National Repository of Grey Literature 65 records found  1 - 10nextend  jump to record: Search took 0.01 seconds. 
Impact of Regional Differences on P2P Lending, Evidence from China
Liang, Na ; Pečená, Magda (advisor) ; Semerák, Vilém (referee)
Taking the representative P2P lending platform Renrendai as an example, this paper focuses on the impact of borrower's region on the behavior of lenders and borrowers in the market. According to the Chinese six geographical regions the borrowers are from, this paper empirically analyzes the difference of success rate of borrowing and default rate in the six regions using the binary logistic regression model and further studies the reasons behind the regional difference. The result shows that the impact of regional difference is significant and the borrower from northern China are more likely to fund successfully, but the impact of regional difference on the default rate is insignificant, and the economic, financial and education development level in regions have a significant impact on the success rate of borrowing. This paper studies the regulatory differences of P2P platforms in various regions of China, the result shows that eastern China, central and southern China, and Beijing (in northern China) have paid more attention and importance to the regulation of P2P platforms. Keywords : China; P2P lending; the success rate of borrowing; regional difference; regulation policy
Estimates of the role of non-tariff measures in trade between CZE/EU and Japan
Srna, Jan ; Semerák, Vilém (advisor) ; Palanský, Miroslav (referee)
Japan and the European Union negotiated and ratified an agreement about free-trade area that came into effect in January 2019. There haven't been enough data for Japan and the Czech Republic to show the actual impact yet. Gravity model is a useful tool for international trade that can be used to estimate the effect. Various types of methods are used for estimation. The main ones used here in this paper are Random effects and Poisson Pseudo Maximum Likelihood (PPML) estimator. According to PPML model, the impact of the treaty is expected to be 57.3% increase of imports. The model shows positive trade potential for Japan and the Czech Republic. Especially for Japan there is a large gap between model prediction and actual values which means a small trade creation is expected. However, the most of the increasement of bilateral trade should be originated from trade diversion.
Comprehensive Trade Agreement between Asymmetric Partners
Classen, Lennart Peter ; Paulus, Michal (advisor) ; Semerák, Vilém (referee)
Free Trade Agreements and particularly Asymmetric ones have been discussed controversially for several decades now. The Latin American region has increased their efforts to integrate their economies in the international arena. The Andean Community being a customs union in Latin America signed a Free Trade Agreement with the European Union in 2013. Being an asymmetric trade deal, this thesis examined whether it has resulted in trade creation and trade diversion effects already. Looking at the results, I can clearly reject the notion of negative effects as a consequence of the trade agreement. Considering the entire, but also the agricultural and manufactured economic sectors, I found statistically significant trade creation effects. Concerning trade diversion effects, the results were not statistically significant and additional research in the future seems required. Keywords Gravity Model, Asymmetric Free Trade Agreement, Trade creation, Trade diversion, Andean Community, EU, Panel Econometrics Title Comprehensive Trade Agreement between Asymmetric Partners
Exchange Rate Volatility and Trade: Trade in Intermediates versus Trade in Final Products
Ježek, Jan ; Semerák, Vilém (advisor) ; Cazachevici, Alina (referee)
This work represents an attempt to observe exchange rate volatility impact on international trade flows decomposed into intermediates and final products. Existing production chains are costly and sometimes risky to relocate. This thesis aims to test that belief and further, tests assumption that demand for final products is more elastic with respect to foreign exchange rate volatility than that with intermediates. It uses data from 2000 to 2014 and employs gravity model of trade on the sample of 43 countries. Country pair Fixed effects and Bonus Vetus OLS are then used as method of estimation. This work emphasizes proper theory-consistent estimation. It stays in line with contemporary empirical literature only a small negative overall effect is estimated. I find that when foreign exchange rate volatility grows by 10% trade is reduced by less than 0,5%. Regarding expected difference in effect of elasticities I however remain inconclusive.
Value Added in the Global Value Chains in the Automotive Industry in Slovakia
Pravda, Matúš ; Semerák, Vilém (advisor) ; Hayat, Arshad (referee)
The thesis provides a detailed decomposition of Slovak bilateral exports in the automotive industry and shows the development of global value chains participation in the scope of the Visegrad group. The first part, bilateral sectoral decomposition, examines shares of the domestic & foreign value added components as well as a double-counted term in Slovak exports to the global biggest economies. Moreover, it determines the origin of the foreign value added embodied in Slovak exports and final destinations, where the Slovak value added is absorbed. The second part determines to what extent is Slovakia participating in global value chains as well as Czechia, Poland and Hungary. The results obtained from this decomposition showcased a decreasing share of the domestic value added, which is caused to some extent by integration into these value chains as well as the character of Slovak production specialisation. Data series provided proof of a long-term trend.
Analysis of Free Trade Agreements Between European Union and Latin American Countries
Macháček, Martin ; Semerák, Vilém (advisor) ; Palanský, Miroslav (referee)
Bibliographic note Macháček Martin. Analysis of Free Trade Agreements Between European Union and Latin American Countries. 35. Bachelor thesis. Charles University, Fac- ulty of Social Sciences, Institute of Economic Studies. Supervisor Ing. Vilém Semerák M.A., Ph.D. Abstract The aim of this paper is to examine if free trade agreements between Latin American countries and the European Union have positive effect on trade flow between the two. For this purpose, we use gravity models, specifically Ordi- nary Least Squares and Poisson Pseudo Maximum Likelihood estimations with time and country-pair fixed effects. We apply these methods on five studied countries: Argentina, Brazil, Chile, Colombia and Mexico. The results show that the agreements with the European Union for the first four mentioned countries have positive impact, although lower than the impact of other agreements signed by these countries. For Mexico, the effect is negative, which corresponds with the reports of the EU, which is negotiating modernization of their agreement. JEL Classification C51, F12, F14, F21, H25 Keywords International trade, gravity model, European Union, Latin America Author's e-mail mhmachacek@gmail.com Supervisor's e-mail vilem.semerak@fsv.cuni.cz
Evaluation of China's FOREX policy: equilibrium exchange rate perspective
Qiriga, ; Semerák, Vilém (advisor) ; Baxa, Jaromír (referee)
Master Thesis: Evaluation of China's FOREX Policy: Equilibrium Exchange Rate Perspective. Author: - Qiriga Supervisor: Ing. Vilém Semerák M.A., PhD. Academic Year: 2018/2019 Abstract This thesis investigated China's foreign exchange policy from the equilibrium exchange rate perspective, using the Fundamental Equilibrium Exchange Rate model with multiregional dimension. The core question is whether Renminbi is misaligned (over- or undervalued) from 2001 to 2017. The result indicated that the bilateral nominal exchange rate of Renminbi against the US dollar was undervalued from 2002 to 2013, reaching a peak of 34.2% in 2007. In the rest of the years, it was overvalued slightly against the US dollar. As to the real effective exchange rate (REER) of Renminbi, it was overvalued in the first three years of the 2000s, then went through the period of undervaluation of 9 years, with a smaller degree compared with the bilateral exchange rate. It is shown that from 2013 the REER of Renminbi had been overvalued for several years until it was undervalued again in 2017 by 2%. Keywords FEER, Renminbi, exchange rate misalignment, multinational model, real effective exchange rate
Costs of Conflict: Empirical Analysis of the Economic Situation in Palestine and Israel
Pankina, Anastasia ; Baxa, Jaromír (advisor) ; Semerák, Vilém (referee)
This thesis analyzes the Israeli-Palestinian conflict. Deeply rooted in history, and dominated by mutual violence, the conflict has been causing considerable damage to society, politics and economics for several decades. The latest attempts for the peace negotiations process failed, leading to an escalation of tensions and the Second Intifada in 2000. The Israeli West Bank Barrier has been constructed with an aim to reduce the number of terrorist attacks and to stabilize the situation of the region. By using the synthetic control method, we evaluate the impact of the Second Intifada and the Barrier on GDP per capita. The results indicate that Israel benefits from the West Bank Barrier, in 10 years the country managed to completely recover from the substantial negative effect of the Second Intifada. On the other hand, the West Bank experienced a decline in GDP per capita at the beginning of construction since the Barrier damaged properties located close to the construction and restricted movement of goods and people. A couple of years later the situation stabilized, however, the West Bank was unable to achieve full recovery from the armed uprising of 2000, and the GDP per capita growth remained limited. The estimations for the whole of Palestine reveal a negative impact, that is also attributed to...
Innovation Indicator Analysis in the European Union: A Machine Learning Approach
Malecha, Jan ; Pleticha, Petr (advisor) ; Semerák, Vilém (referee)
The European Commission annually publishes a European Innovation Scoreboard (EIS) as a tool to measure the innovation performance of the EU Member States. This thesis extends the analysis published in the EIS 2018 in two different manners. The first part, a clustering analysis, examines the partition of the EU Member States to innovation performance groups. The thesis comes with a unique scheme of partition created by using hierarchical clustering. A comparison with the existing scheme shows that the general trends are similar in both schemes. The only main exception is the differentiation of the British Isles and Luxembourg apart from the other high performing countries. The proposed scheme provides insight about the within-cluster similarities, such as the similarity of Finland, Sweden and Denmark and their relative distinction from France, although they belong to one cluster. The second part, a regression analysis, attempts to examine the impact of innovations on real labour productivity. Contrary to existing literature, we do not find a statistically significant relationship between productivity and the components of the EIS. Additionally, the analysis is extended by the lasso estimation that provides a variable selection. The latter approach improves our findings and identifies four EIS...
Border Effect and Openness of Chinese Economy
Zacharuk, Pavel ; Semerák, Vilém (advisor) ; Cazachevici, Alina (referee)
The ratio of China's aggregate exports and aggregate imports to GDP has been decreasing in recent years, which seems to contradict many claims about China striving for increased openness about their economy. Our hypothesis is that the decrease might be connected with the development of GVCs and asymmetric improvement of transportation in China, driven by evolution of infrastructure. We have used simplified regionalization methods and regional input-output analysis in order to identify trend of interregional trade. The results show increase in interregional trade which does not refute this hypothesis.

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2 Semerák, Vojtěch
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