Under the system, every citizen was given the opportunity to buy, for a moderate price, a book of vouchers that represents potential shares in any state-owned company. The voucher holders could, then, invest their vouchers, infusing the chosen company with valuable capital. When the voucher privatization process is complete, Czechs will own shares of each of the Czech companies, making them one of the highest per capita share owners in the world. Privatization through restitution of real estate to the former owners was largely completed in 1992. It became an associate member of the EU in 1993, but it may take a decade or more for the economy to reach Western European standards.
Productivity also is substantially lower due to chronic underinvestment.
The division of Czechoslovakia has not had an appreciable effect on the Czech economy. Firm monetary and fiscal policies are likely to be maintained, meeting the objective of a balanced budget.