Interpreting the course of privatisation in the Czech Republic : a path dependency approach

This article focuses on the path-dependency approach and explores whether it could be used to account for the distinctive course of Czech privatisation. The approach offers a constructive understanding of the processes. However, shortcomings in existing applications of the approach are highlighted. The conclusion is reached that interactions of resources, constraints and strategic actors resulted in a distinct course of privatisation. However, the relative weight and number of constraints is open to debate. In the case of Czech privatisation, limited constraints on policy makers combined with complex institutional legacies in the economic realm are key factors that shaped the process.