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The process of real and nominal convergence in the Czech republic
Šulc, Vojtěch ; Nečadová, Marta (advisor) ; Kulbakov, Nikolay (referee)
The aim of the thesis is to analyze the process of nominal and real convergence of the Czech Republic to the average of the European Union (EU-27). The text uses comparison with other european transition economies (Slovakia, Hungary, Poland and Slovenia). The thesis consists of an analysis of the progress of real GDP per capita, comparative price level, labor productivity, employment, labor costs and other indicators. Other topics such as alternative indicators of economical convergence or the accession of the Czech republic into the euro-zone are discussed.
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Comparison of economic development of Slovakia and Estonia before and after the entry into euro zone
Racochová, Kristýna ; Černá, Iveta (advisor) ; Taušer, Josef (referee)
The subject of thesis the Comparison of economic development of Slovakia and Estonia before and after the entry into euro zone, is a comprehensive analysis of the economic development of Estonia and Slovakia throughout the course of the integration process in the euro zone from 2004 to 2011. The first chapter reviews the theoretical bases of the work and discussed the theoretical bases of the processes of nominal and real convergence. In the introductory part is defined the concept of nominal convergence in the context of monetary integration and introduce each of the Maastricht criteria and its own set of macroeconomic indicators, on the bases of which ought to the development of Estonia and Slovakia in the analytical part of the work. The second part of the work is focused on the evaluation of the development of nominal and real convergence of the Estonia and Slovak economy to the states of the euro area and with each other on the basis of the development of selected indicators. The third part of the work deals with the final summary and comparison economic development ongoing nominal and real convergence in Estonia and Slovakia and assessment of the decision the timing of entry Estonia and Slovakia into the euro area.
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The process of preparation for the entry into the euro area
Hanzlíček, David ; Melcher, Ota (advisor) ; Pavlík, Zdeněk (referee)
The bachelor's theses "The process of preparation for the entry into the euro area" is dedicated to the czech accession into the euro area. The first chapter describes the history of monetary union from 1958 till now. Next chapter is focused on the legal obligation which is embedded in the Maastricht Treaty. The third chapter evaluates the current situation of fulfilment of nominal convergence criteria by Czech republic. The fourth chapter analyses the real convergence of czech economy according to criteria which were derrived from theory of optimum currency areas. The last chapter tries to explain why is the czech economy stagnating in the context of real convergence.
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Monetary policy of ČNB and prospects of euro adoption
Hojková, Tereza ; Koderová, Jitka (advisor) ; Petrušová, Martina (referee)
The thesis "Monetary policy of ČNB and prospects of euro adoption" focuses on assessment of current monetary policy of the Czech National Bank its role in the process of preparation for the adoption of the single European currency and the Czech Republic's preparations for joining the European Monetary Union. The second part deals with the monetary policy of the Czech National Bank in connection with the entry into the European Monetary Union and its alignment with the monetary policy of the European Central Bank. The third section examines the impact of financial crisis on the monetary policy of the Czech National Bank, and development of economy of the Czech Republic in comparison with the European Monetary Union.
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The monetary policy of the Czech national bank and the prospects of euro adoption
Kobzová, Tereza ; Koderová, Jitka (advisor) ; Osička, Štěpán (referee)
The aim of this thesis, thats title is "The monetary policy of the Czech national bank and the prospects of euro adoption. Meeting the Maastricht monetary criteria and possible complications.", is answer the question whether the Czech Republic is ready now to adopt the common european currency (euro) or not. This thesis is divided into three parts. The first part pays attention to the monetary policy of the Czech national bank in connection with the entrance of the Czech Republic into the euro area and other parts deal with the convergence of the Czech Republic to the euro area. The second part discusses the convergence from the perspective of meeting the Maastricht monetary criteria and the third part deals with the real convergence. My conclusion is that the Czech Republic is not ready now to adopt euro and should wait with the adoption of a common european currency till the moment when is prepared better.
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Nominal and Real Convergence of the Czech Republic to EU (selected issues)
Tobiczyk, Martin ; Koderová, Jitka (advisor) ; Hýla, Pavel (referee)
The aim of the submitted thesis "Nominal and Real Convergence of the Czech Republic to EU (selected issues)" is to analyze nominal and real convergence of the Czech Republic to EU member countries from macroeconomic point of view, by using comparison with other transition economies. It presents and discusses theoretical issues relating to convergent process. The thesis deals with analysis of convergence using these indicators: GDP per capita in purchasing power parities, comparative price level, Maastricht criteria and some other indicators.
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Integration state of the Czech Republic to the Eurozone
Krčmařová, Klára ; Čajka, Radek (advisor) ; Sedláček, Jiří (referee)
This bachelor thesis on the theme "Integration state of the Czech Republic to the Eurozone" focuses on the adoption of the euro by the Czech Republic. The work starts with the historical facts of the European Integration and integration of the Czech Republic into Europe. The work also describes the complex development of the Czech Republic from the perspective of all necessary criteria of nominal convergence and indicators of real convergence. In connection with the criteria is also mentioned the Stability and Growth Pact. One chapter is entirely about the Czech readiness to join the Eurozone. Specifically, this work describes the organisational and legislative measures. In conclusion, the work summarizes the possible positive and negative effects of the euro and also outlines the likely evolution and the term of the single currency in the Cech Republic.
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Convergence of new member states of the EU
Nevoralová, Lenka ; Adámková, Vlasta (advisor) ; Neumann, Pavel (referee)
This thesis concentrates on the new member states of the European Union and their convergent processes. It is particularly focused on five Central European countries -- the Czech Republic, Hungary, Poland, Slovakia and Slovenia, which became the members of the European Union on 1st May 2004. The first chapter deals with the countries during their preparation process for the membership in the EU, the meeting the Copenhagen Criteria and their economic development. The second chapter is focused on the development of Central European countries in the EU. There is featured the development in the first years of their membership and during the economic crisis and the recovery. The third chapter concentrates on the processes of the real and nominal convergence in the Central Europe. Besides monitoring various stages of convergence over time there is documented the course of the convergence by the calculation of beta convergence in the European Union. At the end of the thesis there is outlined the relationship between the degree of nominal and real convergence in the concerned countries.
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Nominal convergence and adoption of euro in Slovakia and Czech Republic
Guziová, Anna ; Adámková, Vlasta (advisor) ; Žamberský, Pavel (referee)
This diploma thesis deals with the nominal convergence and adoption of the single currency in Slovakia and Czech Republic. The first chapter briefly describes the formation of the Economic and Monetary Union. The second chapter concentrates on the Slovak and Czech Republic and their fulfilling of nominal convergent criteria. The third chapter describes and evaluates Slovak process of euro adoption. The forth chapter deals with the Czech Republic and euro and provides also opinion of various subjects on euro introduction.
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Problems of Nominal and Real Convergence in the Czech Republic before Euro Adoption
KAČENOVÁ, Petra
Czech Republic is one of the former countries of so called Eastern Bloc who decided to return {\clqq}back to Europe`` after the communist regime collapsed. The first step was taken May 1, 2004, when the country joined the European Union. The next step that expects the country after it meets the Maastricht convergence criteria is the adoption of the Single European Currency, euro. In order to meet the requirements of the European Union, Czech Republic must meet the convergence criterion of price stability, the criterion of long-term interest rates, the criterion of annual government deficit, the criterion of government debt and the criterion of exchange rate stability. Since the country joined the European Union, the criterion of price stability was not met in the years 2007 and 2008 only. Czech Republic meets the criterion of interest rates safely. The same applies to the criterion of the government debt. The criterion of government deficit is still being met, with a short exception in 2005. The criterion of exchange rate stability cannot be evaluated because the Czech Republic has not joined the ERM II system yet. The Gross Domestic Product keeps growing every year in the Czech Republic, however, not enough to reach the GDP growth rate in the old EU countries. On the contrary, the unemployment rate in CR is comparable with the EU. The exact date for Euro adoption will be set by the Government of the Czech Republic after the above mentioned critera are met. Introducing the Single European Currency in the Czech Republic may cause certain changes. For example as far as inflation is concerned, euro adoption itself will not cause any rise in price level, but unfortunately we cannot avoid a price increase. When looking at the business sector, it can be stated that probably the size of a business or firm will play an important role, and especially its specialization. Purchasing power of the population should not change substantially after the euro adoption. First of all, the stability and height of the exchange rate of CZK against euro will be important. Economic growth depends on the productivity of factors of production and on the unemployment rate. Since the Czech economy is open towards eurozone countries, I assume that the productivity of factors of production will grow and thus also the economic growth in the CR. Introduction of euro should have only negligible influence on the tax sector. With respect to the gathered values of indicators relevant for the a.m. criteria I assume that the Czech Republic will be ready to adopt euro, with some minor exceptions. Adopting the single European currency in the Czech Republic will be apparently a benefit. However, the most important aspect will be the right timing of euro adoption and the economic development in the neighboring countries, or more precisely in the eurozone countries.
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