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Three Essays on Financial Development
Mareš, Jan ; Horváth, Roman (advisor) ; Belke, Ansgar (referee) ; Čihák, Martin (referee) ; Geršl, Adam (referee)
The dissertation is a compilation of three empirical papers on the effects of financial development. In the first paper, we examine finance's effect on long-term economic growth using Bayesian model averaging to address model uncertainty. Our global sample findings indicate that the efficiency of financial intermediation is robustly related to long-term growth. The second and third papers investigate the determinants of wealth and income inequality, capturing various economic, financial, political, institutional, and geographical factors. We reveal that finance plays a considerable role in shaping both distributions.
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Sustainable Development Goal Nr. 1: End of Poverty
Komorová, Anežka ; Cahlík, Tomáš (advisor) ; Fanta, Nicolas (referee)
Nowadays, the question of the Sustainable Development Goals (SDGs) seems to get more and more attention. This bachelor thesis focuses on the first goal - end poverty in all its forms everywhere. There is a great number of literature which examines possible determinants of poverty in order to create effective strategies to fight witht it. Majority of them focuses on the study in particular countries or regions since their data are easier to access. On the contrary, this thesis examines variables and their effect on extreme poverty in the world with the use of the econometric analysis on panel data. There are seven independent variables used: GDP per capita, Gini index as a proxy variable for income inequality, population growth and four education attainment levels - no education, primary, secondary and tertiary. The World Bank was chosen as the primary source of data with a great number of observations from 125 countries over time period of 2000 and 2017. According to the results of the study, explanatory variables GDP per capita, income inequality, no education and tertiary education significantly affect extreme poverty. Also, the results show that the goal of 0 % is unlikely to be fulfilled by the year of 2030. To sum up, the first goal of the SDGs turned out as too ambitious. For its...
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Criminality in the Czech Repulic
Doležalová, Barbora ; Cahlík, Tomáš (advisor) ; Palanská, Tereza (referee)
This thesis aims to analyze factors influencing crime rate in the Czech Republic. From time immemorial, crime rate has been a part of our society and its impacts do not influence only its victims but the whole economy as well. The main contribution of this thesis is an econometric analysis of the most recent panel data of Czech counties from 2010 to 2017. Thanks to this dataset we identified factors and their significances. For more accurate results we also examined factors influencing particular crimes - robbery, burglary, rape and murder. By analysis we found out that unemployment rate is significant factor, however, this factor has negative relationship with crime rate. This relationship can be described that by increasing unemployment rate people more care about their belongings, hence, it is harder for criminals to commit a crime. Positive and significant relationship was found between unemployment and robbery. Furthermore, results show that the percentage of foreigners is positively significant to burglary and rape. Therefore, it is important to focus on integration of foreigners into our society. Moreover, income inequality is positively significant in a rape model and the deterrence is positively significant as well in a crime rate model.
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What is the effect of income inequality on economic growth?
Ardeleanu, Dorian ; Baxa, Jaromír (advisor) ; Astapovich, Stanislav (referee)
The impact of income inequality on the level of economic growth is an impor- tant question, but the existing literature did not reach a consensus about the sign of its effect. This thesis studies the impact in 93 countries over the years 1995-2015. We apply two different methods: the fixed effects with Newey and West standard errors, and the first-difference generalized method of moments. The main findings emphasize that a widening wealth gap has an overall negative influence over the real GDP per capita growth. Besides that, the effect is stronger among low-income countries than among high- income ones. Moreover, we find that the impact of income inequality on economic growth depends on the governing party's doctrine. It is negative and statistically significant only in states with centrist governments. 1
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Causes of Income Inequalities in Venezuela and Possible Solutions to This Problem
Bubák, Štěpán ; Sejkora, Jiří (advisor) ; Hasík, Gabriel (referee)
The objective of this bachelor thesis is to evaluate the drivers of income inequality in Venezuela based on the economical and historical development of the country and to suggest possible solutions of this problem. The thesis is structured into three main chapters. First chapter defines the concept, that are used in the following chapters and are crucial for the understanding of the issue. It also describes several economic approaches to income inequality measuring and lists universal drivers of inequalities. The second chapter deals with the analysis and evaluation of the causes of income inequalities in Venezuela. Third chapter comes with several solutions of this problem.
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Impact of taxes and benefits on income inequality in the Czech Republic
Hospodka, Jakub ; Pavel, Jan (advisor) ; Vaskovskyi, Anton (referee)
The aim of this Bachelor thesis is to analyze the impacts of the tax system and the state social support benefits on the level of income inequality in the Czech Republic between 2004 and 2014. The space is also devoted to anchoring both systems and explaining the part of their functioning that is relevant for the mentioned topic. The Gini coefficient, the Robin Hood Index and the S80 / S20 ratio are used to quantify income inequality. The analysis consists of the creation of four income categories based on the EU SILC survey and the subsequent application of the above-mentioned indicators.
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Development of selected social indicators of former Eastern bloc countries after EU accession
Polk, Robin ; Zeman, Jan (advisor) ; Musil, Petr (referee)
Bachelor thesis is focused on characteristics of social statistics in the countries of the former Eastern bloc and comparasion of its development after the EU accession. The thesis is focused on those post-communist countries that joined the European Union on 1st May 2004. The subject matter are mainly indicators of income, income inequality, unemployment and poverty. This thesis describes the methodology of these indicators, data sources and the procedure by which social situation in the European Union is monitored. The main part is aimed on the development of these indicators, comparasion among the monitored countries as well as the comparasion with the trend before their EU accession. Social policy of the EU, its history, as well as the current strategy are also mentioned.
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Vliv fiskální politiky na příjmovou nerovnost ve vybraných zemích Latinské Ameriky
Urbanová, Anna ; Maialeh, Robin (advisor) ; Slaný, Martin (referee)
The region of Latin America remains the most unequal in the world, despite the downward trend of last years. The negative socioeconomic impact of high income inequality has been examined and proved by many studies. The difference between inequality rates in Latin America and more equalitarian countries is much bigger when regarding income after taxes and transfers, which follows that the source of persisting high rates of unequal income distribution might be found in ineffective fiscal policy. This thesis examines the assumed impact of implemented fiscal policy on level of income inequality for four Latin American countries (Mexico, Brazil, Chile and Colombia). In the theoretical part, theoretical background for income inequality and fiscal policy is covered. The practical part includes analysis of development of income inequality, public expenditures and tax revenues in these countries from 1992 to 2012. Subsequently, regression model proves a significant negative impact of public health expenditures on income inequality in case of Mexico, Brazil and Chile. Public spending on education is found effective in reduction of income inequality in Brazil, however in case of Chile an increase in public spending on education seems to increase unequal distribution of income among households. Main finding of this thesis is that when efficiently targeted, fiscal policies aimed at increasing expenditure on health and education systems are likely to serve as effective measures of reduction of unequal income distribution.
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Fiscal consolidations and their effects on income inequality. An empirical analysis of the distributional effects of austerity, using a novel approach to identify consolidation compositions
Scheibe, Conrad ; Baxa, Jaromír (advisor) ; Douarin, Elodie (referee)
This thesis investigates the effects of fiscal consolidations on income inequality. Although fiscal consolidations have become a popular economic research topic, their effects on income inequality, which itself has gained broad popularity lately, are relatively unexplored. Therefore, this thesis econometrically assesses the development of Gini coefficients during and after austerity measures. The paper applies regression analysis with panel data techniques using a sample of 17 high-income countries during the period of 1978 - 2009. It finds that a consolidation, measured by a deliberate improvement of the primary budget balance significantly increases income inequality of the referring country. In detail, an improvement of the primary budget balance about one percent of GDP is associated with an increase in market income inequality of 0.6% and a smaller increase in net income inequality in the year after. Moreover, this thesis explores the discretionary effect of different consolidation compositions. To do so, it introduces a novel approach to differentiate between consolidations that are either exclusively undertaken through spending cuts, tax increases or a combination of both. Thereby, it is found that especially tax-only consolidations tend to be equality-friendly but also rather small in size...
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The Effect of Globalization on the Income Inequality
Stárek, Martin ; Cahlík, Tomáš (advisor) ; Zeynalov, Ayaz (referee)
In this thesis, we explore the effect of globalization on the income inequality. We examine some features of methodology used in the majority of research on this topic that can have significant impact on results but they are not addressed in the publicly available research. Firstly, we proposed a new method of normalization that creates more stable data and created a new simple index of globalization using this method. This index then yielded more consistent results than the standard globalization indices. Secondly, we found out the most significant variable in a composite index can have no economic or logical interpretation. This was the case with the effect of mobile cellular subscriptions per 100 people on the income inequality. This means results of composite indeces should be interpreted carefully and a better analysis is probably estimating effects of all underlying variables individually. Moreover, we found that underlying variables in a composite globalization index can have opposite effects on the income inequality. The effects than cancel out, at least partly, and this can lead to smaller, statistically less significant results. Nevertheless, the overall effect of globalization on the income inequality, though statistically not significant, appeared to be negative. This is the case...
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