Q15 - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and EnvironmentReturn

Liberal ownership rights are the essential basis of proper functioning of market economy, therefore the theory of ownership rights can also be considered the basis of theories governing all the areas of market economy functioning. The currentness of the presented issues in the Czech Republic has been rapidly increasing lately, with regard to the expanding erosion of ownership rights set democratically after 1989. The aim of this paper is to present the results of long-term research in renowned economic magazines, to draw attention to the extraordinarily current nature of the discussed issues determined by increasing instability of ownership rights in the Czech Republic in recent years and to promote an expert discussion of this topic in various economic and legal circles.

The transformation of centrally planned economy to a market economy has confi rmed that the basic premise for the economic policy, characterized by liberal market economy, is democratically established property rights. This text analyzes the National Economic effects of one of the most complex transformation processes, which is the process of privatization. This publication examines all three legal regimes through which were the entire privatization process implemented. These are "The Small Privatization" according to the Act no. 427/1990 Coll., "The Large-scale Privatization" according to the Act no. 92/1991 Coll. and "The privatization of agricultural and forestry property" according to the Act no. 229/1991 Coll. and the Act no. 95/1999 Coll., with respect to the: affected economic theories, theory of property rights in particular, transaction costs theory, theory of interested groups, rent-seeking theory, theory of government failure, etc.; macroeconomic analysis of the process itself; macroeconomic analysis of the use of the proceeds from the privatization process; evaluation of the National Economic effects, whether positive or negative, of the privatization process in the Czech Republic. The aim of this text is to provide professional and comprehensive overview of the National Economic effects of the privatization process as a whole, which has not been published until now by any author in view of the fact that the perception of the privatization process of the professionals and the general public has been narrowed to a process implemented by the National Property Fund and the Ministry of Finance (by selling shares through vouchers). Finally, the aim of this publication is to analyze the application of economic theories within the privatization process in the Czech Republic which describes the pros and cons of this unique economic and national economy "experiment".