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The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2013). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2013. 74 p. Rigorous thesis (PhDr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Rigorous thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present rigorous thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. Keywords competitiveness, euro adoption,...
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An analysis of the determinants influencing the probability of cancellation for projects receiving EU funding
Nový, Petr ; Martišková, Monika (advisor) ; Patáková, Magdalena (referee)
This thesis approaches the problem of the cancelled projects receiving EU funding as another reference variable through which the absorption capacity of the Czech Republic may be measured. The determinants influencing the probability of projects cancellation have so far been only modestly described. Therefore, an attempt to examine some determinants influencing the probability of cancellation for projects receiving EU funding is made, first, by summarizing and describing trends of cancelled projects in the programming period 2007 - 2013 and, second, by econometric inference trying to find the possible determinants. The data shows the ever increasing trend of cancelled projects and large share of the Operational Program Enterprise and Innovations on all cancelled projects. It was found that it is the size of the paid amount for projects that determines negatively the probability of projects cancellation most significantly. Apart from that, the age of a firm and number of employees also play a significant positive role. The year 2008 when crisis broke out, is also a determining factor.
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Scoreboard Indicators as a Measure of Macroeconomic Imbalances
Toušková, Daniela ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
This thesis examined an ability of the scoreboard indicators created by the European Commission to capture macroeconomic imbalances expressed as the changes of GDP. We conducted an empirical analysis for panel data of 27 EU countries in the 1997-2011 period. We adopted three different dynamic panel data models based on the three estimators: the Arrelano- Bond, the Arrelano-Bover and the corrected LSDV estimator. Our results suggest that despite some bad characteristics of our dataset we can conclude that some of the indicators such as 3- year average of current account balance or percentage change in export market shares seem to be inadequate for measuring the imbalances. Moreover, the indicators were proved not to be able to predict an occurrence of imbalances.
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Female labour market in Slovakia
Vinšová, Katarína ; Martišková, Monika (advisor) ; Lešanovská, Jitka (referee)
This bachelor thesis summarises position of women in labour market in Slovakia. As a result of various prejudices and stereotypes women bear the so called double burden, meaning their professional and family life. In this thesis we describe the development of women's labour market in the world, in the European Union and also in Slovakia. We focus on individual indicators of their difficult position and later their comparison with the men's labour market. We analyse different forms of government support, especially their difficult position considering their responsibilities at home. Moreover we apply to women mainly as mothers. By research analysis of Institute for Public Affairs we will show you the significant differences between different indicators of their economic status. Keywords female labour market, Slovakia, mother, stereotypes, state promotion
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Impact of the REACH, the Regulation of the EU, on the Czech Chemical Industry
Kortová, Kateřina ; Hollmannová, Monika (advisor) ; Martišková, Monika (referee)
In June 2007 the new European law REACH - Regulation, Evaluation, Authorization and Restriction of Chemicals, regulating chemicals and chemical sector, entered into force. This legislative influences the whole manufacturing industry and especially the chemical industry. Bachelor thesis "Impact of the REACH, the Chemical Regulation of the EU, on the Czech Chemical Industry" deals with effects of the implementation of the REACH legislation on the companies operating in the Czech Republic. There are three parts included in this thesis: The historical overview of the development of the chemical sector, concise explanation of the REACH and the fees and charges problem connected with REACH regulation and the analysis of the financial impacts on firms, primarily differences between the groups of the companies according to their sizes.
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Evaluation of Macroeconomic forecasting accuracy
Polák, Zdeněk ; Skuhrovec, Jiří (advisor) ; Martišková, Monika (referee)
This thesis deals with real GDP growth forecasting. It includes comparison of predictive performance of OECD, IMF, European Commission, and Ministry of Finance of the Czech Republic in period between 2000 and 2010. Forecast errors for Central European countries are analyzed and compared to forecast errors for G7 countries, which has never been done before. Organizations are benchmarked based on summary statistics, comparison with nave forecast, and directional and sign accuracy. Results of the analysis show that forecasts for expansion period are more accurate than forecasts for recession period. Furthermore, hypothesis that forecasts for G7 countries are on average more accurate than forecasts for Central European countries is not confirmed. This is particularly interesting for the Ministry of Finance of the Czech Republic, which did not outperform other organizations in forecasts for the Czech Republic and apparently has no comparative advantage in predicting economic development of the Czech Republic.
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Pro-cyclicality of Fiscal Policy
Málek, Jan ; Zápal, Jan (advisor) ; Martišková, Monika (referee)
There is large evidence that fiscal policy in many countries tends to pro-cyclicality. This phenomenon is often observed in emerging countries but might also be present in developed ones. It is unclear why so many countries follow apparently sub-optimal fiscal policy. First part of this thesis reviews existing literature concerning pro-cyclical behavior of fiscal policy. It shows in which countries and under which circumstances pro-cyclicality has been present. Furthermore, models explaining pro-cyclicality of fiscal policy are introduced. The remainder of this thesis surveys fiscal policy making in Europe. We show that after subtraction of automatic stabilizers from government budget and considering only discretionary part of fiscal policy, pro-cyclicality of fiscal policy is also present.
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Church-state settlement: Financial aspects
Linhartová, Petra ; Gutiérrez Chvalkovská, Jana (advisor) ; Martišková, Monika (referee)
Church-state settlement: Financial aspects Abstract New draft law on Church-state settlement is presented mainly as an additional burden on the state budget of the Czech Republic. My work evaluates the proposed settlement from the perspective of both actors, besides the state view also the view of the Church is considered. The theoretical part focuses on the status of the Church in the Czech Republic and the historical development of its financing, in its conclusion can be found a summary of the resolution of a property settlement in the Visegrad Group countries. The practical part is divided into two chapters: the first one compares the impacts of the different options of property settlement on the state budget, the second chapter focuses on the investment opportunities of the Church and religious communities. The main objective of the analytical part of my thesis is the evaluation of the return on investments on financial markets that would ensure a permanent source of financing for the Church and religious communities after 2043, which should be the year when all state financing of the Church ends. My analysis shows that the Church cannot get needed revenues in the long run of 60 years so it must find an additional source of income.
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Government Export Support: A Comparative Study of European Post-Communist Countries
Pšenáková, Lucia ; Janda, Karel (advisor) ; Martišková, Monika (referee)
To the best of our knowledge, this bachelor thesis is the first one to analyse official state promotion in all four Visegrad countries. Similar development of those economies in transition period after the fall of Communism is described; their extremely fast and sucessful reorientation towards Western markets is emphasized. Nowadays each government in the region implements its own export strategy. We could observe a mutual understanding of importance of state export support, nevertheless, very different priority territories for export. Further in the thesis we analyse export credit agencies - organisa- tions promoting export projects under more favourable conditions with state guarantees. Firstly we compare theoretical advantages and disadvantages of different forms of export credit agencies. Then we apply data from inter- national trade on gravity equation and we conclude that the most effective type of export credit agency in Visegrad Four region is clearly an organisa- tion operating in the form of an insurance company. Other forms such as a bank and an institution providing both insurance and financing facilities are insufficiently effective. We show that smaller distance and higher GDP also increase the amount of export.
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