National Repository of Grey Literature 3 records found  Search took 0.00 seconds. 
The Determinants of central banking transparency: An Empirical Analysis
Ulrich, Tomáš ; Horváth, Roman (advisor) ; Jeřábek, Jakub (referee)
This thesis examines the central banking transparency and financial stability communication. The main goal is to find the determinants of the updated Monetary policy transparency index and the index for financial stability trans- parency, which cover 110 countries during the period 2000-2011. We analyse the individual components of transparencies and perform regression models with the set of economic and political variables in order to find drivers of all aspects of transparency. As a basic observation we verified the increasing trend in both types of transparencies during last two decades. We found out that economi- cally well developed countries with flexible exchange rates, quality government and stable political institutions tend to be more open about their monetary policies. Moreover, high degree of monetary policy transparency and the occu- rance of past systemic banking crisis implies higher openness of central banks about financial stability issues. The drivers of Financial stability transparency index components display significant variations, especially variables like rule of law or past financial distress. It is concluded that financial stability trans- parency is still a young field of study and many central banks are still in the developing phase of learning. Keywords central banking,...
The Determinants of central banking transparency: An Empirical Analysis
Ulrich, Tomáš ; Horváth, Roman (advisor) ; Jeřábek, Jakub (referee)
This thesis examines the central banking transparency and financial stability communication. The main goal is to find the determinants of the updated Monetary policy transparency index and the index for financial stability trans- parency, which cover 110 countries during the period 2000-2011. We analyse the individual components of transparencies and perform regression models with the set of economic and political variables in order to find drivers of all aspects of transparency. As a basic observation we verified the increasing trend in both types of transparencies during last two decades. We found out that economi- cally well developed countries with flexible exchange rates, quality government and stable political institutions tend to be more open about their monetary policies. Moreover, high degree of monetary policy transparency and the occu- rance of past systemic banking crisis implies higher openness of central banks about financial stability issues. The drivers of Financial stability transparency index components display significant variations, especially variables like rule of law or past financial distress. It is concluded that financial stability trans- parency is still a young field of study and many central banks are still in the developing phase of learning. Keywords central banking,...
Factors influencing the origin and evolution of the tax havens
Ulrich, Tomáš ; Janský, Petr (advisor) ; Cingl, Lubomír (referee)
This thesis examines tax havens, specifically it searches for factors which influence the probability that a given country becomes tax haven. Nowadays there are roughly 40 tax havens all over the world. The main target of this thesis is to find out what effects does the demographic, economic and geographic indicators have on their ex- istence. By using the extensive dataset for the period of 6 years we illustrate the time development and possible trends. With the help of several standard regression methods we confirmed the already existing hypothesis that tax havens are inclined to be small and more affluent jurisdictions. Moreover, the results indicate that the quality of governance in tax havens is substantially higher than in other countries. This is not only a short-term phenomenon, it showed to be valid for a longer time period. The discovered outcomes are statistically significant and robust to the use of other relevant variables. Tax havens also scores much better on the measures of corruption than other countries. Our conclusions help to clarify the causes why certain jurisdictions become tax havens, and at the same time they provide recom- mendations for the concerning economic policy. Keywords tax haven, government index, probit model, regression analysis. 1

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