Vliv Aloise Rašína a Karla Engliše na měnovou politiku Československa do roku 1929

This work is focused on the currency reform in the year of 1919. The theoretical part presents opinions and concepts of Alois Rasin and Karel Englis in the field of currency politics. Starting from the introduction of the default economic and social situation before the establishment of the self-governing Czechoslovak state, the text aims on an analysis of grounds, a course of development and impacts of the currency reform. Next part investigates the influence of currency measurements on the realtime economics of the country. The essential point of the research is following: Has the deflation policy of A. Rasin fullfilled one of its main targets, i.e. to strengthen the exchange rate of the Czechoslovak Crown? Detailed empirical testing has been performed on this initial hypothesis, resulting in positive verification of this statement. Thanks to the artificial stimulation caused by deflation policy leading to increased currency value, external competitiveness of the Czechoslovak Crown really grew up, though at the significant costs of domestic economy suppression. As the conclusion, the description of particular impacts of A. Rasín's and K. Englis's currency policy applied on real economic processes is provided.