|
|
Mortgage crisis
Archalous, Martin ; Pokorný, Jan (advisor) ; Bažantová, Ilona (referee)
The thesis deals with the US mortgage crisis of 2008. The mortgage crisis, the following financial crisis and the debt crisis have affected billions of people around the world. It has been widely covered in literature. This thesis, however, takes a different approach. It analyses the crisis form the point of view of law and economics, looking for overlaps between those disciplines. The author does not accept the divide between law and economics. It is necessary to consider both views in order to understand the crisis. This work does not seek causes of the crisis primarily in the banks and the lack of regulation, as is common view. Rather, this thesis looks for systemic failures and root causes. It focuses on monetary policy (especially the US Fed), the regulatory institutions, bank management and the role of credit rating agencies and exotic financial instruments. In the first part of the work, the author looks at possible causes in different areas: Monetary policy and global trade imbalances, regulation of the mortgage market and government support of affordable housing, banks and their management (corporate governance), regulation and deregulation of the banking sector (with emphasis on the functioning of regulatory institutions, their legal basis and historical context), so-called securitization and...
|
|
|
Law & Economics as applied on the area of insolvency
Krb, Štěpán ; Bažantová, Ilona (advisor) ; Hraba, Zdeněk (referee)
Insolvency law is one of the fields of law that most influence economic relationships. Its creation, interpretation and application is crucial both in ex ante and ex post paradigms, in that it influences the future behavior of legal entities and determines the rights and obligations of creditors, stakeholders and the debtor. Bringing about interpretations which lead to legal uncertainty and to perceived economic injustice influences the tendency to enter into transactions negatively. Therefore, the creation, interpretation and application of insolvency law should follow the principle of the least and necessary ingressions and always serve to fulfill its purpose. All three processes should be - given the prevailing economic dimension of insolvency - complemented by economic analysis as a tool to discover the true effects of insolvency law and to correct the same.
|
|
| |
|
| |
|
|
Direct foreign investments and their impact upon the economy of the Czech Republic
Czubek, Martin ; Bažantová, Ilona (advisor) ; Hraba, Zdeněk (referee)
FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON THE ECONOMY OF CZECH REPUBLIC This work deals with foreign direct investments (FDI) and investment incentives in the Czech Republic. Investment incentives are very often presented as instrument of economic policy for stimulation of investment activity as well as job creation. Almost every country in former socialistic block exploits it for attracting foreign direct investment. It evokes many disputes about thein efficiency. Protagonists of these "classical investment incentives" defend them as way for solving structural problems in affected regions. The others claim, that it is very often only waste of public expenditures. The Czech Repulic started to use them in 1998 to support an inflow of foreign direct investments. The Czech Republc expected from FDI restructuring of an industry, new technologies and know-how, higher productvity and economic grow. As started, Investment incentives were accessible mainly to big foreign enterprises and therefore they distrub free market functioning, because they privilege reduced quantity of subjects against the rest, which contribute greatly to incentives through their taxes. In the Czech Republic FDI offer higher level of wages and produktivity of labour than the Czech firms. Onthe other hand FDI are directed mainly...
|
|
|
The economic role of the state in globalized economy
Juřík, Richard ; Bažantová, Ilona (advisor) ; Seknička, Pavel (referee)
in English This diploma thesis encompasses the idea of the economic role of a state in relation to trends of globalization applying political science, political economy and economic geography. The idea goes on by progressively defined conceptions of societal institutions - the concept of a state and political nation on basis of the social contract, the conception of the fair society on basis of the work called Justice as Fairness by John Rawls, conception of globalization in terms of its trends in the area of changing division of work and rising income inequality, and conception of the character of changing roles of a state in relation to globalization and economy. Reference state is a small, internationaly opened, democratic and developed society, which holds western values and norms. It is assumed that in such society individuals pursue their own happiness as a notion of good life. In this aspect Justice as Fairness theory was chosen as a framework for society of equal citizens where economic transactions are considered fair and everybody is given the chance to pursue their own vision of their lives and such state of society shall remain preserved in time. Two main economic roles of a state are concluded by the analysis of consequences of chosen trends of globalization in relation to the...
|
|
|
Legal and Economic Aspects of Foreign Direct Investment with Reference to Taiwan
Jindra, Marek ; Bažantová, Ilona (advisor) ; Dupáková, Lenka (referee)
Název diplomové práce v anglickém jazyce, abstrakt v anglickém jazyce a 3 klíčová slova v anglickém jazyce Title: Legal and Economic Aspects of Foreign Direct Investment with Reference to Taiwan Abstract: The thesis on "Legal and Economic Aspects of Foreign Direct Investment with Reference to Taiwan" consists of two main parts, which are divided into eight chapters. The thesis uses the methods of secondary source analysis, synthesis, and comparison. The thesis is mainly based on domestic and foreign literature, foreign legislation, documents and data of international organizations published on their websites, academic articles, textbooks, and economic studies. The first part of the thesis deals with the general issue of foreign direct investment in four chapters, both from the legal and economic points of view. The thesis introduces the reader to the definitions of investment and investor, the nature and meaning of investment, the standards of treatment of investment, and, last but not least, its legal regulation. This section aims to provide a comprehensive overview of the various aspects of foreign direct investment protection, which will provide a well-rounded insight into the subject. In the second practically oriented part, the thesis analyses foreign direct investment in Taiwan. In particular, it...
|
|
|
Euro and the Czech Republic - the benefits and pitfalls of the euro currency
Snopek, Ondřej ; Bažantová, Ilona (advisor) ; Dupáková, Lenka (referee)
Euro and the Czech Republic - the benefits and pitfalls of the euro currency Abstract The thesis focuses on possible benefits, hazards and costs which could rise up from the entrance of Czech Republic to the Euro Zone and implementation of euro currency. The aims of the thesis are as follows: to acquaint the reader with the history of the monetary and economical integration in the Europe after the second world war to the present time; present the criteria of the nominal and real convergence used to determinate the level of convergence between states, assess the level of convergence reached by the Czech Republic in relation to the Euro Zone; and present the possible benefits hazards and costs of the introduction of the euro. To achieve the abovementioned aims, the method of analysis, synthesis, comparison and description was used. The content of the thesis is divided to five major chapters. The first chapter contains the history of the monetary and economic integration in Europe after the second world war starting with the establishment of the Council of Europe up to the acceptance of the Maastricht Treaty, establishment of the monetary and economic union - the Euro Zone and introduction of the euro in its member states. The second chapter introduces the nominal convergence criteria defined by the...
|
|
|
Economic and legal aspects of foreign direct investment in the Czech Republic
Hrazdíra, Adam ; Bažantová, Ilona (advisor) ; Dupáková, Lenka (referee)
Economic and legal aspects of foreign direct investment in the Czech Republic Abstract The thesis deals with the issue of foreign direct investment and investment incentives in the Czech Republic from an economic and legal point of view. The thesis defines the term FDI in the legislative framework and analyses from the available literature its positive and negative impacts on the host country and economic growth. Within the work, the genesis and development of the key Act No. 72/2000 is analysed in detail. The work aims to confirm the impact of changes in investment incentives on the inflow of FDI in the Czech Republic in the last two decades. The institutional role of CzechInvest and the procedure for approving investment incentives is also part of this work. Based on several studies, the thesis presents a dissenting opinion on the impact of investment incentives on the inflow of new investments and the overall economic advantage of these subsidies. In terms of statistical data, the work analyses both data on investment incentives and the inflow of FDI into the Czech Republic, both from a territorial and sectoral point of view. Part of the work is also an overview of the main determinants defined by experts influencing the inflow of FDI into the host countries. The work analyses the current development of...
|
|
|
Liberal theory and practice of competition law
Horych, Jan ; Bažantová, Ilona (advisor) ; Kühn, Zdeněk (referee) ; Večeřa, Miloš (referee)
Liberal theory and practice of competition law Abstract The presented thesis focuses on the matter of competition law from the point of view of selected schools of economic thought. The goal of the thesis is to provide a comprehensive insight into the content and nature of legal norms in the field of competition law and offer a comparison of views of specific traditions of economic theory on the selected bodies of legislation in force. The wider objective of the thesis is to explore the application possibilities of the findings of various economic theories to legal phenomena, with the thesis exploring both the anglo-american branch of economic analysis of law and heterodox approaches, that originate from the continental economic theory and jurisprudence. To this end, the thesis picks three distinct schools of economic thought, that are commonly labeled as liberal, these being the Austrian, Chicago and Freiburg school of economics, each having different methodology, theoretical and analytical conclusions and prescriptive suggestions. Bodies of legislation in force selected for the purposes of this thesis are competition law statutes of the Czech Republic, the Federal Republic of Germany and the EU. The Structure of the thesis applies the "from general to specific" method of explanation, i.e. introductory...
|
guest ::
