06/11/05 05:47:05 9SE6UVq1
URLﾘﾝｸ(www.bankresearch.org)
Czech Republic to overtake East Germany in seven years
What could explain why East Germany, with all the rule of
law and administrative integrity in place, plus 1 trillion
euro of subsidy, is soon going to be overtaken by
Czech Repbulic (in gdp per captia) which is plagued
by rampant "looting" and "no law and no finance"?
Labor market inflexiblity is the key.