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Impact of increasing returns to scale and imperfect competition on international trade in automotive industry: Czech republic - Germany intra-industry trade
Tomo, Ján ; Semerák, Vilém (advisor) ; Vukelić, Tatjana (referee)
This paper analyzes the impact of increasing returns to scale and imperfect competition in international trade with a focus on the automotive industry and trade between the Czech Republic and Germany in this sector . Because increasing returns to scale can not exist in perfect competition, they promote the differentiation of products and manufacturers attempt to differentiate their products from the others and get their share in international trade. This gives rise to intra-industry trade, where countries trade in similar goods that may differ either in quality or in completely different characteristics. These into detail analyzed theoretical bases I try to apply to a case study of mutual intra-industry trade between Czech Republic and Germany with a focus on the automotive industry, which makes up about a quarter of the Czech Republic industrial output, accounts for approximately ten percent of the gross domestic product, while exports of road vehicles represent about 17% of total exports. Germany as a major trading partner of the Czech Republic and the world's number one superpower in exports of machinery and transport equipment, imports a substantial part of the production of the Czech automotive industry and also exports its own products of the industry to the Czech Republic. This work aims to analyze...
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Evaluation of Effects of "Cash for Clunkers"-like programs on car markets and macroeconomic situation
Fiebig, Florian ; Semerák, Vilém (advisor) ; Červinka, Michal (referee)
Bachelor's Thesis Proposal Institute of Economic Studies Faculty of Social Sciences Charles University in Prague Author Florian Fiebig Supervisor Mgr. Ing. Vilém Semerák PhD. Proposed topic: The Impact of German policy, cash for clunkers, on the Czech market in regards to price level and output. Topic characteristics After the financial crisis in 2007-08, governments all over the world tried using several policies in order to promote growth and stability for their economies. On July 1, 2009, the USA launched its policy "Car Allowance Rebate System (CARS)", commonly known as "Cash for clunkers." It was a program designed to boost car sales, by giving the US residents an economic incentive swap their old and economic inefficient cars for brand new models that are more fuel efficient as well as produce less CO2. In the same year, Germany tried to promote growth and stability using the same policy/program. However, this policy did not just had an impact on the German economy, but its neighbors as well. In addition to that, it is interesting to find out if this policy was beneficial to implement or rather harming the economy even further. Although several papers conducted research on the effects of the cash-for-clunkers policy, I will focus on the effects that the German policy had on the Czech economy with...
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Evaluating China's Presence in South America
Mariaca, Abril Valeria ; Daza Aramayo, Lourdes (advisor) ; Krausz Hladká, Malvína (referee)
CHARLES UNIVERSITY IN PRAGUE FACULTY OF SOCIAL SCIENCES Institute of Political Studies Master Thesis 2020 Abril V. Mariaca CHARLES UNIVERSITY IN PRAGUE FACULTY OF SOCIAL SCIENCES Institute of Political Studies Abril V. Mariaca Evaluating China's Presence in South America Master Thesis Prague 2020 Author: Abril V. Mariaca Supervisor: Prof. Ing. Lourdes Daza Aramayo, PhD. Academic Year: 2019/2020 Abstract China is poised to become Latin America's largest trading partner and primary influence due to the steady rising of deals, economic financing, investments, and cultural exchanges implemented by China in the region. As such, China has used different tactics to ensure that it will continue to exert influence and gain access to strategic energy assets in the region. This thesis analyzes how Chinese engagement and presence has impacted South America's export basket. Consequently, China's presence has positioned Latin America back into a world of primary product dependency, limiting the development of high value-added exports, and adding consequences such as environmental and social conflicts across the region. The final section recommends proposals on how the region can better respond to and invest in the relationship, so that both China and Latin America can benefit from what is now an asymmetric relationship.
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Mexico's Trade Policy During the Pena Nieto Administration
Ferrara Torres, Geovanna ; Kozák, Kryštof (advisor) ; Benáček, Vladimír (referee)
Mexico's Trade Policy During The Pe Kryštof Kozák, Ph.D. Despite the efforts of trading with other countries, there is still a dominant economic dependence on the United States due to the NAFTA agreement. The master thesis studies Mexico's trade policy and its effects on trade during the Peña Nieto administration with particular attention paid to how the government has tried to diversify trade. A descriptive analysis is used with research in exports, imports and foreign direct investment.
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Evaluation of Effects of "Cash for Clunkers"-like programs on car markets and macroeconomic situation
Fiebig, Florian ; Semerák, Vilém (advisor) ; Červinka, Michal (referee)
Bachelor's Thesis Proposal Institute of Economic Studies Faculty of Social Sciences Charles University in Prague Author Florian Fiebig Supervisor Mgr. Ing. Vilém Semerák PhD. Proposed topic: The Impact of German policy, cash for clunkers, on the Czech market in regards to price level and output. Topic characteristics After the financial crisis in 2007-08, governments all over the world tried using several policies in order to promote growth and stability for their economies. On July 1, 2009, the USA launched its policy "Car Allowance Rebate System (CARS)", commonly known as "Cash for clunkers." It was a program designed to boost car sales, by giving the US residents an economic incentive swap their old and economic inefficient cars for brand new models that are more fuel efficient as well as produce less CO2. In the same year, Germany tried to promote growth and stability using the same policy/program. However, this policy did not just had an impact on the German economy, but its neighbors as well. In addition to that, it is interesting to find out if this policy was beneficial to implement or rather harming the economy even further. Although several papers conducted research on the effects of the cash-for-clunkers policy, I will focus on the effects that the German policy had on the Czech economy with...
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Effect of CNB's Monetary Intervention on Czech Exports to Germany
Krejčí, Tadeáš ; Šopov, Boril (advisor) ; Svačina, David (referee)
The primary interest of the thesis consists in impact of the Czech National Bank's monetary intervention on the volumes of Czech exports to Germany. To determine the significance of the potential casual effect, a Vector Autoregressive (VAR) model is constructed based on economic introspection and previous findings of other authors, to be subsequently estimated using the lucid method of least squares. Based on this procedure, we find evidence supporting the positive causal effect at hand. The results also confirm the presence of a structural break into periods before and after the initiation of controlled float regime. Furthermore, indications of casual effects are encountered in cases of other macroeconomic variables, such as German exports, supporting the reasoning in earlier works relating to this topic. JEL Classification E50, E51, E58, C51, C53 Keywords ForEx intervention, exports determination factors, foreign reserves, monetary policy Author's e-mail teddy.krejci@gmail.com Supervisor's e-mail boril.sopov@gmail.com
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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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Impact of increasing returns to scale and imperfect competition on international trade in automotive industry: Czech republic - Germany intra-industry trade
Tomo, Ján ; Semerák, Vilém (advisor) ; Vukelić, Tatjana (referee)
This paper analyzes the impact of increasing returns to scale and imperfect competition in international trade with a focus on the automotive industry and trade between the Czech Republic and Germany in this sector . Because increasing returns to scale can not exist in perfect competition, they promote the differentiation of products and manufacturers attempt to differentiate their products from the others and get their share in international trade. This gives rise to intra-industry trade, where countries trade in similar goods that may differ either in quality or in completely different characteristics. These into detail analyzed theoretical bases I try to apply to a case study of mutual intra-industry trade between Czech Republic and Germany with a focus on the automotive industry, which makes up about a quarter of the Czech Republic industrial output, accounts for approximately ten percent of the gross domestic product, while exports of road vehicles represent about 17% of total exports. Germany as a major trading partner of the Czech Republic and the world's number one superpower in exports of machinery and transport equipment, imports a substantial part of the production of the Czech automotive industry and also exports its own products of the industry to the Czech Republic. This work aims to analyze...
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Gravity Models Enlarged by Institutional Factors
Benešová, Šárka ; Benáček, Vladimír (advisor) ; Babin, Adrian (referee)
This thesis focuses on the gravity model of international trade that is enlarged by institutional factors. The aim is to concentrate on behaviour of Swiss exporter, based on cross-sectional and time series panel dataset. Swiss former foreign trade is analysed for this purpose. Afterwards, institutional factors are discussed in the first part of the thesis, how they can influence international trade and how they are affected by liberalisation. Further, the gravity model of international trade and development of the model is introduced. Second part of the thesis concentrates on the estimation of the gravity model for Swiss export by fixed and random effects. It was found out that institutional factors have impact on Swiss exports, especially from the static perspective while the subjects between countries are discriminated, which is modelled using cross-sectional data specification. The role of institutions substantially decreases in dynamic point of view.
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Macroeconomic factors and stock returns: Evidence from three Central and East European countries
Tung, Christopher ; Novák, Jiří (advisor) ; Dědek, Oldřich (referee)
This dissertation deals with the links between stock market returns and foreign exchange rates, industrial production and exports to Germany in three Central and East European countries (the Czech Republic, Hungary and Poland). The main questions addressed are: "Do macroeconomic factors related to foreign exchange rates and industrial production affect stock market returns in the Visegrad-3? And what is the impact of exports to Germany on those stock returns?" This analysis makes use of panel-data and the Arbitrage Pricing Theory (APT) to produce results. Firstly, foreign exchange rates are found to have a negative effect on stock returns. However the divergence in currency returns between the three countries means that the overall effect may be due to some factors that are not accounted for in this analysis. Secondly, there is a positive, but lagged, association between industrial production and stock returns. Thirdly, exports to Germany from the region are also found to have a positive impact on the stock returns of the Visegrad-3. Finally, there is divergence among the three countries with respect to the relationship between the macroeconomic factors and stock returns. Poland and Hungary are seen to exert a significant amount of influence over the region's stock markets.
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