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Economic analysis of voidability in the new civil code
Michálek, Jakub ; Dušek, Libor (advisor) ; Pekárek, Štěpán (referee)
This paper makes an economic analysis of juridical acts and contracts voidability under the new Czech civil code (Act no. 89/2012 Coll.) with focus on differences between absolute and relative voidability. The essence of the analysis is to estimate and evaluate the impact of the civil code on subjects' behaviour before and after entering into a contract, in particular their motivation to void the contract, and the costs imposed upon the parties under the contractual relationship. Outcomes of the analysis show that voidability lowers utility and creates incentives for opportunistic behaviour. Furthermore, we show that in some cases, voidability can be justified as economically effective means of preserving legitimate interests of one of the parties, in those cases, relative voidability should be preferred, however. The conclusions of this paper can contribute a new perspective on law during interpretation and application.
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Comparison of economic development in Czech Republic and Slovak Republic after the EU entry (2004-2016)
Kossakowski, Lukáš ; Peľak, Branislav (advisor) ; Pekárek, Štěpán (referee)
In 2004 Czech and Slovak Republic enter the European Union along with another eight states as part of the biggest enlargement to date. For all the states, there starts very difficult time of integration and catching-up process. This bachelor's thesis focuses particularly on Czech and Slovak Republic. The main factors of economic development are the different initial economic levels in those countries, which had a strong influence on speed of the folowing convergence of these states to EU. Also the eurozone entry of Slovaks, which results in different impact of eurozone crisis on each state. The last factor, for example the striking difference in unemployment rate between those states. The Slovak Republic did not catch-up with Czech Republic in this rate for the whole period. The thesis brings current information and new look on integration of both states to EU, on their economic growth and development and determines the most important factors of this development.
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MARKET STRUCTURE OF BANKING SECTORS THE EU COUNTRIES 2000-2015
Stříbrský, Ondřej ; Pekárek, Štěpán (advisor) ; Štěpánek, Pavel (referee)
Thesis is focusing on complex comparative analysis of banking sector of countries in European union, because there is tendency to integrate financial markets, but one of the prerequisites to integration is homogeneity of these markets. Thesis pursue defining of substance of financial markets, it is explaining conditions of monetary policy and giving a report on regulation and supervision. Thesis is introducing pillars of concept for integration of financial markets in outline also. Thesis is illustrating variedness using complex comparative analysis of selected indicators of single banking sectors in European union.
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Comparison of the Independence of Central Banks in Countries of Visegrad Group
Kubinčiaková, Petra ; Pekárek, Štěpán (advisor) ; Štěpánek, Pavel (referee)
The aim of the Bachelor thesis is to determine the independence of central banks of Visagrad Group by the analysis of major economic and political factors and based on the results to compare the degree of independence of central banks with emphasis on the development from the transformation. The work includes analysis of the certain central banks and their historical and political development with the emphasis on the change in the level of independence in the context of legislative changes and their level of independence compared using Bade Parkin Index, Grilli Masciandaro Tabellini index, Cukierman Index and Loungani Sheets Index.
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Analysis of Latvia way out of economic crisis in 2008 - 2010
Štefánik, Adam ; Jílek, Josef (advisor) ; Pekárek, Štěpán (referee)
This thesis is aimed to analyze the impact of economic crisis in Latvia which was carried out in 2008-2010. Concurentelly the first part of the study emhasizes on claryfying the causes of the emergence of the economic crisis. The following part is focused on description of the reasons why particularly the way out of crisis throuhg internal devaluation was chosen and used. The actual negotiations on assistance from IMF and implemented fiscal consolidation are incorporated in this section of the thesis as well. The final part of the study beyond analyzing impacts of economic crisis analyzes demographic trends in Latvia. The comparison of external devaluation, which took place in Iceland, and internal devaluation that was implemented in Latvia is essential. Implemented savings measures within the internal devaluation achieved their targets and Latvia quickly emerged from the crisis and since 2011 to 2014 its GDP was continually growing. However, the worst problem which negatively affected Latvia seemed to be adverse demographic development which causes the fact that the country has to face the high rate of emigration, low birth rate and population aging.
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The impact of liberalization e-communications on competition in selected EU countries between 1990 and 2013
Mračková, Lenka ; Ševčíková, Michaela (advisor) ; Pekárek, Štěpán (referee)
This thesis aims to evaluate the impact of liberalization on competition in the electronic communications market in selected European Union countries (the UK, Denmark, Finland, Italy, the Czech and Slovak Republics). The theoretical part provides an overview of basic concepts and characteristics of the electronic communications market and selected regulatory measures which aim to gradually liberalize the market. The practical part follows a growing number of virtual operators in individual countries and evaluates their impact on the indicators of competition (average price per minute, average revenue per user, voice traffic). Finally, the thesis summarizes the results in individual countries and concludes that countries with virtual operators achieve better results (on average) in those examined indicators (for end customers) than countries without virtual operators.
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Vliv těžby ropy na norskou ekonomiku
Malkovský, Michal ; Doležal, Ondřej (advisor) ; Pekárek, Štěpán (referee)
Norway serves as a unique example of a developed country whose economy is dominated by export of natural resources. Thanks to its large petroleum reserves Norway has become one of the richest countries in the world. This thesis examines how the country has coped with its transformation and if it has avoided the so-called resource curse. It deals with the effects of the oil industry on the other sectors of the economy as well as on Norwegians' wellbeing. As the revenue from the petroleum production has grown, the state has implemented number of economic policies with the aim to utilize it in favour of the weakened industries and the society as a whole. So far, the oil industry has brought Norway prosperity thanks to sound governance and fitting policies. The question is whether the measures are sufficient to tackle both the decreasing production and prices of oil while maintaining the advantage the country has gained.
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Identification and Analysis of the Impacts of the Economic Crisis on Chosen Countries of Africa (Nigeria and Malawi) and Latin America (Brazil and Belize) between 2007-2014
Kašlík, Jan ; Jílek, Josef (advisor) ; Pekárek, Štěpán (referee)
This thesis studies the identification and analysis of the impact of the latest economic crisis of 2008 on selected countries of the world with the purpose of identifying the relevance of channels through which the financial and economic crisis has spread to these countries. The thesis focuses on two regions of the world: Africa and Latin America. In both of these regions two countries are chosen to be analyzed more closely. These are Nigeria and Malawi for Africa, Brazil for South America and Belize for Central America. The possible channels of transmission of the crisis were identified to be private capital flows, international trade and commodity prices, remittances and international aid. In the analysis of the chosen countries, it was identified that the most important channels were international trade, commodity prices and capital flows. On the other hand the least impactful channels were remittances and international aid. These were rather stable during the crisis and in the case of aid even played a countercyclical role.
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Is banking union suitable reaction on recent financial crisis?
Pekárek, Štěpán ; Vondráček, Jan (advisor) ; Ševčíková, Michaela (referee)
In reaction on the financial crisis 2007-2009 was introduced by the European Union a concept of banking union that should prevent similar destabilization of financial markets and readjust supervisory and regulatory mechanisms to reality of the European banking sector. The aim of the master thesis was to assess the concept of banking union as a suitable reaction on current state of the financial sector. The thesis includes historical discourse on banking regulation with an emphasis on institutional framework and requirements on banks. It introduces individual pillars of banking union -- Single Supervisory Mechanism, Single Resolution Mechanism and Single-rule Book. The comparative analysis of selected indicators of each individual Eurozone banking sector proved significant disparities. Based on the proven heterogeneity of banking sectors and institutional shortcomings of the banking union the conclusion was reached, that operation of single supervision and regulation can lead to adverse effects either on banking markets or on economies of member states and therefore it is rendered as an unsuitable reaction on current developments of the European financial markets.
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Heterogenous economic positions of eurozone members and common policy of ECB
Pekárek, Štěpán ; Pfeifer, Lukáš (advisor) ; Urban, Luděk (referee)
One of the core economic questions of present Europe is european debt crisis. This work focuses on analysis of situation of the Economic and Monetary Union of the EU using Taylor rule model. Outcome of the analysis is confirmation of hypotesis about a heterogeneity among member states concerning monetary policy. Optimal interest rates of individual states according to Taylor rule are not homogeneous and diverge from interest rate of European Central Bank. This signifies an heterogeneity in demands on common monetary policy. There are two groups of countries identified according to the extent of heterogeneity - periphery and core countries. Further this work builds up on the findings of model and discusses in depth their connections with current problems of monetary union. There are chosen three main areas: credit expansion, public finance and single currency.
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