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Fiscal Policy and its Importance in Development of Economy
Erdenebat, Temuulen ; Brčák, Josef (advisor) ; Milan Robin, Milan Robin (referee)
This diploma thesis deals with the theme of fiscal policy and its importance on Czech economy from 2005 to 2015. In some parts, according to data availability, the author is trying to bring the latest information from year 2016 and predict the development of the economy in the near future. The thesis is divided into two parts, theoretical and practical part.
The theoretical part is focused more broadly on economic policy, formulates its wearers, determines its goals and tools, which are used for achieving the goals. It distinguishes between different types of economic policy. In the next chapter the phases, types and causes of the economic cycle are defined. The implementation of economic policies from two different points of view is also clarified. In the following chapter the author focuses on the main topic of fiscal policy and analogically defines its objectives, instruments and types. Subsequently, the budgetary system of the Czech Republic is analyzed. Separate chapter is devoted to the state budget. The main revenues, expenditures and overall balance are described. Lastly, the process of drawing up the state budget is explained in detail.
The analytical part follows the development of macroeconomic indicators such as gross domestic product, inflation and unemployment in the Czech Republic in the previously mentioned period. Then the development and structure of revenues and expenditures of the state budget are analyzed. Based on the final balance, a resolution for the problematics of Czech state debt is solved. In each chapter of the practical part is an attempt to analyse fiscal policy and its importance on certain developments. The results are compared with selected countries of EU 28.
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National debt of the Czech republic in comparison with selected EU countries
Škvrnová, Lucie ; Severová, Lucie (advisor) ; Svoboda, Roman (referee)
This Bachelor thesis is about national debt of the Czech Republic and its comparison with debt of chosen states of the European Union. In the theoretical part the thesis describe national debt and themes close to national debt, like budgetary system, public and national budget and fiscal imbalance. There is also some basic information about the European Union. State debt of the Czech Republic is compared with state debt of six chosen states of the European Union. In this part is also compared the insolvency of the Czech Republic and chosen states of the European Union. Main part, the practical part, deals with Czech Republic's inhabitants' awareness about the national debt. The result, given by questionnaire, is also a part of the practical part.
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National Debt of the Czech Republic compared with selected states of the European Union
Řezáčová, Veronika ; Severová, Lucie (advisor) ; Spiesová, Daniela (referee)
This work is focused on the general issue of sovereign debt and consequently on the comparison between the various European Union countries and the Czech Republic.
The first part deals with the theory of sovereign debt, as general government debt has been incurred and what resources the government has to deal with sovereign debt. There are also described emit forms of sovereign debt in the Czech Republic and the total debt in this country.
Own research in the form of a questionnaire survey is presented in the secod part of this work, which includes both the actual exploration and evaluation. Constitutive part also compared the actual states of the European Union to the Czech Republic according to individual criteria.
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State debt of the Czech Republic in comparison with selected countries of the European Union
Němcová, Eva ; Severová, Lucie (advisor) ; Svoboda, Roman (referee)
The bachelor thesis deals with a public debt of the Czech Republic and its comparison with debts of selected states of European Union. It is divided into two parts, theoretical and practical. In the first, theoretical part basic concepts, phenomena and methodology necessary for understanding the issue are defined. The practical part deals with historical events of mentioned states since 1918 regarding the development, state establishment, wars and similar events that caused greater fluctuations in the national debt. Next it thoroughly explores the development of state debt, consequently the economic situation of countries in the period of 1995 - 2014. In the next-to-last chapter comparison of national debts of the Czech Republic, Slovakia, Germany, Italy, Greece and Spain is done. The methods of investigation include the results of comparison and description In the last chapter of the practical part future development of state debt of the Czech Republic is predicted. The conclusion summarizes the results and benefits of the bachelor thesis.
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Central government debt of the CR in comparison with selected EU countries
Hlaváčová, Monika ; Severová, Lucie (advisor) ; Jitka, Jitka (referee)
This thesis explains concepts related to the topic such as central government debt, government debt, public debt, budget system and more. The analytical part is focused on the development of central government debt of the Czech Republic and its structure in the years 2000-2014. The central government debt from the point of view of the holders is divided into domestic and foreign debt. Its development and the development of individual components of these debts are described. In the thesis are also mentioned factors, which influenced the decline in central government debt in 2014. The next section compares the evolution of central government debt in CR and selected EU countries, namely Estonia, France, Italy, Germany, Spain and Greece. The structure of central government debt of selected countries for the period 2000-2010 is also analyzed, especially the marketable state debt that dominates. Its main parts are treasury bills, short, medium and long-term bonds. The thesis also describes the development of the government debt of individual countries and explains its difference from the central government debt. Evolution of government debt, such as percentage of GDP for next year, for the years 2015-2017 is estimated in STATISTICA programme. The causes of the sovereign debt reported by some authors as well as some suggestions for their solution are discussed.
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Long-term sustainability of state debt financing and the impact on development activities of the Czech government
Babičová, Martina ; Maaytová, Alena (advisor) ; Klazar, Stanislav (referee)
The aim of the thesis called: Long-term sustainability of state debt financing and the impact on development activities of the Czech government, is to evaluate the long-term sustainability. To achieve this aim the analysis of the development of the Czech state debt and identification of factors working for the deepening of fiscal imbalance was conducted. The work also explores the relationship between state debt and state budget expenditures on development activities of the government. Spending on research, development and innovation were chosen to identify that relationship. On the basis of the analysis there are suggested possible changes in fiscal policy which could contribute to improving the current situation and rebalance.
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Comparation of development of public budgets at particular political cycles in Czech Republic since 1993 to 2015
Křeček, Štěpán ; Ševčík, Miroslav (advisor) ; Chalupecký, Petr (referee)
The paper provides a comprehensive overview of public budgets in the Czech Republic, focusing on government budgets. The thesis compares the development of fiscal policies in distinct political cycles in the modern era of the Czech Republic. This allows for the analysis of the influence of the fiscal policies on the development of distinct macroeconomic indicators which then makes possible the evaluation of the success of different approaches to budget making. The preparation of public budgets is a periodical activity which happens at all levels of public governance. Therefore, the paper thoroughly analyzes preceding budgets and attempts to reveal the errors make by our governments. A deductive method is used with these analyses and their comparisons to make the foundation for general principles which can be used for the improvement of the budget planning in the Czech Republic.
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Evaluation of the public debt and the government deficit in the Czech Republic with an emphasis on the part of a public health insurance
Netolická, Nicole ; Peková, Jitka (advisor) ; Musil, Martin (referee)
The thesis aims to analyze the development of relevant debt indicators, i.e. state budget deficit, public debt, government deficit and debt, but also debt and the deficit of the public health insurance. The management of public health insurance in the Czech Republic is analyzed as well. Last but not least, the goal is to find also the most important factors affecting the growth of debt indicators of public health insurance and determine the possible consequences of the deficit of the public health insurance. The theoretical part consists of three chapters. The first chapter concerns the general public finances and financial imbalances. Here is particularly important the subchapter about the budget system. The second chapter deals with the debt indicators, namely public debt and its affiliates, as well as budget deficits and specific deficits. All of these debt ratios are then analyzed in the analytical part of this thesis. The last chapter relates to public health insurance. Analytical part is divided into two major chapters. The first chapter analyzes the development of the state budget, public debt, government deficit and government debt in the Czech Republic. The entire analysis is divided into two periods, namely 1993 to 2003 and 2004 to 2014. This section contains the definition of the most important causes of development. The second part is devoted to the analysis of public health insurance, namely its evolution, current state, but also the development of debt indicators of public health insurance, which are analyzed again within the Czech Republic in two seasons. At the conclusion of this chapter are defined the most important factors influencing the evolution of debt indicators of public health insurance and the impact of a possible deficit of the public health insurance.
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Analysis of development of the public debt of the Czech republic from 1993 until present with a special emphasis on the national debt
Netolická, Nicole ; Chmelová, Pavla (advisor) ; Štěpánek, Pavel (referee)
The objective of this bachelor's thesis is to measure effectiveness of European and national fiscal rules together with compliance evaluation on the basis of debt indicators analysis. It also provides feasibility study on governmental constitutional amendment on fiscal responsibility and related laws. The theory section of the thesis consists of 3 chapters. The first one concerns public finance in general with emphasis on a state budget theory. The second chapter consists of debt financing. It defines debt indicators such as state budget deficit, government deficit or national and government debt which are further analyzed in the practical part. The last chapter of this section focuses on fiscal policy and related fiscal rules. Practical part contains two larger chapters. The first one analyzes the before mentioned debt indicators that are tested in 5 year intervals. Performed examination and boosted interpretation points out an observable negative development of debt indicators and its main causes. The second chapter deals both with fiscal rules that are valid in the Czech Republic and those that might be valid in the future in terms of Constitutional law on fiscal responsibility. Considerably the European fiscal rules, the Maastricht Criteria and the Stability and Growth Pact, as well as national rules are taken into account and evaluated according to its influence on the debt indicators. In conclusion, it is measured the effectiveness of the fiscal rules, it was confirmed that the current regulation provides a positive influence on the debt indicators development and demonstrated the necessity of setting additional fiscal rules.
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Analysis of development of the state budget of the Czech republic from 1993 until present
Ďoubal, Jakub ; Chmelová, Pavla (advisor) ; Zeman, Karel (referee)
The objective of this bachelor thesis is to analyse the development of the national budget of the Czech Republic from 1993 until present, with focus on fulfilment of enacted budgets, effectiveness of reform policies and increasing debt. From an economical perspective, the fulfilment of the enacted budget is becoming a serious issue and reform policies adopted to solve this problem have proven to be inefficient. Like many other EU countries, the Czech Republic is struggling with increasing debt, which grew against all expectations during the period of economic growth and which must be decreased by establishing effective policies. In the theoretic and methodological part I have described technical terms related to public finance and economic theories describing analysed matters, for example the theory of public finance, theory of state budget, theory of budget deficit and state debt and theory of taxes. In the thesis were verified some of described theories such as theory of the electoral cycle and Laffer curve of taxation. In the practical part I have analyzed the development of legislation, tax rates as well as revenue and expenditures of the national budget, the budget deficit and public debt. Especially detailed is the analysis of the effectiveness and manner of implementation of specific reform policies. From analysis emerge success in predictions of taxes on personal income and social security premiums. In contrast inaccurately were predicted taxes on corporate income, value added taxes and consumption taxes.
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