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Gravity model and efficiency of trade between China and EU countries: Visegrad group, Germany, Austria
Papoušek, Radan ; Benáček, Vladimír (advisor) ; Janský, Petr (referee)
Bibliographic note Papoušek Radan. Gravity model and efficiency of trade between China and EU countries: Visegrad group, Germany, Austria. Praha 2017. 87 p. Master's thesis (Mgr.) Charles University in Prague, Faculty of Social Sciences, Institute of Eco- nomic Studies. Supervisor: doc. Ing. Vladimír Benáček CSc. Character count: 115 210 Abstract The thesis analyzes bilateral trade between China and Visegrad group (V4), Austria, and Germany. I use panel data of 23 countries across 1995-2015 to esti- mate gravity model. I compare the countries among themselves (time-series view) and analyze the development of the crucial variables employed in the model (cross- sectional view). Further, I estimate efficiency scores based on stochastic frontier analysis (SFA). Connecting the findings from all three perspectives provides com- prehensive picture of the trade relations of the given countries with China. The thesis reveals that accession to EU was beneficial for trade between V4 and China. Global value chains (GVCs) also help to intensify the trade exchange between the European countries and China. I find that Austria and Germany exhibit higher effi- ciency scores for their exports mainly due to better positions in global value chains. V4's trade balance with China is very sensitive to the decisions of the international...
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Impact of the Great Recession on the European banking sector: The stochastic frontier approach
Obořil, Josef ; Havránková, Zuzana (advisor) ; Havránek, Tomáš (referee)
This thesis investigates the impact of the Great Recession on cost efficiency of panel data of 4291 banks of the eurozone in the years 2003 - 2010, using the stochastic frontier approach. The main finding is that recession in Europe has a positive impact on cost efficiency; however, there was a decline already connected with the outbreak of the Great Recession in the US. Secondly, significant determinants of cost efficiency in the eurozone are total assets, total business, interest margin, and equity, however its significance changes over time. Moreover, there were significant differences found in cost efficiency among eurozone countries and among bank types and types of ownership. Thirdly, through comparison to the Czech Republic we found that monetary policy stabilizes the impact of the crisis on cost efficiency. Finally, features of most cost-efficient and least cost-efficient banks were documented. Result of the investigation is that total business is the major difference between them. 1
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