Is the Czech economy a success story? The case of CzechInvest: the strategic promotion agency in Czech industrial restructuring

The study of CzechInvest, the leading and most prestigious investment and business development agency in the Czech Republic, seeks to describe and analyze the principles underlying the promotion of investment, restructuring and innovation in a country that has undergone a fundamental transformation of its economic, social and political operations in the last 18 years. The country is and interesting example for countries facing the challenges of growing openness to globalized markets and the need to restructure their international exchange patterns and institutional arrangements. The report shows how restructuring policies were channeled through the investment promotion agency with a flexible adjusting and "trial & error" approach to design policy instruments and to changes in the real world, while facing the dangers of corruption, bureaucracy and political capture.