Slovak Experience With Capitalism: The Myth of the Tatra Tiger

Abstract

This chapter provides a detailed analysis of Slovakia's economic transformation since the end of the socialist era and its transition toward a market-based economy. The country had a slower start than Poland, Czechia, and Hungary in embracing capitalism, which earned it the nickname of the “Tatra Tiger” only after Dzurinda's administration. The chapter examines the crucial economic reforms, political decisions, and contextual factors that have shaped Slovakia's economic trajectory, particularly emphasizing the interplay between politics and economic policy. Additionally, it highlights the challenges posed by the legacy of previous governments, including oligarchic influence and socioeconomic disparities. Despite some periods of economic growth, Slovakia is currently facing a crisis of political and socioeconomic discontent, primarily due to overdependence on the automotive sector and a lack of investment in innovation and infrastructure. The chapter concludes by stating the need for more visionary leadership and a national dialog on Slovakia's future direction, indicating a concerning inertia in the face of pressing economic challenges.

Citation

Augustín, M. and Daubner, P. (2024), "Slovak Experience With Capitalism: The Myth of the Tatra Tiger", Augustín, M., Jančovič, P. and Sergi, B.S. (Ed.) Modeling Economic Growth in Contemporary Slovakia (Entrepreneurship and Global Economic Growth), Emerald Publishing Limited, Leeds, pp. 25-48. https://doi.org/10.1108/978-1-83549-454-720241003