Macroeconomic Consequences of the Great Economic Crisis in Czechoslovakia

The work analyses an economic development of Czechoslovakia mainly during the thirties. The work deals with origins and consequences of the Great Depression, which is in most cases associated with the economic collapse in the United States after the stock market crash in October 1929. In most of other countries the business cycle was characterized by decline of product, deflation, record-breaking unemployment and had a destructive impact on economic, social and political arrangements. In Czechoslovakia the crisis hits all economic branches and under the pressure of the catastrophic results the economic policy changed. Economic recovery was slow and even at the end of the thirties most of the economic indicators were below their 1929 levels.