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Analysis of the Effects of Sri Lankan 1977 External Economic Liberalization Policy on Foreign Direct Investment
Tennakoon, Senya Nimsari ; Semerák, Vilém (advisor) ; Benáček, Vladimír (referee)
The Synthetic Control Method (SCM) provides the comparative case-study evaluation on Sri Lanka and other 18 countries in this research paper. The external economic liberalization policy implemented in 1977 has significant changes in the Inward Foreign Direct Investments in the state. Focusing on the 18 countries, the methodology is being carried out comparing the Inward Foreign Direct Investment towards the level of countries without similar pre- treatment characteristics and liberalization policy effect. The final results show that there is a positive impact of the inward foreign direct investments towards the economic growth through the external economic liberalization policy. Additionally, we identified global and domestic economic shocks affecting the late 20th century international trade and foreign direct investments. The methodology performed successfully through a gradual increase in foreign direct investments in the results which was developed towards the policy suggestions.
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Research on the transformation of Russian industrial structure
Xun, Chuanli ; Svoboda, Karel (advisor) ; Radošević, Slavo (referee) ; Semerák, Vilém (referee)
Over the three decades, the Russian Federation government introduced a string of industrial policies responsible for industrial structure change from a planned state-run economy to the market-based one and the return of command control structures under President Putin. It grew out into four phases of economic growth from 1991 - the post-communist decline between 1991 and 1999, the reconstructive phase between 2000 and 2007, the recession between 2008 and 2010, and the stagnation phase from 2010 to the present (Mau, 2016; Ahrend and Tompson, 2005; Aris and Tkachev, 2019). Consequently, this study investigates Russia's industrial structure transformation through these four phases of economic growth. While the Russian government implemented industrial policies annually for short, medium and long- term development, the four phases of economic changes domicile their impacts. In this respect, the study will compare the shifts in industrial structures during these four phases of Russian economic growth by comparing their industrial structure upgrade index. In this respect, the study focuses on realising Russia's structural adjustments together with transformation methods over the three decades of its existence. It includes showing how the Russian economy experienced growth (exponential, slow, retarded)...
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Intra-industry trade and human capital endowment: a case of EU-CEE trade
Zeng, Jiayi ; Semerák, Vilém (advisor) ; Merrino, Serena (referee) ; Jeřábek, Petr (referee)
To assess the effect of human capital endowment on intra-industry trade between CEE countries and the EU, this paper used trading data from 2000-2019 in the machinery sector between the Visegrad and Germany as the representative. Meanwhile, this paper used secondary and tertiary educational attainments separately as the proxy for human capital endowment and included other factors influencing intra-industry trade. Before the econometric regression, a descriptive statistical analysis was carried out, and we recognized that the intra-industry trade between the CEE countries and the EU is of vertical nature. According to regression results, we found that the domestic market size and the difference in economic mass had a positive relationship with the intra-industry trade of CEE countries. Similarly, the GDP per capita was positively correlated to intra-industry trade in this area. In addition, geographical distance and contiguity levied significant impacts on intra-industry trade of CEE countries. However, the effect of EU membership was nonsignificant in our sample. More importantly, secondary and tertiary educational attainments had opposite influences on intra- industry trade between CEE countries and the EU, which implies that although they have high educational attainments, the CEE countries...
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Inward FDI and Industrial Structure Optimization and Upgrading: Empirical Evidence from Central and East European EU Countries
Yao, Jinli ; Svoboda, Karel (advisor) ; Campos, Nauro Ferreira (referee) ; Semerák, Vilém (referee)
The main aim of this paper is to study whether the inward FDI will optimize and upgrade of industrial structure in Central and East European EU countries. If yes, which industry's inward FDI has a better effect on industrial structure optimization and upgrading? I established the influence mechanism as the analysis framework of the whole paper. Then I gathered a dataset of 11 CEE EU countries from 2000 to 2019 and established the industrial structure upgrading index and rationalization index. The empirical results showed that IFDI will optimize industrial structure in the short term and will upgrade industrial structure in the long term. IFDI from the secondary industry has the best effect on industrial structure optimization and upgrading. Therefore, this paper suggests that CEE EU countries introduce FDI, and emphasizes that they had better cooperate with foreign capital that helpful for the high-end development of the manufacturing industry in CEE EU countries. At the same time, they should promote the development of their own organization and management in order to absorb high technology and achieve technological catch-up.
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A study on the impact of EU's eastward expansion on carbon emissions of Central and Eastern European member states-- taking imported waste resources as an example
Meng, Kai ; Semerák, Vilém (advisor) ; Akdogan, Idil (referee) ; Szobi, Pavel (referee)
The main purpose of this paper is to take the carbon emissions from import and export wastes as an example to study the impact of Central and Eastern European countries on their carbon emissions after joining the European Union. First of all, this paper introduces the theories and hypotheses related to trade and environment, and then clarifies the influence mechanism of EU eastward expansion on waste carbon emissions of CEE member states, including the impact of EU eastward expansion on waste trade flows in CEE member states and the effects of trade on carbon emissions. Based on this, it is concluded that: (1) joining the EU increases the carbon emissions of imported wastes from the new Central and Eastern European member states; (2) the industrial structure has a positive impact on environmental carbon emissions; (3) the number of labor force significantly promotes environmental carbon emissions, that is, the higher the number of labor force, the more carbon emissions; (4) the level of economic development has an inhibitory effect on carbon emissions, but not significantly. Finally, the full text is summarized and policy recommendations are put forward.
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Deterrents of capital flight: Evidence from post-Soviet countries
Simachyova, Valeriya ; Janský, Petr (advisor) ; Semerák, Vilém (referee)
This master thesis studies the effect of government debt, corporate taxation, and inflation rate on the trade misreporting gap. Furthermore, this thesis attempted to replicate and expand the analysis of Kellenberg and Levinson (2019) on the subset of post-Soviet countries on a greater timespan to identify whether a generalized conclusion is applicable for all the developing countries. The data was collected from numerous resources (UN Comtrade, CEPII, World bank, GCR, De Sousa (2012)), with the final sample consisting of 127 countries where the leading trading partner was one of the countries from the post-Soviet union in the timespan between 2002 and 2020. It was found that for the exporting country, the government debt is positively associated with the trade gap, while there is no significant impact of corporate taxes and inflation. On the contrary, for the importer, the smaller the government debt, the larger the trade misreporting gap; the higher corporate taxation has a positive association with the illicit behavior, which can be explained by the incentive to misreport traded value; the inflation rate does not affect the trade reporting gap. Change of the data sample neither significantly affected trade gap distribution nor affected the conclusions of the earlier research.
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Alleged Chinese Currency manipulation: the case of Yuan in relation to the USD from 2005 to 2020
Belon, Sander ; Semerák, Vilém (advisor) ; Macháček, Vít (referee)
Currency manipulation has been an increasingly infamous studied topic espe- cially since the US accusation of Chinese currency manipulation in the sum- mer of 2019. Such accusations raise the question as to what extend the Chi- nese RMB exchange rate might be considered misaligned. This paper seeks to identify grounds of the accusation of currency manipulation by applying the Behavioural Equilibrium Exchange Rate Model (BEER) to indicate possi- ble misalignment. Annual data from 1980 to 2019 is employed for which this paper will emphasize on the period of 2005 to 2019. The utilised Johansen co-integration test and the Vector Error Correction Model (VECM) suggest a consistent undervaluation of the RMB exchange rate from 1980 to 2019. Such undervaluation ranges from -4.623% to -2.016% with a mean undervaluation from 2005 to 2019 of -2.464%. JEL Classification F12, F21, F23, H25, H71, H87 Keywords Behavioural Equilibrium Exchange Rate, Currency Manipulation, Vector Error Correction Model, China, Renminbi Title Alleged Chinese currency manipulation: the case of the Yuan in relation to the USD from 2005 to 2020. Author's e-mail sander@belon.be Supervisor's e-mail vilem.semerak@fsv.cuni.cz rozmezí od -4,623% do -2,016% s průměrným podhodnocením od roku 2005 do roku 2019 ve výši -2,464%.
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The Role of Institutional Change in the Turkish Economic Growth Under AKP Governance
Gulaliyev, Algushad ; Semerák, Vilém (advisor) ; Benáček, Vladimír (referee)
This paper analyses how the institutional change in Turkey during AKP governance impacted the economic development of the country. It will first examine some of the main characteristics and positive impact of Turkey's institutional reforms toward democratization between 2002-2007. In the following section, the AKP's reversal from the implemented reforms and its authoritarian shift will be discussed to evaluate the deterioration of both political and economic institutions in the period between 2007-2017. Building on these discussions and through contrasting the institutional changes in these two periods, it will be examined whether the change in the institutions impacted the economic performance of Turkey between 2002-2017. To analyse the economic performance of Turkey and the quality of its economic growth in these years, the changes in Total Factor Productivity Growth, the export share of technologically advanced products, and FDI inflow to Turkey will be examined.
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