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Mapping Institutional Development: An Analysis of Deposit Insurance in Argentina
Lane, Dustin ; Cahlík, Tomáš (advisor) ; Benáček, Vladimír (referee)
72 Abstract This work analyzes the institutional evolution of Argentinian deposit insurance and how this evolution could be explained using the theoretical frameworks proposed by works both Acemoglu and Robinson and the works of Levitsky and Murillo. The study highlights how institutions develop over time within frameworks of political changes. In addition, the work highlights the theoretical gap in new institutional economics in relation to analyzing the development and evolution of institutions through time. In response to this theoretical gap this work proposes the use of new model to conceptualize how institutions interact at multiple levels of the institutional hierarchy and how independent institutional developments can be mapped within the institutional hierarchy as they develop through time. In the end it is the hope that the conceptualized model presented is the first step in developing a more practical and useful model for new institutional economics as it relates to economic development and the construction and implementation of development policies.
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Comparison of Factors Determining Czech Exports in Different Aggregations: Analysis by means of an Adjusted Gravity Model
Smotlachová, Eva ; Benáček, Vladimír (advisor) ; Bobková, Božena (referee)
The aim of the thesis is to estimate determinants of Czech export. The key novelty of the research consists in estimating export flows at three different levels of aggregation (total, machinery, automobiles) and a subsequent comparison of results. An augmented gravity model is implemented for the empirical research and estimated with the use of Ordinary least squares (including time or country dummies) and Poisson pseudo maximum likelihood estimators. Consequently, we propose the comparison based on the Poisson estimates due to incontestable weaknesses of the OLS estimator. Besides, we emphasize the importance of identifying the panel data structure, as we have obtained different results under the two structures (time series and cross-sectional). The predicted models reveal a substantial impact of home and partner's GDP, distance and the European Union. Total and machinery export seem to follow same tendencies, whereas the development of Czech automobile export differs and evolves on an idiosyncratic path. Therefore, it does not coincide with a path expected by trade theories based on the assumption of perfect competitive markets.
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Determinants of International Tourists Inflows: The case of China
Zang, Yu ; Dědek, Oldřich (advisor) ; Benáček, Vladimír (referee)
This study is aim to evaluate the effect of five factors on the amount of tourists arrivals to China in those countries who have most visitors. To apply empirical estimation, a balanced panel data based gravity equation is established, with 22 countries and 15 years period (1998 - 2002). Our main estimates conclude that GDP per capita has a positive impact on the amount of tourists, as well as population, whereas exchange rate and distance will deter the amounts of tourists. Unfortunately PPP conversion factor also has a positive impact but not as expected. The findings of this study will fill the gap of relative literatures for China and provide another evidence of gravity model.
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Various Estimation Techniques of the Gravity Model of Trade
Davidová, Lucie ; Benáček, Vladimír (advisor) ; Havránek, Tomáš (referee)
This diploma thesis deals with alternative estimation possibilities of the gravity model in trade. We provide the reader with a synthetic methodological overview of the technical problems with the estimation of gravity equations. Consequently, we test for the heterogeneity of data sets used in gravity models of trade which leads us to a conclusion that behavioural patterns of exporters and importers built in the datasets are very complicated and a single generalized specification of gravity equation can lead to bias in estimates and/or to similarly generalized conclusions that hide important robust idiosyncrasies in behavior present in some subsamples of economic agents. Both the theory of estimation techniques and dataset heterogeneity are applied in the empirical part estimating Austria's export function.
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Distributive impact of social security and tax systems on income distribution : case of Azerbaijan
Aliyev, Hikmat ; Stakhovych, Lyudmyla (advisor) ; Benáček, Vladimír (referee)
The research scope of the given thesis is the impact of the Social Security and Tax systems on the income distribution among population in the Republic of Azerbaijan. The study is constructed on the comparative analysis of the changes in taxes, social benefits and income among different groups of the local population. The findings of the thesis propose that while reforms in social security system may stimulate positive impact on the reduction of the gap in income distribution, tax security system in Azerbaijan does not have distributive power. Consequently, in comparison with tax reduction, an increase in social benefits is proposed as a policy with higher efficiency for the Azerbaijan. Furthermore, the analysis established that initially large gap in income distribution between older and younger families may gradually be decreased as a result of policy implementations in the social security system in Azerbaijan. Another important idea developed in the given work is possibility of applying innovative investment-based social security system in Azerbaijan.
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The Nature of Entrepreneurship: Society, the Individual and the Firm
Kapustin, Victor ; Benáček, Vladimír (advisor) ; Balcar, Petr (referee)
Entrepreneurship is often perceived as a crucial component of economic growth and social development. Studies into entrepreneurship inform policy design, thus the diverse understanding of entrepreneurship among scholars can create confusion in policy design. The current state of the field of entrepreneurial research is examined in order to identify the need for a universal definition of entrepreneurship. After a synthesis and analysis of prior research is conducted to identify the various links in perspectives, a new definition and framework is suggested. The resulting framework sees entrepreneurship as an autocatalytic process of creation of meaning and the consequent retention of said meaning in the structure of a new venture. The elements of this framework (autocatalytic process, creation of meaning, and retention in structure) can be assigned varying degrees of importance corresponding to differing perspectives, while simultaneously ensuring the presence of each element. The developed framework can be used to better inform the decisions of scholars and policy makers, due to the uncovering of the complex relationships between society, individuals and firms.
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Export Decision Support Model for the Czech Republic
Couceiro Vlasak, Carlos ; Mejstřík, Michal (advisor) ; Benáček, Vladimír (referee)
In this paper, an Export Decision Support Model applied to the Czech Republic is developed, with the aim of finding export opportunities. The model functions using a filtering process in which a stream of data composed of numerous socio-economic indicators representing the world trade is analysed. For their construction, an extensive literature review was developed relying strongly on a previous EDSM targeted as well for the Czech Republic, as at the moment no explicit rule exist describing its appropriate composition. Then, if a given market, determined by its associated matrix of indicators, fulfils the conditions of the model, then it is retrieved as an export opportunity. After the model construction, it is supplied with two streams of data, for 2010 and for 2014 and, the hypothesis that for both years the output is equal is evaluated. With the intention to infer if the constructed model needs periodical recalibrations for its appropriate use. Finally, a local sensitivity analysis is deployed uncovering the behaviour of the different parameters of the model, a novel approach not yet implemented in an EDSM tailor made for the Czech Republic. JEL Classification F10, F13, F23, M31 Keywords export opportunity, entrepreneurship, international marketing, sensitivity analysis, trade Author's e-mail...
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Environmental Refugees, the XXI Century Imperative Challenge
Alves Pereira, Marisa ; Benáček, Vladimír (advisor) ; Salamon, Janusz (referee)
There are new challenges, facing the 21st century and one of them is the discussion around climate change and global warming. This phenomenon brings with it a deeper problem, which is the fact that millions of people have their lives strongly damaged as a consequence of the climate changes. There is no international instrument that protects these climate victims, which in this thesis are referred to as environmental refuges. This thesis focused on trying to evaluate solutions to the problem of environmental refugees. To achieve this we first had a look at the different types of forced migration since it would define which type of solution would suit this type of refugees the best. We had a look at the "Oustees" which are the people who are forced to move due to development projects in the different countries. Then we had a look at Bangladesh as one of the case studies since it is one of the countries at higher risk of suffering the adverse consequences of climate change, which forces many people to move internally or to cross the border to India. We were able to conclude that cross border migration increases tensions between countries and between social groups of the receiving communities. Since these people need protection and since these types of tensions threaten peace and security in some...
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The determinants of access to finance: evidence for transition economies
Cazachevici, Alina ; Horváth, Roman (advisor) ; Benáček, Vladimír (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies MASTER THESIS The determinants of access to finance. Evidence for transition economies Author: Alina Cazachevici Supervisor: Roman Horvath, Ph.D. Academic Year: 2012/2013 Abstract The thesis provides an empirical analysis of impact of country-level and firm-level determinants on access to finance in transition economies. Generalized Ordered Logit model is applied on survey data for transition countries, combined with financial market indicators. The results show that higher concentration in banking sector, as well as higher financial deepening have a positive impact on access to finance, while volatile macroeconomic environment, higher implication of foreign-owned and state- owned banks seems to be perceived as increasing obstacles in accessing external financing. Combining indexes for liberalization in banking sector and liberalization of securities markets proved that before liberalization process firms had better access to finance. One of the possible explanations is that before liberalization state banks were forced by politicians to issue more loans, while after reforms the political pressure was removed, imposing stricter conditions for loan granting. Inclusion of corruption variable yields expectable results that...
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Impact of remittances on investments, financial development and economic growth. Case study Moldava
Cosovan, Natalia ; Cahlík, Tomáš (advisor) ; Benáček, Vladimír (referee)
Economic integration starts to be achieved faster through the international labor mobility than due to international trade or capital movements. Remittances, important international capital flows, became one of the most discussed topics in world. The migrant's transfers have become the primary source of existence in Moldova. This paper using data on transfer of funds for the period 1995-2010, attempts to examine the relationship between remittances and financial development, economic growth and investment level of Republic of Moldova. The main finding of this study is that remittances influence significantly the economic growth, the investment level. Moreover, these funds substitute for a shortage of development of the financial system and therefore promote growth. Keywords: Remittances, migrant, financial development, investment, economic growth, formal and informal channel. Author's e-mail: oti_marculescu@mail.ru Supervisor's e-mail: cahlik@fsv.cuni.cz
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