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National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
State capture as market distortion: Effect of political connections in the Czech Republic
 Špolc, Martin ; Vacek, Pavel (advisor) ; Kameníček, Jiří (referee)
Politically connected firms may extract rent which significantly improves their financial performance, but with social costs to others in form of market distortions. The thesis presents the first empirical analysis of personal political connections to government ministers in the Czech Republic. We estimated value of political connections and inspected subsidies and public procurements allocation as channels of rent extraction on firm-level data set of 1993-2015 period. For both approaches, cross-section regressions and dynamic matching on covariates and propensity score, we found that connected firms significantly underperform their similar rivals, but slightly improve their performance over the time of connection to minister in office. Connected firms gain significantly more subsidies which confirms subsidy allocation as a channel of rent extraction. We interpret our results that firms may seek political connections as the last option how to improve their bad financial results and remain on the market. Biased subsidy allocation to connected firms in sectors where firms are dependent on subsidies like agriculture creates market distortions and could lead to significant consumer harm.
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Economic and social impacts of gambling in the Czech Republic
 Špolc, Martin ; Mlčoch, Lubomír (advisor) ; Mikolášek, Jakub (referee)
Gambling represents a significant part of the Czech economy which generates profits as high as dozens of billions CZK to the operators every year. Main share of the market is formed by technical games and slot machines. The thesis deals only with this specified section of gambling and tries to describe economic and social impacts of gambling from two different views. It proceeds with regression analysis at level of districts first time based on the Czech data and then describes the problematic at the local level in Prague. The results show connection of gambling with negative economic and social environment. Gamblers lost more money in districts with higher unemployment or social benefits payments and higher economic criminality. Gambling negatively influences also family background and the number of tradesmen. On the other hand, gambling based on foreign visitors is not seen to be connected with any negative consequences. The local analysis confirms differences between casinos and gambling houses and their low respect to rules. Pawnshops and other non-representative businesses can be found near gambling houses, more importantly the connection of gambling with criminality can be also found at local level. Thesis presents a complex overview of slot machine gambling in the Czech Republic and alerts readers...
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