Abstract
The study focuses on changes of Czechoslovak economic policy in the years 1953 - 1962. It discusses turn to 'the new course' after death of J.V.
Stalin and changes after Khrushchev's advent to power which led to first attempt to economic reform in Czechoslovakia. The study highlights the discrepancy between concept of reform and pressure of policy centre for a new wave of industrialization.
Motto 'catch up and surpass' strongly affected conception of third five-year plan so planned investments exceeded capability of Czechoslovak economics. Cumulating economic problems resulted at third five-year plan cancellation and recovery of centrally-prescriptive controlled economy.
The greatest downturn of economics came in 1963 and need for change in control of economy gradually led to conception of second economic reform and the Prague Spring.