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Stability of the Banking Sector: Dependence Beyond Correlation
Fiala, Tomáš ; Šopov, Boril (advisor) ; Zelený, Tomáš (referee)
We analyze systemic risk of banks in countries of the so-called Visegrad Group (V4). Particularly, we focus on the relationship between a foreign mother and its local subsidiary which we compare to the relationship between subsidiaries in a given V4 country. We find that the systemic risk between two subsidiaries is higher than that between a mother and the respective subsidiary. In our analysis, we employ a technique stemming from a nonparametric multivariate Extreme Value Theory which is distribution free. Thus, our results are robust to heavy tails. Keywords Extreme value theory, systemic risk, financial stability, Visegrad Group, mother-subsidiary re- altionship Author's e-mail tomas.fiala@gjn.cz Supervisor's e-mail boril.sopov@gmail.com
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Integration of the Visegrad Group Countries into the EU and NATO. Cooperation or Individual Approach?
Brychta, Martin ; Jeřábek, Martin (advisor) ; Karásek, Tomáš (referee)
Graduation thesis tries to explore, if the Visegrad Group Countries, i.e. the Czech Republic, Hungary, Poland and Slovakia cooperated together during their effort to acces the North Atlantic Treaty Organisation and the European Union. The thesis is divided into four parts. First part analyses the first steps of Visegrad Cooperation, second part describes the integration process into NATO. The third part is related to the integration with EU. The last part of the thesis sketches the continuation of Visegrad cooperation after accession into EU in 2004. The theory of international regimes was chosen as a theoretical approach to Visegrad Cooperation. The thesis desribes the course of integration process and different forms of cooperation.
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Catching-up effect: analysis of chosen institutional factors and their influence on economic growth in the countries of the Visegrad Group in a period 2004 - 2014
Šincl, Jan ; Procházka, Pavel (advisor) ; Strejček, Ivo (referee)
This bachelor thesis examines the impact of catching up effect onto the Visegrad group countries in the period of 2004 to 2014 and the speed of their convergence to the economic level of the old member countries of EU. In the theoretical part the thesis focuses on the origin and development of both groups of countries as well as particular approaches to the economic growth itself, institutional economy and the catching-up effect. The main focus of the practical part is to perform a comparative analysis of five institutional factors with the aim to find out if the countries are getting closer or further to the level of EU 15 countries and what impact does it have on their economic development. This thesis results in statement, that on the macroeconomic level the entrace of the Visegrad group to the European Union positively affected their economic development a brought them closer to the level of EU 15.
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Analysis of the programming period 2007 - 2013 in V4 countries
HRONKOVÁ, Věra
The subject of this thesis is to analyse the disbursement of funds the European Union on the territory of Visegrad countries within the programming period 2007 2013. Primarily the work deals how much was been reached from expected financial allocation resources and the resulting drawdown of funds divided into areas in which the finance income in countries and whether there really to fulfilled the commitments made by the country in the operational programs at the beginning of the programming period 2007 2013.
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Comparation analisys of the Visegrad groups states development of the public sector debt from 2004 to 2014
Vyčítal, David ; Ševčíková, Michaela (advisor) ; Klement, Josef (referee)
This work focuses on the analysis and comparison of the Visegrad groups states development of the public sector debt from 2004 to 2014. The subject of the theoretical part is the public debt which includes the public budget, deficit and public revenue and expenditure. The theoretical part further explains stability evaluation connected with credit rating, the Maastricht criteria and the Fiscal compact. The work concludes that the largest problem with economies of the Visegrad group has Hungary. The data is based on the significant impact on public debt have public deficits that arise due to mismanagement. The essential problem, namely Hungary, is the low stability of the economy, which significantly responds to global economic problems.
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Analysis of religiosity impact on the size of international trade of Visegrad Group countries
Mikolaj, Dávid ; Melzochová, Jitka (advisor) ; Babin, Jan (referee)
The Bachelor thesis is engaged in the analysis of the impact of religiosity on the quantity of international trade of Visegrad Group countries. The core hypothesis of thesis is the assumption that act of sharing the same religion belief affects the level of trust between business partners and hence the number of traded goods as well due to the same culture, traditions and background. This relationship is examined using a gravity model including religious variables, which is composed of panel data of 1995, 2000, 2005 and 2010. The analysis confirms the positive impact of Judaism, Islam and Buddhism, while Jewish culture proved to be the most important of the three. On the contrary, sharing the Catholic belief among trading partners has the negative effect on international trade. Neither Hindu nor Protestant religion plays vital role in business relationship. Further, thesis presents and confirms the significance of the infidels and the index of economic freedom in the issue of exports of the Visegrad Four.
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Economic relations between China and the Visegrad group
Gao, Wenbin ; Jiránková, Martina (advisor) ; Musiyenko, Svitlana (referee)
The aim of the thesis is to analyze the balance of trade and foreign direct investment between China and the Visegrad countries.The first chapter describes the formation and development of the Visegrad Group and China's economic reforms, which have fundamentally changed China and led it on the path to the market economy. It also analyzes the basic macroeconomic indicators of the Visegrad Four countries and China between the years 2009-2015 and predicts the development in 2016. The second chapter deals with the economic relations between China and the countries of the Visegrad Group in terms of trade and foreign direct investment.
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Comparison of the standard of living in the countries of Visegrad group in years 1989-2015
Horáková, Lucie ; Procházka, Pavel (advisor) ; Vebrová, Ludmila (referee)
The main aim of this bachelor thesis is to compare the standard of living in the countries of Visegrad group from 1989 until present. The text is divided into two parts- theoretical and analytical. At first the theoretical part refers to the term Visegrad group- what does it mean, why it was created, and what was the situation of its countries after the fall of the Communist regime in 1989. This part then continues with explaining the term standard of living and its selected means of measure from the economical and sociological point of view. The analytical part is then about the comparison itself. For each country there are graphs and tables that contain the variables used for the analysis that are explained at the end of each chapter. Every chapter also contains the factor analysis, that is used to show which of the variables were the most important for each country. The last chapter is comparison of all the countries.
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Pension systems of the Visegrad countries with the focus on 2nd and 3rd pillar.
Šiška, Matěj ; Bartůsková, Lucia (advisor) ; Vebrová, Ludmila (referee)
The first pillar of the pension system in the Czech Republic is loss-making in the long term. The population gets older which results in an increase of the pension budget deficit. The thesis elaborates that the population should no more depend on the government in pensionable age. The bachelor thesis further focuses on the analysis of the second and third pillar profitability as well as on analysis of to what extent the government should intervene in these pillars. The author provides comprehensive overview of pension systems in countries of the Visegrad Group, and reveals the correlation between their profitability and governmental interventions. Furthermore, the thesis compares attitude of particular governments towards the pension system pillars, and summarizes their advantages and drawbacks for the Czech population.
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