodic survey of the Czech economy. This 2010 edition includes chapters covering the challenge of fiscal consolidation after the crisis, pro-growth tax and benefit reform, and improving the business environment. The survey finds that the Czech economy was severely affected by the global downturn, owing to its high degree of openness and integration in global production chains. The fiscal position was also hit hard, prompting a rapid shift in policy from stimulus to consolidation.  The medium-term challenges facing the country are principally concerned with creating conditions of rapid convergence with advanced OECD economies by restoring the sustainability of public finances and improving the business environment.

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Improving the business environment

This chapter assesses recent regulatory reforms and considers the scope for future initiatives in this area. It begins with a look at the substance of product- and labourmarket regulation before turning to the questions of regulatory policy per se, particularly simplification and impact analysis. Both substance and process are important, since recent OECD and academic research suggests that less burdensome product- and labour-market regulation and better regulatory management systems are both associated with better performance in terms of output, employment and productivity. A final section looks at the contribution that e-government is making to these efforts and at the areas where the authorities could do more to use egovernment methods to enhance the business environment.

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