|
|
Theory of protectionism and trade policy of the European Union
Dobrovolný, Jan ; Benáček, Vladimír (advisor) ; Mertlík, Pavel (referee)
The thesis deals with the issue of protectionism, i.e. governmental policies for restricting international trade, from both theoretical and practical point of view. The first part is concerned with theory of protectionism in the framework of perfect competition in world markets. The emphasis is placed on the tariff on imports as the basic instrument of protectionist international trade policy. The second part is focused practically and deals with protectionist instruments within trade policy of the European Union. The Common Agricultural Policy of European Union is analyzed more properly. Powered by TCPDF (www.tcpdf.org)
|
|
|
Chinese economy and foreign trade imbalances
Podhajecká, Eva ; Hlaváček, Michal (advisor) ; Benáček, Vladimír (referee)
Chinese economy and foreign trade imbalances The paper analyses current global imbalances in international trade that are characterized on one side by huge US current account deficit, on the other side by growing economies of South East Asia that are accumulating foreign exchange reserves and consequently investing them back to the US dollar denominated assets. This way they basically facilitate further growth of US indebtedness. The question is how much longer are these imbalances sustainable and how much longer will be foreign investors willing to lend the money to the US. The thesis consists of introduction; followed by explanation of circumstances that allowed these imbalances to reach such a large scale. Second chapter addresses to the brief description of US economy, impact of growing budget deficit on current account deficit and new trends in financing these deficits. In the third chapter, the economy in China is thoroughly analyzed, its monetary policy, development of foreign trade and its share on widening of current trade imbalances. Powered by TCPDF (www.tcpdf.org)
|
|
|
Analysis and models of Czech balance of trade
Čása, Tomáš ; Benáček, Vladimír (advisor) ; Semerák, Vilém (referee)
The thesis starts with the identification of balance of trade within the general theoretical framework of the balance of payments. In the environment of the transition economy, balance of trade has especially large influence on the external balance and we try to point out that trade flows should always be evaluated in this broader perspective. Factors that influenced the creation of positive trade balance in the 2000-2005 period are summed up and discussed in the next part. Empirical verification of great impact of income and price elasticities on the Czech trade balance is presented using simple OLS framework and data for trade flows with EU. Second aim of the thesis is to explore more closely the microeconomic supply-side-based approach to trade balance. Analysis of sectoral structure of the trade balance using the classical comparative advantage concept as the main determining factor is presented. We attempt to verify that the exchange of goods in manufacturing industry is carried out at least to some degree in accordance with this classical theory. We also use analytical method by calculating different revealed comparative advantage indices for disaggregated manufacturing industries as a demonstration of a more dynamic and heterogenous approach to sectoral competitiveness. Powered by TCPDF (www.tcpdf.org)
|
|
|
Confidence, economy and the global economic crisis
Fišer, Radovan ; Benáček, Vladimír (referee) ; Horváth, Roman (advisor)
We examine the role of confidence in economic fluctuations. Empirically we examine Granger causality from consumer confidence indicator to growth of economic output in the Czech Republic and the United States. In case of the U.S., we confirmed the causality robustly. In case of the Czech Republic, we found the causality, but not a robust one. Generally, the causality is taken as evidence for macroeconomic models with shocks to consumers's expectations. Recently, these models with unique-equilibrium gain on importance in economic theory. The second focus of this study is the confidence-related part of the financial and economic crisis of late 2000s which made confidence indicators hit record lows. Confidence has been cited as both a source of the crisis and the remedy to the crisis. We analyze such thoughts. One of the main ones is the incorporation of animal spirits into mainstream economomics.
|
|
|
Increasing returns to scale and international trade : role of multinational corporations in the world economy
Lypko, Vyacheslav ; Semerák, Vilém (referee) ; Benáček, Vladimír (advisor)
The aim of this thesis is to analyze increasing returns to scale as one of the important reasons that can affect market structure and pattern of international trade. Analysis id focused on theoretical models describing increasing returns to scale and it is explained how these returns affect the pattern of international trade. First part of the thesis is devoted to internal economies of scale, intraindustry trade and dumping, including empirical part. Second part is devoted to the external economies of scale and pattern of international trade. Third part is about the multinational corporations - characteristic of MNC's and their structure and their role in modern world economy.
|
|
|
Subsidy competition for spillovers for inward FDI
Havránek, Tomáš ; Benáček, Vladimír (referee) ; Cahlík, Tomáš (advisor)
Chapter 2: Meta-Analysis of Intra-Industry FDI Spillovers: Updated Evidence The present paper conducts a meta-analysis of literature on intra-industry productivity spillovers from foreign direct investment. Apart from the traditional approach, robust meta-regression, random effects model, and probit meta-regression are employed. Results of combined significance analysis are mixed but it is apparent that papers published in leading academic journals tend to report rather insignificant results. Our findings suggest that cross-sectional and industry-level studies are likely to find relatively strong spillover effects, and that the choice of proxy for foreign presence is important. The pattern, however, seems to weaken over time. Contrary to previous studies, evidence for publication bias was not detected. JEL Classification C42, D62, F21, F23, O3 Keywords Meta-analysis, Productivity spillovers, Technology transfer, Foreign direct investment, Multinational corporations Chapter 3: On the Determinants of Foreign Direct Investment Incentives This paper examines the microeconomic motivation of governments to provide tax incentives for foreign direct investment. Author applies the classical models of oligopoly to subsidy competition, endogenousing investment incentives, but leaving tax rates exogenous....
|
|
|
Subsidy competition for spillovers from inward foreign direct investment
Havránek, Tomáš ; Benáček, Vladimír (referee) ; Cahlík, Tomáš (advisor)
The first part conducts a meta-analysis of literature on intra-industry productivity spillovers from foreign direct investment. Apart from the traditional approach, robust meta-regression, random effects model, and probit meta-regression are employed. Results of combined significance analysis are mixed but it is apparent that papers published in leading academic journals tend to report rather insignificant results. Our findings suggest that cross-sectional and industry-level studies are likely to find relatively strong spillover effects, and that the choice of proxy for foreign presence is important. The pattern, however, seems to weaken over time. Contrary to previous studies, evidence for publication bias was not detected. The second part examines the microeconomic motivation of governments to provide tax incentives for foreign direct investment. The author applies the classical models of oligopoly to subsidy competition, endogenousing investment incentives, but leaving tax rates exogenous. According to the conventional wisdom, subsidy competition leads to overprovision of incentives. The results suggests that, in the oligopolistic framework, supranational coordination can either decrease or increase the supply of subsidies. Further, in the setting of subsidy regulation, the host country's corporate...
|
|
|
Thailand in Regional and Bilateral Free Trade Agreements
Rattanaphan, Chalakorn ; Janda, Karel (advisor) ; Benáček, Vladimír (referee)
The Regional Trade Agreements (RTAs) and the bilateral Free Trade Agreements (FTAs) have increasingly been a new wave of international trade around the world. The countries who seek to establish these agreements, be regionally or bilaterally, realize that the trade agreements are in fact tools to increase trade with their trading partners, to extend and expand their foreign markets, as well as to encourage foreign investments but the overall goal is to strengthen economic tie with the trading partners. Thailand is considered a young and new player in free trade agreements. Given the fact that Thai government's trade policy has been quite ambitious and proactive, Thailand has constantly attempted to establish free trade agreements with its important partners around the world. Regarding Thailand's strong support in export-oriented economy, seeking a greater access to foreign markets through free trade agreements is in fact the country's first priority. Thailand's commitment on regional trade agreement under ASEAN Free Trade Area, and bilateral Free Trade Agreements under TAFTA and JTEPA has provided considerable benefits for Thai economy mainly through an increase in export as well as impor. Moreover, the FTAs have proved to increase competitiveness on Thai products which results in an increase of market...
|
|
|
International business and financial relocation in connection to CEE region
Keller, Robert ; Turnovec, František (advisor) ; Benáček, Vladimír (referee)
The focus of this master thesis is to introduce reader to the topic and range of international business and financial relocation to countries with lower cost of production, i.e. low-cost countries. It represents another step in globally organized activities with various effects on the host and home economy, especially in area of job creation or destruction. It focuses on the phenomenon progression in two main European economies, Germany and France in connection to mentioned low-cost countries, especially to Central and Eastern Europe region. On the other side it focuses on Czech Republic, which is the number one target of foreign direct investment (FDI) per capita among V4 countries, and thus potential destination for relocated activities, stressing primarily not only sector analysis of FDI but also of non-domestic sales. Powered by TCPDF (www.tcpdf.org)
|
|
|
Fair trade
Bělíková, Zuzana ; Semerák, Vilém (advisor) ; Benáček, Vladimír (referee)
This paper deals with the concept and current form of fair trade - business cooperation with producers in developing countries to the end of ensuring them a higher standard of living through offering them better prices for their products. The study summarizes the development of fair trade since its establishment in the forties of the last century till the latest stage, which is characterized by internationally recognized certificates being issued for products made in fair trade production. The paper also attempts to identify and clarify important moments which encouraged the implementation of this initiative. In the second part of the paper the author focuses on a more detailed analysis of how fair trade works. She identifies its differences from conventional trade and, using coffee as an example, demonstrates price differences in both distribution channels. Further she maps the volume of fair trade within Europe and over the world, arriving to the conclusion that this sector has been significantly growing in the last few years. As a determinant of the future development of fair trade, she accentuates sufficient interest of customers in fair-traded products. In the last chapter she discusses problematic areas and the critique of the concept. Powered by TCPDF (www.tcpdf.org)
|
guest ::
