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Foreign Direct Investment in Emerging Markets: The Case of Turkey
Huseynli, Orkhan ; Geršl, Adam (advisor) ; Zeynalov, Ayaz (referee)
This paper studies determinants of FDI in Turkey using panel data analyses. The results of the study show that political stability, education level, rule of law, and trade cost have significant impact on FDI inflow in Turkey while similarity in economy size of home and host country (Turkey) has not. The effect of the trade cost and rule of law was surprising but it gave a clue to new research area. It was concluded that next studies of FDI determinants in Turkey must be conducted at firms' level to better understand the behaviour of foreign direct investments in the country.
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The Effect of Globalization on the Income Inequality
Stárek, Martin ; Cahlík, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
In this thesis, we explore the effect of globalization on the income inequality. We examine some features of methodology used in the majority of research on this topic that can have significant impact on results but they are not addressed in the publicly available research. Firstly, we proposed a new method of normalization that creates more stable data and created a new simple index of globalization using this method. This index then yielded more consistent results than the standard globalization indices. Secondly, we found out the most significant variable in a composite index can have no economic or logical interpretation. This was the case with the effect of mobile cellular subscriptions per 100 people on the income inequality. This means results of composite indeces should be interpreted carefully and a better analysis is probably estimating effects of all underlying variables individually. Moreover, we found that underlying variables in a composite globalization index can have opposite effects on the income inequality. The effects than cancel out, at least partly, and this can lead to smaller, statistically less significant results. Nevertheless, the overall effect of globalization on the income inequality, though statistically not significant, appeared to be negative. This is the case...
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Influence of renewable energy sources on transmission networks in Central Europe
Málek, Jan ; Janda, Karel (advisor) ; Zeynalov, Ayaz (referee)
This thesis focuses on the influence of renewable energy sources on the transmission networks in Central Europe. Firstly, it gives an overview of the power and transmission systems of Central European states. Based on the analysis, three key causes of congestion and instability of the grid are identified. These include (i) insufficient transmission capacity between northern and southern Germany, (ii) Energiewende policy and (iii) existence of German-Austrian bidding zone. To assess the exact impact on the transmission grid, ELMOD model is employed. Two development scenarios for the year 2025 are evaluated on the basis of four representative weeks of the year 2015. The first scenario focuses on the effect of Energiewende on the transmission networks, the second one drops out nuclear phase-out and thus assesses isolated effect of increased solar and wind feed-in. The results indicate that higher feed-in of solar and wind power increases the exchange balance and total transport of electricity between TSO areas as well as the average load of lines and volatility of flows. Solar power is identified as a key contributor to the volatility increase, wind power is identified as a key loop-flow contributor. Eventually, it is concluded that German nuclear phase-out does not significantly exacerbate mentioned problems.
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The Effect of Distance on International Trade: A Meta-Analysis
Tlustá, Anna ; Havránek, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
Over the time the effect of distance has became an essential component for understanding international trade flows. The main goal of my bachelor thesis is to collect specific data from each study concerning the distance effect and design meta-analysis based on this dataset. I build my work on the data published by Anne-Celia Disdier and Keith Head (The puzzling persistence of the distance effect on bilateral trade) that were relevant in 2006. I examine 1470 estimates reported in 130 studies. Since the previous meta-analysis does not include all required methods to reveal the publication bias, I focus mainly on this issue by incorporating all the appropriate tests. Finally, I disprove the argument that distance effects on bilateral trade decline over time and I explain the presence of heterogeneity among the estimates. 1
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Does Daylight Saving Time Save Energy?: A Meta-Analysis
Herman, Dominik ; Havránek, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
Daylight saving time energy savings have always represented a contentious topic requiring empirical evidence for, or against. Unfortunately, as the conclusions are miscellaneous-without an evident pattern of heterogeneity occurrence-insisting on particular case studies and narrative literature reviews seems to be insufficient. In this thesis, set of various studies concerning the effect of daylight saving time on energy savings is examined through meta-regression analysis to provide an accurate estimate of the effect corrected from publication bias, and other distorting and deflecting effects. We find that the mean reported estimate in the literature suggests 0.3% energy savings; our results suggest no signs of publication bias. On the contrary, the study design turned to be a substantial determinant of the primary literature findings. The thesis provides a unique overview for this is the first meta-analysis conducted on the daylight saving time energy savings. Powered by TCPDF (www.tcpdf.org)
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The importance of tax system structure for economic growth in OECD countries - Extreme Bounds Analysis
Choutka, Petr ; Kemény, Irena (advisor) ; Zeynalov, Ayaz (referee)
The importance of tax system structure for economic growth in OECD countries - Extreme Bounds Analysis Abstract The thesis examines the importance of tax system structures for economic growth in OECD countries. It aims to find out whether a revenue-neutral tax reform can promote economic growth. In other words, its objective is to identify taxes which are most harmful for economic growth and suggest tax policy implications accordingly. The extreme bounds analysis is employed to examine the robustness of relationship between particular taxes and the growth rate. This method consists in running a number of regressions and observing how the coefficients respond to various model alterations. The results suggest that taxes levied on personal income have a robust negative impact on economic growth. On the other hand, consumption and property taxes appear to be non-significant predictors of economic growth. The policy implication is drawn that a revenue-neutral tax reform shifting the tax burden from personal income towards consumption and property is likely to boost the economy. JEL classification: H21, H24, H27, O11, O47 Key words: tax system structure, economic growth, extreme bounds analysis, tax reform
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Foreign Direct Investment in Emerging Markets: The Case of Turkey
Huseynli, Orkhan ; Geršl, Adam (advisor) ; Zeynalov, Ayaz (referee)
This paper studies determinants of FDI in Turkey using panel data analyses. The results of the study show that political stability, education level, rule of law, and trade cost have significant impact on FDI inflow in Turkey while similarity in economy size of home and host country (Turkey) has not. The effect of the trade cost and rule of law was surprising but it gave a clue to new research area. It was concluded that next studies of FDI determinants in Turkey must be conducted at firms' level to better understand the behaviour of foreign direct investments in the country.
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Google Econometrics: Unemployment in Visegrad Countries
Pavlíček, Jaroslav ; Krištoufek, Ladislav (advisor) ; Zeynalov, Ayaz (referee)
This thesis examines the relationship between job-related Google search query indices and unemployment rate in Visegrad countries. We found that the unemployment rate generally moves in the same direction as the search volume index for the job-related term. The series of Google search query indices also proved useful for prediction-making. Models with Google series showed lower MAE and RMSE of static forecast compared to base models in all four countries. However, only models for Poland and Slovakia showed potential for nowcasting. Powered by TCPDF (www.tcpdf.org)
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Price Elasticity of Alcohol Demand: A Meta-Analysis
Fanta, Nicolas ; Havránek, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
The own-price elasticity is considered to be one of the key factors describing the demand for alcohol. There have been many estimates computed by now but only a few studies tried to analyse them. The aim of this meta-analysis is to discover more about the eventual effects that publication bias might have in the alcohol-related literature. The first part describes the various types of elasticities and the methods of estimation. This study is estimating the so called true effect elasticity in order to show how elastic the demand for alcoholic beverages is. As there are many ways how to estimate the elasticities it is also analysed if different approaches to the estimation lead to different results. The use of modern meta- analytical methods leads to significantly different results from the ones of previous meta-analyses. The estimated true effects yields new evidence that the demand for alcoholic beverages might be perfectly inelastic. Evidence of publication bias is quite strong and it appears that the economics research cycle hypothesis is also valid.
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Publication Bias in Measuring Anthropogenic Climate Change
Rečková, Dominika ; Havránek, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
People around the world are interested in climate changes. Especially the impact of human being on climate changes plays an important role in the policy discussion about environment. One of the measures of anthropogenic climate change is climate sensitivity. The main aim of this thesis is to apply meta-analysis methodology on relationship between human activity and climate change. Until now, tens to hundreds of studies have been written on this topic, but only few report the estimate of climate sensitivity. Despite majority of the studies refer to recognizable influence of human activity on the climate change, the results of individual studies do not correspond in absolute values perfectly. Until now only one meta-analysis concerns publication bias in literature covering climate change, it uses vote- counting and detects publication selectivity efforts. But no meta-regression analysis was published on this topic yet. The thesis investigates if the results of studies reporting climate sensitivity are influenced with the effort to publish only positive and significant estimates. It applies effective statistic instrument, meta- regression analysis, that allows systematic evaluation of an inconsistent sample of estimates. This method was applied on the data set consisting of 48 estimates coming from 16 studies....
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