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Sophistication of European Union's Exports
Benešová, Šárka ; Janský, Petr (advisor) ; Semerák, Vilém (referee)
The aim of this thesis is to provide the assessment of trade-quality relationship for European Union. This thesis is beneficial as it answers the question if quality substantively affects traded volume and economic development in EU. Further, it should be helpful to decision making procedure concerning international trade as it identifies exported product characteristics which can lead to faster economic growth. This thesis verifies whether export sophistication positively influences traded volume in 27 members of the EU (Luxembourg is excluded due to limits in data) in year 2013. The most recent innovations in quality measurement and estimation technique, the quality index and two stages of gravity model of international trade are applied in this thesis to be the most accurate and up-to-date as possible. This thesis confirms that sophistication in EU presents significant factor of products and the rise in quality helps to more intensive trade and can result in faster economic growth. The result was checked for possible biases in two specifications, in single country and industry level estimations. The importance of quality for trade was supported in all these concretizations.
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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 foreign direct investment inflows to China: A Gravity Model Approach
Řezáč, Michal ; Semerák, Vilém (advisor) ; Břízová, Pavla (referee)
The main ambition of this thesis is the analysis of factors determining Chinese foreign direct investment (FDI) inflows with special focus on evaluating of the role of Chinese institutional framework in this process. Empirical part of the thesis employs random effects method as the main tool for estimation of FDI gravity model. The data set consists of observations of 189 source countries over the 1995-2011 period. The results suggest relatively low sensitivity of the source countries to the institutional factors. Besides the traditional FDI determinants such as gravity variables or cultural ties, the quality of property rights protection, tax burden imposed by government, and investment flow restrictions are found out to be important factors of Chinese FDI inflows. Powered by TCPDF (www.tcpdf.org)
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Determinants of Austrian International Trade: Econometric Analysis Based on the Gravity Model
Davidová, Lucie ; Benáček, Vladimír (advisor) ; Hrbek, Pavel (referee)
The purpose of this thesis is to examine Austrian foreign trade and estimate this country's export function. The analysis is based on the gravity model in trade in log-log form, augmented by additional variables (adjacency, REER, institutional indices, etc.). Our panel dataset consists of 3396 observations of Austrian exports to 211 countries over the period of 1995-2011. First, we examine main export partners and SITC articles and we come to a conclusion that Austria is heavily oriented to Germany and SITC 7 (machinery and transport equipment). We employ FE and RE as estimation techniques and distinguish between them according to the Hausman test. We emphasise that panel data structure does matter and estimate the gravity equation twice - once as 17 cross sections and then as 211 time series. The most important determinants appear to be domestic and partner's GDP, bilateral distance, adjacency and a country being landlocked. Subsequently, we give different techniques to deal with zero and missing observations, and calculate relative trade potential realisation for year 2011. Most of the top-ten export partners seem to be over their potential.
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Modeling spatial interactions on the example of the regional cities
Zelenka, Jaroslav ; Marada, Miroslav (advisor) ; Chmelík, Jakub (referee)
Management and planning of transportation is becoming more important in terms of continuously growing intensity of spatial interactions, which are still mostly realized through transport networks. That's why we can deal with this specific problem of transportation geography using for example spatial interactions modeling. The general aim of the thesis is modeling of spatial interactions and their subsequent comparison with real flows by using calibration in order to predicate the future value of flows taking the planned changes in the transport network in consideration. The main tool used to achieve the goal of the thesis is the gravity model which was applied on the example of regional capitals in the Czech Republic. Based on accomplishments we may say, that centers with lower significance of monitored relations are characterized by further location towards most centers, small number of inhabitants, low intensity of model interactions and lower values of transport intensities with neighboring centers. With the center growth itself, its range of interactions with other centers grows as well. Key Words: spatial interactions modeling, gravity model, model interaction, transport intensity, regional capitals
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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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Significant factors of international trade of the Czech Republic with the selected agricultural commodities
Kočí, Martin ; Rumánková, Lenka (advisor) ; Kateřina, Kateřina (referee)
The thesis deals with identifying and quantifying the factors affecting the export of agricultural commodities to the neighboring states of the Czech Republic from 1993 to 2013. The theoretical part is described in detail international trade theory and econometric analysis. In the practical part they are declared elected variables and with the help of the econometric analysis using software Gretl are assessed different models for neighboring States, the Czech Republic and subsequently economic, statistical and econometric verified. Subsequently, these models are evaluated in terms of usability and the individual variables is described by their strength influence on exports of agricultural commodities to neighboring countries.
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International Trade of Guatemala and the EU with Bananas
Chytilová, Zdenka ; Rumánková, Lenka (advisor) ; Kateřina, Kateřina (referee)
The main goal of this thesis is to evaluate two-way trade flows in goods between Guatemala and the European Union, more precisely the import of Guatemalan bananas to the European Union during the period from 2001 to 2009. The thesis focuses on creating a gravity model for the banana trade flows. The exogenous variables in the model are GDP of the EU, GDP of Guatemala, distance and exchange rate. The main goal is achieved by the partial analyses, such as trend analyse of chosen exogenous variables. Two gravity models are assembled: a linear gravity model and a power gravity model. For both variations, there are the verifications as well as the prognosis for the 3 following periods. The results of the research show that a power gravity model is the one more suitable for following the trade flows in bananas between Guatemala and the European Union. The main contribution of this thesis is an establishment of a functional gravity model that could be use in order to follow various trade flows in one commodity between two countries.
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Analysis of the Impact of Common Currency on the International Trade within the Member Countries of the European Union
Křapáček, Tomáš ; Chytilová, Helena (advisor) ; Mirvald, Michal (referee)
The aim of this thesis is to confirm and consequently quantify the impact of common currency on the size of bilateral trade flows within the member countries of the European Union with the help of gravity model of international trade. The hypothesis of anticipated positive effect was confirmed, whereas performed regression analysis has provided constant estimations of impact of the euro on the size of international trade, which - assuming ceteris paribus - ranged in the interval from 13.6 to 16.3%. Data set tracked the flow of goods of 378 business partners in the period between 2001-2014 providing a very detailed analysis in this specific area, which, according to my knowledge, is missing in the current EU space. At the same time the so-called Lindner's hypothesis was confirmed. This hypothesis together with a new theory of trade helped to identify a model that speaks in favor of monopolistic competition and exchanges with differentiated products.
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Retail availability in the Vysočina region
BOUZKOVÁ, Renata
This bachelor thesis deals with retail availability in the Vysočina region. Hypermarkets were chosen as retail units. There are 14 hypermarkets in Vysočina and they are operated by three companies: AHOLD Czech Republic, a.s., Kaufland Czech Republic, v.o.s. and Tesco Stores ČR, a.s. The main target is to define the most optimal locations for these hypermarkets and compare it with the current existing locations. Key term definition as retail, gravity models, geographic information system and spatial analysis are in the first part of the project. The practical part of the project is about the various methods of how to determine the retail availability. This is realized by application of Thiessens polygons, packaging zones in hypermarkets (buffers), service zones modeling using network analysis tools in the Network Analyst and application of Huff's gravity model. It is important to get experience with the user environment of software ArcGIS, which has been used for analyzes and after that for maps visualization. Based on the results are recommended possible solutions how to improve the future configuration of the retail network.
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