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The Czech and Italian non-profit sector : different and therefore uncomparable systems
Novotná, Petra ; Cahlík, Tomáš (referee) ; Kameníček, Jiří (advisor)
Bachelor thesis The Czech and Italian Non-profit sector: Different and Therefore Uncomparable Systems offers an overview of the functioning of non-profit organizations in the Czech Republic and Italy. The main part is divided into two sections so each country is given a separate section. In the beginning is always summarized a historical development and events that most influenced the later development of the nonprofit sector. Next there are introduced types and forms of non-profit organizations, some of legislation arrangements and other basic information. In the analytical part I paid attention to various aspects of current affairs in particular sectors, i.e. new opportunities arising from the Czech accession to the EU or closer introduction of the main types of Italian non-profit organizations. Part of this section is also a general overview suggesting a relationship of local economies to their non-profit sectors. Finally, there is presented one selected Czech and Italian non-profit organization. I concluded my work with an unusual ending which explains the inability to compare the above mentioned sectors.
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Disruptive media technologies : theories and application to the Czech media environment
Kyjonková, Petra ; Cahlík, Tomáš (referee) ; Jirák, Jan (advisor)
Diploma thesis "Disruptive media technologies - theories and application to the Czech media environment" deals with a concept of disruptive technologies, which results from the economical model of creative destruction made by founder of innovation theories Joseph Alois Schumpter. Although he had described adverse impact on present market structure at the beginning of 20th century, media studies revealed them lately, precisely in the year 1995 in an economical model of another economist Clayton Christensen. In the late 20th century, with the evolution of the internet, first studies based on media corporations' trade model have investigate disruptive impact of new communication channels on the older ones. This diploma thesis transmits these analyses onto Czech media environment, which is still strongly affected by the transformation process started 20 years ago. It illustrates the influence of the whole transmutation on the innovation process and the reason why it is so necessary to examine it separately for all Post-communist countries. This work then discusses the impact of internet as a new sort of media on the market, specially analyzing the symbiosis of the internet version and the printed version of the Lidové noviny journal, and unfolds the weak points and the potentials of this co-existence, not only...
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An analysis on US subprime mortgage crisis : expansion and the burst of bubble
Yazicioglu, Gorkem ; Cahlík, Tomáš (referee) ; Dědek, Oldřich (advisor)
This thesis provides an analysis on the expansion and the burst phases of the 2007 subprime mortgage bubble, in two interrelated sections. The first part - called "Expansion of the bubble"-, analyzes the speculative investor behaviour of the US Real Estate Crisis and exhibits that before the crisis the asset prices such as Commercial Mortgage Backed Securities and Standard and Poor's 500 indexes showed statistical features which are not common among financial time series. Common stylized facts such volatility clustering and autocorrelation of absolute returns were tested for the years 1997-2010, using daily data on the index values. The results indicate that during bubble periods several of the stylized facts disappeared since investors did not respond as normal to the volatility events and price changes. Hence, I have suggested that irrational exuberance of investors during 2007 subprime mortgage crisis and other bubble periods can be detected by testing these stylized facts. In the second part,- called "The burst of Bubble" -, I showed that common macroeconomic risk factors can explain, to a very large extent, all types of mortgage's credit risk and I concluded that individual mortgages are possessing significant default correlation, especially subprime mortgage classes. Finally this thesis ends with...
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Convergence or Divergence: The Analysis of Economic Growth in the CIS Countries
Hakimov, Durbek ; Cahlík, Tomáš (advisor) ; Holub, Tomáš (referee)
This dissertation examines from a comparative perspective the growth experience for a sample of twelve countries of the former Soviet Union over the period from 1991 to 2008. Two meth- ods of econometric analysis are applied: cross-section regressions and dynamic panel data esti- mation techniques. The main focus of the study has been to empirically establish whether coun- tries in the region are converging or diverging in terms of their income per capita and to find important sources of cross-country differences which determine the shape of this process. I did not find statistically significant support for conditional convergence in any cross-section period. It is partly supported by the increased dispersion of per capita income levels during the sample period. Meanwhile, panel data fixed-effects and GMM methods provide strong support for con- ditional convergence hypothesis. The first-differenced GMM estimator indicates a rate of con- vergence of around 2 per cent a year, which is surprisingly similar to the standard cross-section findings in empirical literature. However, it could be the result of the cyclical behaviour of out- put during transition. In general, results indicate that structural transformation is not yet over in most of the countries. Therefore progress in market-oriented reforms and...
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Convergence across the four Central and Eastern European states: Panel Data Approaches
Akhmetov, Daniyar ; Gregor, Martin (advisor) ; Cahlík, Tomáš (referee)
The aim of the work is to analyze the convergence in the Czech Republic for the period of 1996- 2006. The paper is based primarily on the Barro and Sala-i-Martin's theories of convergence of sub-national territorial units. The regression results proved assumptions to be realistic. The main model concentrates on a panel data approach that captures the extent to which new transport infrastructure influences within-nation regional convergence. This paper developed a regional approach to evaluate the impact of transport infrastructure, human capital and migration in four Central and Eastern European countries - the Czech Republic, Hungary, Poland and the Slovak Republic. The aim is to present an overview of the convergence process of the Czech regions between 1996 and 2006. A neoclassical growth model is used as a framework to study convergence across the 14 administrative units of the Czech Republic. Data on gross value added per capita are exploited. 1
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Three essays on the inflation targeting regime in Egypt
Ibrahim, Ibrahim Lofti Awad ; Šmídková, Kateřina (advisor) ; Holub, Tomáš (referee) ; Cahlík, Tomáš (referee)
This dissertation comprises three empirical essays on adopting the inflation targeting regime in Egypt. It sets out to answer the following questions: (i) Can the central bank of Egypt (CBE) achieve the goal of price stability under the currently applied monetary targeting regime? (ii) Is the legal independence granted to the CBE under the latest legislation promulgated in 2005 factual? (iii) Does the CBE maintain an implicit target for the FX rate? Does the CBE follow an independent monetary policy? Which variables have priority in the reaction function of the CBE? How far can foreign economic shocks explain the behavior of real GDP and price level in the Egyptian economy compared with domestic economic shocks? And which monetary transmission mechanism channels play a dominant role in the Egyptian economy? The main conclusions of the study came as follows: (i) Neither the demand for money function nor the velocity of circulation of money is found stable in Egypt. Thus, the study concludes that the CBE cannot achieve price stability under the currently applied monetary targeting regime. (ii) The legal independence granted to the CBE under the latest legislation is not factual. (iii) By estimating the monetary transmission mechanisms (MTMs) using a structural VAR model the conclusions of the study were as...
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Subsidy competition for spillovers for inward FDI
Havránek, Tomáš ; Benáček, Vladimír (referee) ; Cahlík, Tomáš (advisor)
Chapter 2: Meta-Analysis of Intra-Industry FDI Spillovers: Updated Evidence The present paper conducts a meta-analysis of literature on intra-industry productivity spillovers from foreign direct investment. Apart from the traditional approach, robust meta-regression, random effects model, and probit meta-regression are employed. Results of combined significance analysis are mixed but it is apparent that papers published in leading academic journals tend to report rather insignificant results. Our findings suggest that cross-sectional and industry-level studies are likely to find relatively strong spillover effects, and that the choice of proxy for foreign presence is important. The pattern, however, seems to weaken over time. Contrary to previous studies, evidence for publication bias was not detected. JEL Classification C42, D62, F21, F23, O3 Keywords Meta-analysis, Productivity spillovers, Technology transfer, Foreign direct investment, Multinational corporations Chapter 3: On the Determinants of Foreign Direct Investment Incentives This paper examines the microeconomic motivation of governments to provide tax incentives for foreign direct investment. Author applies the classical models of oligopoly to subsidy competition, endogenousing investment incentives, but leaving tax rates exogenous....
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Subsidy competition for spillovers from inward foreign direct investment
Havránek, Tomáš ; Benáček, Vladimír (referee) ; Cahlík, Tomáš (advisor)
The first part conducts a meta-analysis of literature on intra-industry productivity spillovers from foreign direct investment. Apart from the traditional approach, robust meta-regression, random effects model, and probit meta-regression are employed. Results of combined significance analysis are mixed but it is apparent that papers published in leading academic journals tend to report rather insignificant results. Our findings suggest that cross-sectional and industry-level studies are likely to find relatively strong spillover effects, and that the choice of proxy for foreign presence is important. The pattern, however, seems to weaken over time. Contrary to previous studies, evidence for publication bias was not detected. The second part examines the microeconomic motivation of governments to provide tax incentives for foreign direct investment. The author applies the classical models of oligopoly to subsidy competition, endogenousing investment incentives, but leaving tax rates exogenous. According to the conventional wisdom, subsidy competition leads to overprovision of incentives. The results suggests that, in the oligopolistic framework, supranational coordination can either decrease or increase the supply of subsidies. Further, in the setting of subsidy regulation, the host country's corporate...
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Bilateral Economic Relations between Czech Republic and Vietnam, Situation and Solutions
Tran, Thanh Huong ; Cahlík, Tomáš (advisor) ; Jirsová, Pavlína (referee)
The bilateral economic relations between Czech Republic and Vietnam were established from very early time, during 1960s-70s under manner of communist partners. Both sides did obtain significant achievements in trade, labor export and development assistance before the collapse in Eastern Europe and the split of Czech Republic in 1993. After 1993, especially after the EU entry of Czech Republic, the relations have had many dramatic changes, both advantages and disadvantages challenging all respects of cooperation, including trade, FDI, ODA and labor export. Bilateral trade has been taken under new bilateral and multilateral agreements, increase but with slow growth until remarkable improvement from 2005. The export-import commodity structures have been still kept traditional. Trade balance is surplus for Vietnam and the difference becomes larger. In comparison with other partners, bilateral trade between two countries is modest and less competitiveness. The obtained results are not as equal as potentials and capacity. FDI between Czech Republic and Vietnam has been improved remarkably for recent years. The number and scale of FDI projects into Vietnam are increasing surprisingly .However, the efficiency of Czech FDI is very limited until now. By contrast, Vietnam is adding some new projects in Czech Republic...
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Households' saving in the Czech Republic within framework of life-cycle hypothesis
Keilová, Marie ; Schneider, Ondřej (advisor) ; Cahlík, Tomáš (referee)
I analyze saving in Czech Republic from microeconomic view as a saving behaviour of households. I analyze data of "family accounts" from year 2002 in order to be able to compare the results with Life- cycle Hypothesis. Main objective was to find out whether the households after retirement and very young households behave according to the implications of the "basic" Life-cycle Hypothesis. The result of this analyse finds households' behaviour non-compliant with this theory. I made an attempt to find the reasons for these differences. I suggest that saving behaviour of households is affected by strong bequest motive of elderly and some results indicate influence of liquidity constrains and precautionary motive of saving by very young households. Before the end I draw picture of basic structure of households saving. As these data are mostly not possible to derive from family accounts I use overview from Ministry of Finance and Czech National Bank. Powered by TCPDF (www.tcpdf.org)
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