Abstract
The lecture is dealing with transfer of oil shocks into the trade between the CMEA. High growth of western prices caused a substantial reform of pricing formation in CMEA.
The analysis shows the impact of these changes on the oil prices for Czechoslovakia, a phase shift and distribution of the price shock through the time - with regard to the energy and oil demand of the economy. The shift of the terms of trade caused large changes in the Czechoslovakian foreign trade.
This development is demonstrated on the data of the trade balance in the key segments. The necessity of increasing exports to USSR meant a growing burden for the Czechoslovakian economy and a great challange for makers of the Czechoslovakian economic policy.