|
|
Fundamental analysis of the Czech crown
Vejvalka, David ; Durčáková, Jaroslava (advisor) ; Mandel, Martin (referee)
The bachelor thesis is focused on development of exchange rate between Czech crown American dollar and euro respectively during 1993 and 2017. Special attention is paid on nominal exchange rate, real effective exchange rate and purchasing power parity exchange rate. Analysis is done in the context of exchange rate systems, which are described in the theoretical part of the thesis. In the last chapter, there is executed econometric test regarding reciprocal dependency between gross domestic product and nominal exchange rates.
|
|
|
Exchange rate risk management in the corporate sector
Strákoš, Michal ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
The bachelor thesis focuses on the issue of exchange rate risk and the possibilities of its management in the corporate sphere. The aim of the thesis is to analyze implications of the Czech national bank's exchange rate commitment for the financial management of the export-oriented company on the hypothetical data. The benefit of the thesis is the comparison of different hedging opportunities offered by Czech banks and also the possibilities and impacts of hedging under different foreign exchange arrangements on the financial management in the microsphere.
|
|
|
Comparison of monetary and economic development od Venezuela and Chile
Kubus, Filip ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
The aim od this thesis is to review an impact of political system on economic and monetary development of the country. I decided to choose Venezuela and Chile as model countries. The reason is their similar development in second half of twentieth century, while political systems in both countries were pushed into extreme. Thanks to that we can better see impact of far-right and liberalization and far-left and absolute control on economy. In my thesis I am describing the period since sixties to present in Chile and since nineties to present in Venezuela. The thesis is devided into three chapters. In first chapter I am describing social development of both countries since the begining of their independence with light description of economic situation. In second chapter I am describing economic and monetary development of Chile in followed period. The chapter is chronologically developed into subheads according to political systems in that period. In the last chapter I am describing Venezuela since the time, when the similarity with chilean scenario begins. Subheads are devided according to breaking points of socialistic establishment. In the end I recapitulate development of Chile and comapre it with development of Venezuela. I am describing the similarities and differences.
|
|
|
Exchange rate and development of foreign trade of Russian Federation
Popov, Nestor ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
In this bachelor thesis evolution of exchange rate and foreign trade of Russia in 1994-2014 is discussed. The work brings information about evolution of exchange rate policy of Russia in this period. In the practical part problems of bad diversification of Russia export and dependence analysis of exchange rate RUB/USD and oil world prices are discused. Also monetary crisis from 2014 in Russia and its impact on exchange ratio and foreign trade is analyzed.
|
|
|
Exchange rate risk management
Koutník, Jiří ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
Bachelor thesis is focused on the foreign exchange rate risk and the possibility of its minimization. The theoretical part describes the methods of external and internal hedging. The first practical part describes products offered by major banks on the Czech market. The second practical part is devoted to the specific example of export and import companies, which found themselves in the unsecured and secured situations due to the external methods of forward contracts and currency options. Everything is set in the period before and after the interventions of the CNB in 2013, in order to answer, whether it was possible for export and import companies to secure themselves before the intervention, so they can profit from the change of exchange rate.
|
|
|
The role of the foreign exchange rate regime in selected countries
Matoušek, David ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
The bachelor thesis deals with consequences of choosing an exchange rate regime and if the exchange rate regime has an influence for development of economy. The first section describes types of exchange rate regimes and factors which influence the choice of the exchange rate regime. The second section characterizes the countries chosen from the viewpoint of observed variables (GDP, inflation, balance of current account). Third section contains analysis which is based on data provided from the Eurostat and the OECD. It has been proven that choice of an exchange rate regime does not always have underlying influence on economy in some countries.
|
|
|
The exchange rate system and the exchange rate development of the Kazakh tenge
Pak, Irina ; Mandel, Martin (advisor) ; Durčáková, Jaroslava (referee)
In my bachelor thesis we consider the exchange rate system in Kazakhstan and mainly deal with the basic historical stages of the exchange rate development. In this paper we make balance of payments analysis and empirical analysis of the exchange rate development in the country during 1993 - 2015. Our analysis describes the dependence of the nominal effective and the bilateral exchange rates KZT/USD on the balance of payments, the inflation rate, the gross domestic product and oil price. Empirical analysis, based on correlation and regression analysis, confirms our theoretical hypotheses. Because exchange rate depends on oil price development, tenge can be included among so-called commodity currencies. Also we confirm the expected relationships between the balance of payments, domestic inflation, gross domestic product and the exchange rate. In the last part of my work, we describe the influence of the exchange rate development on the national economy. In this thesis, we take into consideration the main goals of the central bank, current issues and its actions in order to prevent the occurrence of new economic crises.
|
|
|
Role of Renminbi in the International Monetary System
Le, Thuy Linh ; Durčáková, Jaroslava (advisor) ; Šíma, Ondřej (referee)
The bachelor thesis focuses on Chinese currency, renminbi, which has been much talked about since the outburst of the financial crisis in 2008, especially in regard with its potential reserve currency status. The main goal of this thesis is to analyze the renminbis internationalization process and its role in the international monetary system. The first part is mainly dedicated to theoretical concepts of foreign exchange reserves, currency internationalization and international reserve currency. In the second half, I firstly analyze the development of global foreign exchange reserves and its currency composition, take a closer look at the process of renminbi internationalization and changes undertaken within the country. Last chapter gives us an insight into different aspects of renminbis current path to reserve currency status. Despite the countrys active approach to internationalization, the current position of renminbi does not reflect the significance of Chinese economy in the world. It is further needed to liberalize capital controls and develop domestic financial system. But there is an effect of exogenous factors, beyond governments control, that could greatly undermine the whole process.
|
|
|
Benefits and costs of adoption a common European currency in small open economy (example of Slovakia)
Herchl, Peter ; Durčáková, Jaroslava (advisor) ; Čermáková, Daniela (referee)
The master thesis focuses on the influence of common European currency in Slovakia. Slovakia represents small transitive economy with high degree of openness and long-term experience from participation in common monetary union. The aim of the thesis is to analyse observed and potential benefits and costs that are emerging from adoption of common European currency in Slovakia. The analysis is based not only on quantified determinants, but also on the basis of observed alternative evaluation criteria, which are providing complex picture of macroeconomic development and performance of Slovak economy in comparison with other countries of Eurozone and European Union. Analyses that are used in the thesis are based on theoretical findings that are described in the first chapter. This chapter deals with criteria defined by the theory of optimal monetary unions, real convergence, but also with the most significant benefits and costs defined by the European Commission and economic theory. The thesis deals with the monetary politics in Slovakia before and after 2009 with focus on loss of autonomous monetary policy as the most significant cost of entry to European Monetary Union and also with analysis of the nominal convergence criteria that are needed to accept in case of adopting common European currency.
|
|
|
Relations between balance of payments and exchange rate in selected economies
Novák, Petr ; Durčáková, Jaroslava (advisor) ; Čermáková, Daniela (referee)
The main goals of this dissertation are to analyze balance of payments and foreign exchange rate and to examine mutual relations between these two concepts. The first part describes basic terms related to international finance. These terms are structure of balance of payments, foreign exchange rate and exchange rate regimes. The second part presents four selected foreign economics (Japan, South Africa, Paraguay, Dominican republic) which will be subdue to the analysis. The third and final part is devoted to the regression analysis. Relations between balance of payments and foreign exchange rate are analyzed by the method of ordinary least squares. Necessary data was gained from the IMF server.
|
guest ::
