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The effect of european economic integration on international trade
Tománek, Ondřej ; Dlouhá, Zuzana (advisor) ; Čermáková, Klára (referee)
This bachelor thesis aims to economic integration of Europe. In the first part, it focuses on issues of stages of economic integration. The second part is dedicated to Europen Monetary union, its advantages and disadvantages. The next part is dealing with history and development of EU, CEFTA, EFTA, BAFTA. In final part, we use gravity model of international trade to analyze influence of each mentioned integrated group. Panel dataset consists of 27 776 observations of 23 years (1993-2015). Our results are consistent with other researchers, that are dealing with this issues. But some differences have been found. Preferential trading areas increases international trade, but the EMU coefficient is negative. Later on, we compare calculated potential exports of the czech republic to real exports to neighboring countries.
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Deflace - skutečný problém k řešení nebo nevyhnutelný důsledek globalizace?
Mudra, Martin ; Žamberský, Pavel (advisor) ; Villaverde, José (referee)
The aim of this paper is to examine the striking inverse co-movement of decreasing inflation rates and increasing degree of globalization in developed economies during the current wave of globalization beginning in the 1980s. Our analysis stands on theoretical identification of channels through which globalization affects inflation in developed economies and the role of monetary policy in the process. Econometric estimation of the impact of advancing globalization on the rate of inflation carried out on a sample of high-income OECD countries over the years 1980 - 2013 supports our hypothesis that advancing globalization has a significant negative impact on the rate of inflation in advanced economies.
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Legal aspects of economic integration of the European Union and the Eurasian Economic Union
Pestereva, Yelizaveta ; Grmelová, Nicole (advisor) ; Valenta, Petr (referee)
This thesis is devoted to the analysis of two major unions- the European Union and the Eurasian Economic Union (EAEU). The aim of this work is to compare single stages of their integration process with an emphasis on how the experience of EU has influenced the integration process of the EAHU. The first chapter describes the history of the European union with regards to legal and institutional aspects. This part also examines treaties of the EU signed at each step of integration. The second chapter is dedicated to the integration processes in the countries of the former Soviet Union which led to creation of the EAHU in 2015. The third chapter provides a comparison of the previously described processes in two regions, emphasizing simularities and evaluating the prospects of cooperation between the unions.
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Didactical Processing of the Curriculum of Economic Integration and European Union for Business Academies
Kolářová, Sandra ; Králová, Alena (advisor) ; Berková, Kateřina (referee)
The Master Thesis deals with the problem of didactical processing of the curriculum of economic integration and European Union for business academies. The main goal of this work is to bring useful output which should make the process of teaching this topic easier for teachers. The work is divided into two parts. The theoretical part is devoted to analyzing law regulations and educational programs which should lead to defining necessary requirements for teaching this topic. The practical part builds on the theoretical outcome. A theoretical presentation of the topic of economic integration and European Union is presented at the beginning of the practical part. Afterwards, the practical part focuses on creating a database of questions and tasks for practicing and evaluating students knowledge of this topic. In addition, results of a questionnaire research are presented afterwards. The research was conducted among the teachers and students of Karlínská Business Academy in Prague 8 who received the output of this work. The work is finished with a conclusion connected with a recommendation which was gained during the process of creating this Master Thesis.
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Sources of Asymmetric Shocks: The Exchange Rate or Other Culprits?
Skořepa, Michal ; Komárek, Luboš
We analyze and quantify the determinants of asymmetric shocks showing up in the form of medium-term real exchange rate (RER) changes. First, we discuss sources of asymmetric shocks causing exchange rate variability and the role of the RER as a shock generator. Second, we use data for 21 advanced and late-transition economies to gauge the extent to which medium-term bilateral real exchange rate variability can be explained by various fundamental factors. Using Bayesian model averaging, we find that out of 22 factors under consideration, four types of dissimilarities within a given pair of economies are likely to be included in the true model: dissimilarities as regards (i) financial development, (ii) per capita income growth, (iii) central bank independence, and (iv) the structure of the economy. A regression based on these four factors indicates that these factors explain about one third of the behavior of the three-year RER variability for the whole sample and almost half of the behavior of the three-year RER variability for the RERs involving specifically the euro. The remaining part of the total variability represents an estimate of the influence of the exchange rate market itself (together with the influence of fundamental price level or nominal exchange rate determinants not captured by the regressors used).
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The Impact of the Ongoing European Debt Crises on the Economic Integration of European Union
Klusáková, Petra ; Čajka, Radek (advisor) ; Melcher, Ota (referee)
Based on the set criteria the aim of this bachelor thesis is to verify the statement that european debt crisis means weakening of european endeavor of economic integration. Using convergence of inflation rate, exchange rate volatility, convergence of public finances, trade and integration openess, integration of financial markets, convergence of long-term interest rates, convergence of income and measuring integration with indices, this work compares the level of economic integration before the outbreak of the debt crisis and in its course. Next aim is to assess the measures implemented by EU as a reaction to the crisis in terms of deepening/weakening integration effort. The emphasis is put on its long-term sustainability and efficiency.
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Formation of a free trade area between EU and South Korea and its impact on the czech car industry
Juha, Jan ; Černá, Iveta (advisor) ; Čajka, Radek (referee)
This bachelor thesis deals with issues of the free trade area between EU and South Korea including theoretical basis of a possibility of regionalism within the frame of exceptions to WTO rules. The thesis concentrates on specific indicators of foreign trade of EU, South Korea and the Czech Republic and compares them mutually. In the introduction there is a theoretical framework of individual economic integrations and EU primary law that enables EU to conclude agreements with third countries. This thesis also focuses on the content and negotiation of the Free trade agreement between EU and South Korea. Following chapters deal with the comparison of individual figures reported in foreign trade and car industry, with an emphasis on the comparison of a period before the implementation of the Free trade agreement and after it. Finally, this thesis contains evaluation of the current functioning of the Free trade agreement and its possible changes.
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Coordination Incentives in Cross-Border Macroprudential Regulation
Derviz, Alexis ; Seidler, Jakub
When national financial sector regulators need to mutually harmonize macroprudential policy decisions, imperfections of cross-border information exchange may undermine fair cooperation. Attempts to overcome the effects of informational distortions by delegating macroprudential policy to a supranational body are also likely to entail welfare losses due to informational inefficiencies. We study the tradeoff between macroprudential policy autonomy and centralization by means of a signaling game of imperfect information played by two national regulators. The model concentrates on informational frictions in an environment with otherwise fully aligned preferences. We show that even in the absence of evident conflicting goals, the non-transferable nature of some regulatory information creates misreporting incentives. Reporting accuracy is a part of a broader problem of strategic advantage-seeking by the national regulators. Therefore, crossborder coordination mechanisms, centralized or not, that limit strategic behavior are preferable to those allowing its full deployment. The results are applicable to systemic risk management by international organizations, including the relevant EU institutions.
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Analýzy stupně ekonomické sladěnosti České republiky s eurozónou 2005
Česká národní banka
Soubor analýz sladěnosti české ekonomiky s ekonomikou eurozóny je proto rozdělen do dvou základních skupin podle typu otázky, na kterou se snaží nalézt odpověď. Část „Cyklická a strukturální sladěnost“ vypovídá o velikosti rizika asymetrických šoků v české ekonomice vůči eurozóně a tedy rizika, že jednotná měnová politika by byla pro českou ekonomiku výrazně suboptimální. Část „Přizpůsobovací mechanismy“ odpovídá na otázku, do jaké míry by byla česká ekonomika sama schopna tlumit dopady případných asymetrických šoků prostřednictvím vlastních přizpůsobovacích mechanismů.
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