| Summary: | The article deals with the problem of the implementation of economic reforms in the Czech and Slovak Federal Republic, which took place in the aftermath of the Velvet Revolution, from 1990 to 1992. The author examines the positive and negative effects of economic transformation in the Czech Republic and the Slovak Republic. Particular attention is paid to influence of siting of the defense industry in the growth of unemployment in Slovakia. The article also touches upon the issue of privatization process, defined its main elements and stages. It is spoken in detail about illegal machinations, which are primarily engaged in by privatization investment funds. According to the article, Czechoslovakian politicians and economists agreed on a scenario of rapid market reforms, and Czech part of the federation was been better prepare for this step. Much attention is given to the problem of restitution of property that was nationalized in the period of communism. The researcher concludes that the economic transformation have contributed to the collapse of the federal state of Czechs and Slovaks.
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