The Position of the Czechoslovak Economy in the Global Economy in the Years 1945 - 1989

This article focuses on the situation of the economy of Czechoslovakia in the global economy from the period after World War II up to 1989.Economic development in this period was significantly influenced by the political events that took place in Czechoslovakia in 1948, when it became part of the Eastern Bloc and a system of central planning was introduced into the economy.Despite the many problems that a centrally planned economy creates such as the considerable degree of closure of the economy to foreign competition, the lack of selected goods on the market, the persistence of an inadequate market structure, Czechoslovakia in the late 1980s ranked among the 30 most developed economies in the world and the most developed in the Eastern Bloc.