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Economic and legal aspects of euro adoption in the Czech Republic
NOVOTNÝ, Adam
The Czech Republic has committed itself to adopt the euro with joining the European union in 2004. Until today there has not been any political interest of setting the specific date of euro adoption due to low public approval. Currently, there is an increase of positive public opinion about euro so it is the right time to start an objective discussion. The thesis is divided into three parts. The First part describes the history and evolution of the European monetary union, Maastricht convergence criteria and the theory of optimal currency area. The second part presents possible economic benefits and costs of joining the monetary union. The third and the main part examines the real effects of euro adoption on sample of selected countries with similar characteristics. The impact of euro on main economic indicators was analysed and there has been carried out a comparison between these countries. Also the role of euro in trade of selected countries has been highlighted. Last but not least, the possible impact of euro on country competitivness has been analysed in the context of optimum currency area theory. It is expected that joining the monetary union leads to a boost of bilateral trade which harmonizes the economic cycles of trade partners. The main purpose of this part is to prove the increase of competitiveness of exporters gained from monetary union measured by the raise of the bilateral trade interconnection. Finally these two criteria - gross domestic product alignment and bilateral trade interconnection have been used to describe the suitability of Czech Republic as a candidate country for the European monetary union.
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Integrace Litvy do eurozóny a její dopady na ekonomiku a veřejné mínění
Kachlíková, Eva
This thesis focuses on the political journey of Lithuania into the Euro area and examine the short-term domestic economic impact of the euro adoption in Lithuania. The theoretical part defines the development of Lithuania in the framework of regional cooperation and deals with the fulfilment of the Maastricht convergence criteria. These criteria define the readiness of the entry of Lithuania into the euro area. The practical part deals with interpretation of economic indicators in the Republic of Lithuania. Furthermore, this bachelor thesis uses a public survey. The aim of this part is to compare the expectations of the people with real economic impact. The data have been obtained from the public survey of Eurobarometer under the auspices of the European Commission.
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Czech Republic, Slovakia, and the monetary integration in the EU
Bendl, Ondřej ; Karlas, Jan (advisor) ; Jeřábek, Martin (referee)
This diploma thesis focuses on the process of euro adoption in the Czech Republic and Slovakia. Regarding the time frame, it mainly covers a period of 2004-2014. Nevertheless in order to maximise plausibility of results, this thesis focuses on relevant moments beyond the above mentioned period as well. The main aim of this thesis is to analyse a variation in the relationship of both examined countries towards the process of European monetary integration. Whereas Slovakia joined the Eurozone in 2009, the Czech Republic has not fulfilled its obligation stemming from the EU membership yet. The secondary aim of this thesis is to verify the power of IR theories dealing with transfer of sovereignty on the supranational level. Thus, this paper strives to identify whether the constructivist or rationalist (for the purposes of this thesis represented by ideational liberalism and commercial liberalism / liberal intergovernmentalism) theoretic paradigm is more accurate in its attempt to explain the examined variation. In order to fulfil this aim, methods of difference and congruence are applied. However, each of these methods shows different results. According to the method of difference, an explanation based on commercial liberal / liberal intergovernmentalist logic of economic-materialistic consequences may...
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The Evolution of Optimum Currency Area Index: Post-crisis Perspective
Kadlecová, Pavlína ; Horváth, Roman (advisor) ; Geršl, Adam (referee)
This paper estimates the determinants of exchange rate variability for 21 developed economies in 1980-1998. The results show that traditional criteria implied by the optimum currency area (OCA) theory, such as business cycle synchronisation, trade linkages and economy size, determine to a large extent bilateral exchange rate variability. Using the ordinary least squares estimation, we compute OCA indices for European economies vis-à-vis Germany and identify countries showing consistently large or little signs of convergence. We find that since 1998, most European developed economies have converged to Germany whether or not they are using the euro, suggesting that structural similarity is not driven solely by monetary integration. Our results from the model estimated by the generalized method of moments suggest that two additional criteria reflecting labour market flexibility and private credit growth are significant in explaining the exchange rate variability and lead to a ranking of countries different from the traditional approach. We find a positive relationship between the OCA indices and GDP decline during the economic crisis of 2008-09, which further supports the view that the OCA index is a useful indicator of the candidates' readiness to join the Euro Area. We apply the results to the...
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A Reflection on the Question of Single European Currency Adoption in the Czech Press
Obenbergerová, Linda ; Křeček, Jan (advisor) ; Kyjonková, Petra (referee)
Diploma thesis "A Reflection on the Question of Single European Currency Adoption in the Czech Press" deals with an analysis of media picture of the transition of the Czech Republic to the common currency euro in Czech media. With the help of the quantitative method of content analysis and the qualitative method of grounded theory, articles from the dailies Hospodářské noviny and Právo are being analysed. The sample includes articles from the beginning of May 2004, the accession of the Czech Republic to the European Union, until the end of April 2011. Quantitative content analysis enables comparison of both of the periodicals by means of organization and general summary of quantifiable data from the articles. The method of grounded theory regards the examined collection as a whole and provides detailed analysis of the sample in order to identify hidden structures of the text. The focus of this work is articulation of the media image of the European common currency adoption in the Czech Republic, based on the partial outcomes of the research project. This text as an extension of the bachelor thesis "The Image of Euro Adoption in Czech Press" uses its outputs in addition to the revision of the research with a broadened sample, mapping seven years of development of the topic. Consequently, scope for...
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Logistics management of money circulation
MAŠKOVÁ, Kateřina
The main objective of this thesis was to map the logistics system coins and notes circulations in the Czech Republic and design a system of logistics activities in the exchange of cash money, when Czech Republic adopts the single European currency. The secondary aim was to describe the current currency exchange preparation and propose an optimization based on currency conversions in the past and in other states. The important was to get the information by structured interviews with technical staff Czech National Bank in Prague and with former director of the Czech National Bank in the Czech Budejovice. Based on the information was described distribution chain of cash money. Part of this thesis is devoted to the current issue of the introduction of the euro in the Czech Republic. The exchange of cash money is the most visible element of currency change. Also puts the greatest demands on the logistics management. Based on the information about the euro changeover in other states have been proposed recommendations for the Czech Republic.
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Comparison of euro adoption strategies of EU member states
Vaňkát, Jan ; Neumann, Pavel (advisor) ; Žamberský, Pavel (referee)
The diploma thesis compares euro adoption strategies of Hungary, Poland and the Czech Republic. Theoretical part of the thesis assesses eurozone in terms of optimum currency area criteria, describes benefits and costs of eurozone membership and criteria of nominal and real convergence. Comparative part explores inter alia whether the compared countries have set euro adoption date, whether they fulfill the Maastricht criteria, what's the degree of their real convergence and what's their attitude to euro adoption in general and current European pacts.
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The readiness of the Czech Republic to adopt the euro in comparison with the economic determinants of euro adoption in Slovakia
Šindelářová, Andrea ; Vostrovská, Zdenka (advisor) ; Zabranská, Monika (referee)
This thesis will deal with a current issue - euro adoption in the Czech Republic. The three neighboring countries of the Czech Republic have already adopted the euro. The Czech Republic lie under an obligation to adopt the euro and solve the arguments for and against early entry to the Euroarea at this time. The issue will be solved from the perspective of euro adoption in Slovakia. Both of the republics had the "same" default position seventeen years ago. Why is Slovakia the member of the Euroarea and why not the Czech Republic? Advantages and disadvantages of euro adoption in Slovakia will be the basis for the argumentation of the acceptance or rejection of the euro in the Czech Republic. The purpose of the thesis is to demonstrate the Czech readiness to adopt the euro from a purely economic point of view, even though this is a political decision. The adopted methods will be analysis and comparison of macroeconomic indicators, called the magic rectangle (GDP, inflation, balance of payments, unemployment rate). The thesis will evaluate the progress of these indicators in the key periods of the republics. These periods had an impact on the state of both economies and led to euro adoption in Slovakia and the postponement of euro adoption in the Czech Republic indefinitely (separation of both republics, preparations and entry into the European Union, preparations for euro adoption, the advent of financial crises, etc.). The main aim of this thesis is to answer the question "Why is Slovakia adopted the euro earlier than the Czech Republic?" and to confirm or to disprove hypothesis of Czech readiness to adopt the euro according to experience of Slovakia.
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The Impact of the Global Financial Crisis on the Czech Economy
Proroková, Olga ; Koderová, Jitka (advisor) ; Čermáková, Daniela (referee)
The diploma thesis deals with the impact of the Global Financial Crisis to the Czech Economy. The aim of the thesis is to analyze the actual implications of the Global Financial Crisis to the Czech economy. The thesis is divided into three parts. The first part describes the causes of crisis and the way how the crisis split from the USA to Europe and other countries. The second part deals with the impact of the financial crisis on the Czech Republic. The impact of the financial crisis to the individual areas of the Czech economy is described as well as the reaction of monetary policy and government including the fiscal impact. The third part deals with the possibility of the Czech Republic's entry to the European Monetary Union in the light of current financial crisis.
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Analysis of management functions and changes in a particular organisation
KOLBAN, Jiří
The main objective of the thesis was analysis of management functions and changes in a particular organisation. The partial objective was examination of the questions of euro introduction and adoption in the Czech republic, explaining particular legislative steps or plans, where CNB acts as an advisory body of the Government. Further, the thesis examines the changes {--} effects (advantages, disadvantages) of euro adoption on the particular organisation and other subjects.
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