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Mapping Institutional Development: An Analysis of Deposit Insurance in Argentina
Lane, Dustin ; Cahlík, Tomáš (advisor) ; Benáček, Vladimír (referee)
72 Abstract This work analyzes the institutional evolution of Argentinian deposit insurance and how this evolution could be explained using the theoretical frameworks proposed by works both Acemoglu and Robinson and the works of Levitsky and Murillo. The study highlights how institutions develop over time within frameworks of political changes. In addition, the work highlights the theoretical gap in new institutional economics in relation to analyzing the development and evolution of institutions through time. In response to this theoretical gap this work proposes the use of new model to conceptualize how institutions interact at multiple levels of the institutional hierarchy and how independent institutional developments can be mapped within the institutional hierarchy as they develop through time. In the end it is the hope that the conceptualized model presented is the first step in developing a more practical and useful model for new institutional economics as it relates to economic development and the construction and implementation of development policies.
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Local Development and Policies of Protectionism
Bělohradský, Aleš ; Benáček, Vladimír (advisor) ; Želinský, Tomáš (referee)
Economic situation in the Central Europe is to a big extent influenced by the disparities between core regions (mostly the capitals) and the rest. If the gap between cores and peripheries is still widening, local governments of peripheral regions must come up with policies to protect their economies from the globalised world. This basic statement is examined in this work using two different methods: regionalised input-output analysis (for Czech regions) trying to discover structural differences between regions and its implications, and NEG equilibrium simulation method examining agglomeration forces in the Central Europe and evaluating possible outcomes of protective policies in terms of NTBs (limiting the openness). The results confirm the agglomeration tendencies and suggest mainly two ways of effective policies: regional specialisation and investments into infrastructure, which would lower the transaction costs within the peripheral regions. NEG simulation method has serious limits due to the problematic calibration. Powered by TCPDF (www.tcpdf.org)
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Observing Globalization using the Gravity Model of Trade
Dobiáš, Adam ; Paulus, Michal (advisor) ; Benáček, Vladimír (referee)
This thesis investigates application of the gravity model of international trade on measuring a distance coefficient, which is known to be a proxy to globalization. This estimation is performed on a dataset containing information on EU 27 countries through the years 1996 to 2014. The presence of 10 post- communist countries enabled the author to perform the estimation on transformative economies, which had been isolated from their western trade partners for over 40 years. The division of the dataset into the Western and Eastern Blocs enabled measurement of convergence of the intra-blocs trade - the second goal of this thesis. This measurement was done through newly introduced intra-blocs trade variables that enabled measurements of both directions of trade. Through the application of this model on 10 sections, these measurements could be performed on single trade components. The analysis shows a substantial heterogeneity between single sections both in distance coefficient and inter-blocs trade. An increase in the level of globalization was observed in 9 out of 10 sections and convergence of some sections between the blocs was also found. Finally, globalization was found to progress with varying speed within single SITC sections during periods of economic crises. Powered by TCPDF (www.tcpdf.org)
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Institutional Determinants of Investment Inflows into Transitional Economies
Donu, Victoria ; Mertlík, Pavel (advisor) ; Benáček, Vladimír (referee)
This thesis investigates the relationship between institutional quality and the level of investment inflows into post-communist countries. I attempt to empirically verify the argument that institutional determinants are essential in explaining the variation in investment inflows into transition economies after the demise of socialism in the early 1990s. The role of institutions is assessed using Economic Freedom indices provided by the Heritage Foundation. Consequently, to investigate the progress of institutional quality in transition economies, I further employ indicators developed by the European Bank for Reconstruction and Development. Using a panel data set for 11 transition countries from 1993 to 2013, I conclude that the impact of institutional quality on investment inflows is not negligible, yet much weaker than suggested by the existing theoretical literature. Using a fixed-effects model framework in both regression benchmarks with metrics from the Heritage Foundation and the European Bank for Reconstruction and Development, respectively, I observe that the impact of institutional variables on the level of investment was less significant than expected. Moreover, macroeconomic fundamentals appear to always play a more substantial role than institutional factors. KEYWORDS: foreign direct...
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The Nature of Entrepreneurship: Society, the Individual and the Firm
Kapustin, Victor ; Benáček, Vladimír (advisor) ; Balcar, Petr (referee)
Entrepreneurship is often perceived as a crucial component of economic growth and social development. Studies into entrepreneurship inform policy design, thus the diverse understanding of entrepreneurship among scholars can create confusion in policy design. The current state of the field of entrepreneurial research is examined in order to identify the need for a universal definition of entrepreneurship. After a synthesis and analysis of prior research is conducted to identify the various links in perspectives, a new definition and framework is suggested. The resulting framework sees entrepreneurship as an autocatalytic process of creation of meaning and the consequent retention of said meaning in the structure of a new venture. The elements of this framework (autocatalytic process, creation of meaning, and retention in structure) can be assigned varying degrees of importance corresponding to differing perspectives, while simultaneously ensuring the presence of each element. The developed framework can be used to better inform the decisions of scholars and policy makers, due to the uncovering of the complex relationships between society, individuals and firms.
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Export Decision Support Model for the Czech Republic
Couceiro Vlasak, Carlos ; Mejstřík, Michal (advisor) ; Benáček, Vladimír (referee)
In this paper, an Export Decision Support Model applied to the Czech Republic is developed, with the aim of finding export opportunities. The model functions using a filtering process in which a stream of data composed of numerous socio-economic indicators representing the world trade is analysed. For their construction, an extensive literature review was developed relying strongly on a previous EDSM targeted as well for the Czech Republic, as at the moment no explicit rule exist describing its appropriate composition. Then, if a given market, determined by its associated matrix of indicators, fulfils the conditions of the model, then it is retrieved as an export opportunity. After the model construction, it is supplied with two streams of data, for 2010 and for 2014 and, the hypothesis that for both years the output is equal is evaluated. With the intention to infer if the constructed model needs periodical recalibrations for its appropriate use. Finally, a local sensitivity analysis is deployed uncovering the behaviour of the different parameters of the model, a novel approach not yet implemented in an EDSM tailor made for the Czech Republic. JEL Classification F10, F13, F23, M31 Keywords export opportunity, entrepreneurship, international marketing, sensitivity analysis, trade Author's e-mail...
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Iran and The United States relations in the context of the Nuclear Deal
Saïd, Alexane ; Benáček, Vladimír (advisor) ; Riegl, Martin (referee)
Alexane Said MASTER'S THESIS Iran and the United States' Relations in the Context of the Nuclear Deal Abstract _____________________________________________________________________________________________________ This study analyses the evolution of relations between Iran and the United States by applying the theories of realism, liberalism and the theoretical concept of strategic culture on their contest for power, control and sovereignty. From strategic partners to strategic enemies and back to pragmatic tolerance, both countries have maintained a troublesome relationship which entered a new era of cooperation with the implementation of the Nuclear Deal in January 2016. This deal is a geopolitical breakthrough that should improve the relations between the two countries as it is in both their strategic interests to collaborate. With sanctions removal and by choosing the diplomatic route, Iran can get access to a larger trade and investors' market which could help its economy tremendously and could be seen as an important international actor. Moreover, since the deal allows for the supervision and investigation of Iran's uranium facilities, this allows for greater transparency, profitable for the US and the international community. After the Nuclear Deal implementation, American and Iranian actions on the...
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Determinants of International Tourists Inflows: The case of China
Zang, Yu ; Dědek, Oldřich (advisor) ; Benáček, Vladimír (referee)
This study is aim to evaluate the effect of five factors on the amount of tourists arrivals to China in those countries who have most visitors. To apply empirical estimation, a balanced panel data based gravity equation is established, with 22 countries and 15 years period (1998 - 2002). Our main estimates conclude that GDP per capita has a positive impact on the amount of tourists, as well as population, whereas exchange rate and distance will deter the amounts of tourists. Unfortunately PPP conversion factor also has a positive impact but not as expected. The findings of this study will fill the gap of relative literatures for China and provide another evidence of gravity model.
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Transnational Corporations and the Strategies of Profitability by Administrative Ordering
Taghiyev, Samir ; Kemény, Irena (advisor) ; Benáček, Vladimír (referee)
The thesis describes the problem of TNC administrative ordering, tax performance from the point of financial efficiency, administrative burdens and taxation. The research will be focused on the background development of TNC and its internal organizational structure. The research will involve analysis of TNC, strategies and goals aiming to lower tax burdens, to avoid overregulation and to focus on the most efficient administrative ordering. Several case studies of major world's transnational corporations will be considered in order to analyze the practical aspects of TNCs' activities related to tax optimization methods. The practical analysis will be based on the theoretical findings drawn from bibliographic sources available in public access.
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Various Estimation Techniques of the Gravity Model of Trade
Davidová, Lucie ; Benáček, Vladimír (advisor) ; Havránek, Tomáš (referee)
This diploma thesis deals with alternative estimation possibilities of the gravity model in trade. We provide the reader with a synthetic methodological overview of the technical problems with the estimation of gravity equations. Consequently, we test for the heterogeneity of data sets used in gravity models of trade which leads us to a conclusion that behavioural patterns of exporters and importers built in the datasets are very complicated and a single generalized specification of gravity equation can lead to bias in estimates and/or to similarly generalized conclusions that hide important robust idiosyncrasies in behavior present in some subsamples of economic agents. Both the theory of estimation techniques and dataset heterogeneity are applied in the empirical part estimating Austria's export function.
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