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How Common Currency Influences the Business Cycles in Central and East European Countries.
Wang, Yue ; Semerák, Vilém (advisor) ; Li, Yating (referee) ; Jeřábek, Petr (referee)
This paper investigates how the introduce of single currency influence on the synchronization of business cycles in Central Eastern European Countries. The Hodrick-Prescott filter is applied to extract the cyclical component of real GDP for fifteen European countries and the Vector Autoregression models are applied to further investigate the influence of fiscal policy on regional economies. A database of quarterly real GDP for business cycles and quarterly current account for fiscal variables for the period: 1995Q1-2019Q4 is constructed. The main results of the study can be summarized as follows. The establishment of Economy Monetary Union has significantly increased the level of co-movement across euro area member states. There is a high degree of synchronization of business cycles in core countries than periphery countries after the introduce of common currency. For CEEC-7 including non-Eurozone countries (Czech Republic, Hungary, Poland) and Eurozone countries (Estonia, Germany, Slovakia, Slovenia), clusters in correlation exist because their GDP reacts differently to the fiscal shocks especially after the global financial crisis and ongoing euro area crisis. Key words business cycle synchronization; Economic integration; Fiscal policy; VAR
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A comparison of Ukrainian economic migrants in Poland and the Czech Republic after 2014: networks, migration policies and integration indicators
Bondariev, Oleksandr ; Klípa, Ondřej (advisor) ; White, Anne (referee) ; Svoboda, Karel (referee)
1 Abstract After the Euromaidan revolution, Ukraine has faced an annexation of Crimea and the War of Donbas, with the subsequent economic crisis hurting the living standards of the population. It has led many to travel abroad, as economic migrants, to find better conditions for work and residence. Many Ukrainians started working in Poland and the Czech Republic, becoming the largest group of foreigners there. This dissertation examines the differences between Ukrainians working in those two countries after 2014. Initially, this research discovers theories of migration and integration indicators, identifying key topics to focus on. Those topics are migrants' networks, migration policies of host countries and two integration indicators (real estate participation and human capital). The results suggest that migrants' networks successfully enhance social and economic integration of migrants, with a language factor playing a crucial role. Furthermore, it is important to note social integration largely depends on the willingness to integrate, and it is not always the case. This dissertation shows that Polish migration policies treat Ukrainian economic migrants more favourably than Czech migration policies, providing special treatment and easier access to the labour markets. However, a path to receive a...
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Economic Integration of European Union and Latin America
ČABRÁDEK, Ondřej
My diploma thesis is focused on economic integration between European Union and Southern Common Market, Mercosur. The aim of my thesis is to analyze current relationship between those two parties, compare their treaties and discuss the pros and cons of Association Agreement between EU and Mercosur. The work is divided into two parts - theoretical and practical. In the theoretical part, there are defined basic terms, such as integration, common market, free trade area, custom union and so on. Treaties that led to the establishing of EU and Mercosur are described as well. In practical part there is analysis of current relationship between EU and Mercosur. Furthermore, there is comparison of treaties of both parties, their similarities and differences. Lastly, SWOT analysis of Association Agreement was conducted and discussed.
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Analysis of the Advantages and Disadvantages of the Euro Adoption
Fábera, Luboš ; Bartošová, Jitka (advisor) ; Bína, Vladislav (referee)
The main objective of the Masters thesis is the identification of advantages and disadvantages of the Euro currency adoption. The analysis is focused on the differences in development of the individual economic indicators before and after joining the eurozone as well as the European Union as an entity. The economic indicators used are in the form of gross domestic product, inflation rate, foreign direct investment, long term interest rate and international business trade. For the analysis itself, a vast variety of methods has been utilised within both Microsoft Excel and SAS Enterprise Guide. The analytic results do cover the required content and points to fulfil the main aims and objectives of the thesis and can thus be used as a baseline for the most common theoretic arguments for and against the euro adoption.
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EEC and CMEA in 1957-1973
Krejčová, Jana ; Svoboda, Karel (advisor) ; Lomíček, Jan (referee)
The relationship between the European Economic Community and the Council for Mutual Economic Assistance went through a major transformation between 1957 and 1973. This thesis argues that the institutional interactions between these two organizations were a logical consequence of their internal development. Both represented a regional economic integration and despite political and ideological differences they have been forced to establish a certain level of cooperation, due to the expanding contacts between the member states. After the signing of the Treaties of Rome, which founded EEC, CMEA refused to recognize de jure the existence of the Community and condemned it as a discriminatory capitalist organization. At the same time the Council passed reforms that were supposed to link its economies and strengthen the cohesion of the Eastern bloc. By adoption of the Statute of 1959, the CMEA established its internal structure and operating principles. The first success of the EEC, the pursuit of its own reforms and the UK application motivated CMEA to revise its attitude to the EEC for the first time. The Soviet leadership tried unsuccessfully to get through a supranational leadership of the CMEA - principle they criticized in the EEC for being discriminatory. After the appointment of de Gaulle as...
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Integration of Turkey into the European Union
Švec, Ondřej ; Glazar, Ondřej (advisor) ; Dingová, Vilma (referee)
Integration into the European Union is a chance for candidate countries to catch up with the average income level in the current member states. This study shows economic impact of Turkey's membership on foreign trade between EU countries and Turkey and also shows impact on EU budget. To gauge the effect of Turkey's accession the gravity model of trade was used. It has been estimated that the trade effect of membership implies 60% increase in trade volume. The dynamic model find out that shared EU membership could lead to 5% increase in trade every year for next ten years and it could represent 1% annual growth rate of Turkey's GDP. Economic impact of growth in EU exports to Turkey will be rather small, more important for current EU members are consequences of Turkey's integration on EU budget. The estimated cost of subsidies for Turkey lies between 0.09% and 0.23% of EU's GDP assuming current financial framework. The total subsidies will amount up to 5.5% of Turkish GDP. These results suggest that EU membership, particularly its effect on trade and EU budget, could lead to large economic gains for the new member states with some costs for current EU members.
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Economic integration in the EU : competitiveness and convergence
Novak, Elza ; Cahlík, Tomáš (advisor) ; Makarova, Svetlana (referee)
The EU's lagging economic growth and global competitiveness require the pro- motion of technological innovation, the key determinant of long term economic growth. On the other hand, increasing disparities among EU member states require the promotion of convergence as they may threaten the EU's economic feasibility and political viability. Cohesion policy has adopted the dual role for the promotion of EU global competitiveness and EU economic cohesion; concepts incompatible by nature. The objectives of Europe 2020, specifically the promotion of technological innovation through investment in R&D, are as- sessed in terms of their compatibility with the objectives of Cohesion policy, specifically the reduction of disparities within the EU. An analysis of conver- gence in the EU determines that both beta convergence and sigma convergence are taking place, although large disparities in GDP per capita persist. An em- pirical analysis of the relative effects on GDP per capita of investment in R&D and investment in human capital determines that investment in human capital plays a significant role. Thus, key policy focus areas that meet the objectives of both Europe 2020 and Cohesion policy include investment in human capital as well as purposive diffusion of technology within the EU and the distribution of the...
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Political and economic integration in the western hemisphere
Escobar, Renata ; Calda, Miloš (advisor) ; Raška, Francis (referee) ; Dvořáková, Vladimíra (referee)
The dissertation thesis focuses on political and economic integration in the Western Hemisphere. In the first part the paper compares two major regional trading blocs, North American Free Trade Agreement and Mercosur. Through the discourse and metaphor analysis shows differences between the respective blocs, as well as their objectives. Second part deals with US foreign policy in its historical context in relation to other nations within the region, and transformaton of this relationship into current policy of bilateral 4 free trade agreements. Discourse analysis of the key texts and revealed dominance metaphors suggest that the United States uses bilateral free trade agreements to maintain control over the region. Keywords USA, Mexico, Latin America, Western Hemisphere, NAFTA, Mercosur, bilateral free trade agreements, discourse analysis, metaphors, foreign policy, manifest destiny, integration
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Western orientation in Azerbaijan's foreign policy
Farajullayeva, Nigar Ali ; Žídková, Markéta (advisor) ; Aslan, Emil (referee)
The aim of this thesis is to study complex nature of the Azerbaijani Foreign policy and to analyze relations of Azerbaijan with other countries in regional and global context in order to determine which countries are more prioritized. The author concluded that the balanced Foreign policy is no longer pursued and its orientation is now changed towards West. The study had also determined the reasons behind the Western orientation. Thesis concluded that Azerbaijan pursues economic integration with the West as well as sustains political dominance in the South Caucasus region.
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Influence of Economic Crisis on The Integration of European Union
Bartušková, Hana ; Karpová, Eva (advisor) ; Němcová, Ingeborg (referee) ; Křelinová, Jana (referee) ; Kučerová, Zuzana (referee)
This thesis focuses on the changes in the European Union due to the economic crisis in 2008/2009. The thesis defines an integrational system of the European Union and the changes in the system that bring some changes to the economic integration of the European Union. The main research question is whether the economic crisis brings the deepening of the economic integration or some desintegration tendencies in the European Union. The main part is the analysis of the free movement of goods, services, people and capital on the single market in the European Union. With an accent on the analysis of the institutional integration in the European Union. The thesis looks into the connection between the instutional and real integration of the European Union and the economic situation in the member states.
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