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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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Problems of Nominal and Real Convergence in Selected New EU Member States before Euro Adoption
NOVOTNÁ, Adéla
My objective is to describe the issue of the EU monetary system, then to describe problems connected with the nominal convergence and the real convergence of the Czech Republic and to compare it with selected Central European EU countries. When each country joins the EU every it commits to acceptance of the euro without any unreasonable delay. It commits to convergence criteria, particularly nominal criteria (which represent approaching level of nominal quantity), which are articulated in the Maastricht treaty. Besides, they must be focused on the level of real convergence (which represent approaching economic level one country to economic level more developed country).
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Current financial and economic crisis and the entry of the Czech Republic into the European Monetary Union
Strnad, Petr ; Koderová, Jitka (advisor) ; Hýla, Pavel (referee)
This Diploma Paper provides an analysis of the Czech Republic convergence process, which importance grows more in the period before entry into the European Monetary Union. The convergence is evaluated on the basis of three criterion units which are standing alone but fading into each other. It is the Nominal convergence including Maastricht criteria which have been stated in the Treaty on European Union, then Real convergence criteria and criteria which accompany the development of the Optimum Currency Areas Theory. The theoretical part gives the definitions of particular criteria and draw the attention to potential problems which can occur by their interpreting. In the practical part there are comparative characteristics used to analyze achieved state of the convergence in the Czech Republic in relation to EU countries and euro area countries. This part attends also to monitoring the current financial and economical crisis and it's impact on individual indicators.
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The Czech Republic and the Euro Area
Fiedlerová, Lucie ; Ježek, Tomáš (advisor) ; Kubelková, Karina (referee)
This graduation thesis is concerned with the Czech Republic's readiness for the entry to the euro area. Our Republic engaged to adopt shared euro currency already before the single admission to the European union, therefore it is not suitable to research, whether the Czech Republic should adopt euro or not, but when this step will be the most appropriate to render. The introductory part of the theses describes the history of the European monetary integration and the Stability and Growth Pact as an important instrument of the budget branch adherence. The theoretical part of the thesis focuses on the theory of optimal monetary areas, which is closely associated with monetary integration. Analytical section examines the rate of nominal and real approximation of Czech economy to the euro area's economies. I deal thoroughly with the fulfilment of convergence criteria and on the basis of GDP growth rate I analyse the real convergence. I solve the current influence of Greece's problems on the admission of euro in the Czech Republic and the Slovak macroeconomic experience with the entry to the euro area.
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The process of the nominal and real convergence in Czech Republic after entering European Union
Benedikovičová, Petra ; Nečadová, Marta (advisor) ; Pošta, Vít (referee)
The aim of the bachelor paper is the macroeconomic analysis of the nominal and real convergence of Czech Republic within EU-27. Is the economic and price level of the Czech Republic closer to the level of EU-27? To which extent did the entering of the Czech Republic influence its competitiveness? Does the Czech Republic fulfill the Maastricht Convergence Criteria? I will try to answer these questions with the help of the chosen indicators on the basis of the statistic data available from the Statistical Office of the European Commission Eurostat, national CSO, also according to the evaluation of the Global Competitiveness Report, which is published every year by the World Economic Forum and finally according to the document of the Ministry of Finance of the Czech Republic and the Czech National Bank, that has been evaluating the fulfillment of the Maastricht Convergence criteria from the year 2004.
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Nominal and real convergence of the Czech Republic in relation to EMU
Klátová, Jana ; Plchová, Božena (advisor) ; Korandová, Jiřina (referee)
The diploma thesis evaluates nominal and real convergence of the Czech Republic in relation to its future entry to euro area. First chapter focuses on process of creating the Economic and Monetary Union and description of convergence and its function during the implementation of euro. In the second chapter the Czech monetary integration process is defined. The third and forth chapters contain evaluation of convergence of the Czech Republic. In the last chapter there is a comparison of the Czech Republic and Slovakia, especially the common and different trends in approaching the process of monetary integration.
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