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The Dutch disease theory and its application to countries with independent monetary policy and members of monetary union
Fiala, Vojtěch ; Šíma, Ondřej (advisor) ; Dvořák, Michal (referee)
This diploma thesis aims to give a comprehensive picture of a phenomenon called The Dutch Disease whose symptoms had been increasing in many countries during the second half of the 20th century, especially in connection with mining. The first part deals with the detailed description of traditional economic theory and its later upgrades. In the second part, the Dutch Disease theory is applied to the member countries of the European Monetary Union and highlights the problems of asymmetric shocks, which may include among others the discovery of mineral resources. The third part then attempts to look at the recent European balance of payments crisis through the eyes of the Dutch Disease theory and to highlight a number of common symptoms.
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The impact of falling oil prices on economy of Russian federation in years 2006 - 2016
Sviták, Daniel ; Strejček, Ivo (advisor) ; Klement, Josef (referee)
The goal of this bachelor thesis is to analyze the impact of oil slumps on Russian federation between years 2006 and 2016 with special focus on the Dutch disease phenomenon and its reverse in times of low world oil prices. Dutch disease is a part of natural resource curse, which is characterized by lower economic performance of economies with natural resource abundance. The negative impact of low oil prices on Russian economy is showed by depreciation of ruble and lower state income, which is causing deepening of government budget deficits in 2009 and 2015. The basic assumption in case of the Dutch disease, de-industrialization of economy, is not satisifed. I deny the validity of the Dutch disease hypothesis in case of the Russian federation. Oil slumps did not have any significant influence on symptoms of the Dutch disease.
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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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Australia from the view of monetary policy in the context of singnificant changes in world economy
Fiala, Vojtěch ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
The Bachelor's Thesis aims to characterize the development of Australian economy since the turn of the past century when as a consequence of quick economic growth of the Asian region, the resource commodity prices , which had substantial impact on the Australian Terms of Trade, rapidly increased. The theoretical part is dedicated mainly to the Dutch Disease theory, which is often associated with that problem. Further, the development of the resource boom and its impact on the Australian dollar exchange rate, selected macroeconomic indicators and the ensuing structural changes in the economy, are analyzed. In the conclusion of the Thesis those changes are summarized and evaluated in relation to the theoretical part.
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International trade with uranium
Lešková, Tereza ; De Castro, Tereza (advisor) ; Machytka, Daniel (referee)
These thesis provide basic information about the uranium taking civilian and also military use into account. In this work, uranium market is being analysed and the impact of the production of the mineral resources on the country's economy is being assessed. The main goal of this work is to map the market with the uranium from the perspective of two main producers, Kazakhstan and Australia, and the European Union as a valuable importer of this comodity. The partial goal is to evaluate Nigerian economy to answer the question whether this country as a fourth world producer of uranium suffers from Dutch disease.
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Does Russia suffer from Dutch disease?
Zanikov, Konstantin ; Babin, Jan (advisor) ; Čermáková, Klára (referee)
The aim of this bachelor thesis is to determine, whether we can detect symptoms of the so-called Dutch disease in the case of Russia. The Dutch disease is a concept, which tries to explain why countries possessing vast amounts of natural resources register relatively slower rates of economic growth -- a phenomenon known as the paradox of plenty. The Dutch disease is present in the economy in the form of the following symptoms: the real appreciation of the exchange rate, the growth of a non-traded economic sector, the growth of real wages and the decline of the manufacturing sector. In the case of Russia I can confirm the absolute presence of the first two and the partial presence of the third one. In the section concerning econometrics I constructed a model, which describes and analyzes the Russian real effective exchange rate. The prices of oil, the reserves of the central bank and the Balassa-Samuelson effect were proven to be significant. From the perspective of the country's de-industrialization, however, we cannot claim, that Russia "suffers" from Dutch disease.
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Colonialism as a reason for the Dutch Disease in Africa and its implication to economic development and monetary policy
Bauerová, Eliška ; Šíma, Ondřej (advisor) ; Hába, Stanislav (referee)
The main aim of the Bachelor's Thesis is to focus on developing countries and their complicated way to longlasting economic growth and stability. With an example of Africa it is trying to explain that badly used official development assistance together with barely any export diversity of a country can lead to a problem called the Dutch Disease. The first two parts of the thesis describe the theoretical concept as well as historical and current development of the continent. The third part brings recommendations for future development and includes specific macroeconomic data which provide more information related to hypotheses.
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Analysis of the effect of natural resources extraction on the economy: Dutch disease effect in Norway and Venezuela between 1973 - 2013
Sachunský, Jaromír ; Doležal, Ondřej (advisor) ; Ševčíková, Michaela (referee)
The aim of this bachelor thesis is to examine the impact of the consequences of the Dutch disease effect on the economy of Norway and Venezuela between 1973 -- 2013. How is it possible that Norway was able to accumulate the oil revenues in the largest sovereign wealth fund in the world while Venezuela has been long economically troubles? The introductory part defines the theoretical framework of the Dutch disease, the usual course outline and the most common consequences. While Norway serves as a textbook example of a country that managed to honourably overcome the disease effects Venezuela, on the contrary, cannot emerge of its consequences. In the last part of the thesis empirical comparisons of selected data are made, which further confirm the theoretical foundations.
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Influence of mineral resources on politics and economics in chosen countries of Sub-Saharan Africa
Krausová, Kateřina ; Volenec, Otakar (advisor) ; Kochan, Jan (referee)
Diplom thesis discusses a question of influence of mineral resources on politics and economics in chosen countries of Sub-Saharan Africa. The paradox of low economic development of many resource rich countries significantly engaged in international trade is often discussed by economic experts. I decided to focus on Sub-Saharan Africa because I consider this region to be unable to fully use its potential for economic development despite being very rich in natural resources.Target of this thesis is to find out which natural resources exist in chosen countires, how the countries manage them, how successfull their economic development is, which problems they currently handle and how their current situation is related to their historic, cultural and politic background. For the purpose of my thesis I have chosen Nigeria, Democratic Republic of Congo and Botswana.
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Mongolia: economic miracle or another case of resource curse?
Mičánek, Jiří
The subject of this thesis is analysis of natural resource abundance effects in Mongolia. The first part of this paper provides an overview of literature on the topic of resource curse, as well as brief description of Mongolia's economy with special focus on the mining sector. Second part of the paper closely examines outcomes of natural resource dependence in Mongolia in the period between 1996 and 2013 while focusing on specific channels mentioned in the literature. This is followed by policy recommendations and conclusion.
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