|
|
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area
Žáček, Ondřej ; Vybíral, Roman (referee)
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area Abstract The thesis answers a number of questions related to the entry of the Czech Republic into the euro area. The basic premise is that joining the euro area does not consist only in changing of the national currency, but it must be perceived more comprehensively as a transition to the third stage of the Economic and Monetary Union which has been undergoing dynamic development at the institutional level. The main conclusions of the thesis are as follows. The traditional Maastricht convergence criteria, as they are explicitly formulated in primary law, cannot be regarded as the sole conditions for entry into the euro area. Non-legal aspects are also relevant when the fulfilment of these criteria is assessed by the European Commission and the European Central Bank. In addition, several new institutions such as the Banking Union or the European Stability Mechanism have been established in the euro area, but are not taken into account by the Maastricht convergence criteria. This also confirms that entry into the euro area cannot be reduced to a mere change of the national currency. Another important conclusion is that entering the ERM II exchange rate mechanism, which is necessary to meet one of the convergence criteria, is not...
|
|
|
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area
Žáček, Ondřej ; Kohajda, Michael (advisor) ; Karfíková, Marie (referee) ; Papoušková, Zdenka (referee)
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area Abstract The thesis answers a number of questions related to the entry of the Czech Republic into the euro area. The basic premise is that joining the euro area does not consist only in changing of the national currency, but it must be perceived more comprehensively as a transition to the third stage of the Economic and Monetary Union which has been undergoing dynamic development at the institutional level. The main conclusions of the thesis are as follows. The traditional Maastricht convergence criteria, as they are explicitly formulated in primary law, cannot be regarded as the sole conditions for entry into the euro area. Non-legal aspects are also relevant when the fulfilment of these criteria is assessed by the European Commission and the European Central Bank. In addition, several new institutions such as the Banking Union or the European Stability Mechanism have been established in the euro area, but are not taken into account by the Maastricht convergence criteria. This also confirms that entry into the euro area cannot be reduced to a mere change of the national currency. Another important conclusion is that entering the ERM II exchange rate mechanism, which is necessary to meet one of the convergence criteria, is not...
|
|
|
Analysis of nominal and real convergence of the Visegrad Group states
Černý, Robert ; Ševčíková, Michaela (advisor) ; Štípek, Vladimír (referee)
The aim of the submitted thesis is macroeconomic analysis, comparison and evaluation of nominal and real convergence of the Visegrad Group states with EU-15 states. By the help of regression model, one can state that in years 2004--2008 countries of V4 reached Beta - convergence with EU-15. However, this did not hold for the critical period in 2008--2012 when mainly Hungary lagged behind. There was proved a positive relationship between real and nominal convergence wherewith Balassa-Samuelson Effect for EU states was confirmed. The Czech Republic has always shown a lower nominal value than it would correspond to its GDP per capita, still it approximated to regression line over time. Other V4 states registered inverse course. During period 2004--2012, the Czech Republic performed Maastricht conver-gence criteria best from V4 states. Contrariwise, Hungary had the worst position of the ob-served period.
|
|
|
Analysis of long-term development of the exchange rate policy of the Czech Republic
Blažková, Kristýna ; Plchová, Božena (advisor) ; Nigrinová, Lenka (referee)
The aim of this bachelor thesis is to analyze a long-term development of the exchange rate policy of the Czech Republic. The first part considers definitions of exchange rate regimes and its application, advantages, risks and role of the central bank which controls the exchange rate policy. The next three parts are dealing with the history of the Czechoslovak crown and then of the Czech crown until the year 2004, when Czech Republic joined the European Union. The last part considers planned entry of the Czech Republic in the euro area. The level of preparedness for entry is considered by success in compliance with the Maastricht criteria.
|
|
|
The Journey of Czech Crown into eurozone
Sýkora, Filip ; Plchová, Božena (advisor) ; Hanzlíková, Helena (referee)
The target of this Bachelor's Thesis is to evaluate if the Czech republic is ready to accept the unified european currency euro, to analyse the ability of the Czech republic in fulfilling of the Maastricht convergence criteria and to assess whether the national economics is ready enough to enter the eurozone. In the first part of the Thesis is a brief description of formation of the united european monetary union. The second part is focused to fulfilling of the Maastricht convergence criteria by the Czech republic and its detailed description. And in the third part there is evaluated the real readiness for convergence to the united european currency of the czech economics is evaluated.
|
|
|
Maastricht convergence criteria and their fulfillment of the Czech Republic
Hrdinová, Pavla ; Pavlík, Zdeněk (advisor) ; Voříšková, Barbora (referee)
This bachelor thesis evaluates the development and appropriateness of the Maastricht Convergence Criteria from their beginnings. The thesis analyzes the current state of alignment of Eurozone member states in comparison with the monitored variables of Czech economy. Further, this thesis evaluates how the Czech Republic fulfils the convergence criteria and its preparedness to adopt the single currency. Last but not least, the thesis investigates the potential revenues and costs of the introduction of the euro in the Czech Republic. The thesis outlines the increasingly deepening of European integration and implementation of institutional changes in the functioning of the monetary union with respect to the current challenges of the monetary union. This has changed the entrance requirements and new financial and institutional commitments arising from eventual membership in the Eurozone.
|
|
|
Analysis of readiness of the Czech republic, Hungary and Poland to adopt the euro
Tesař, Jakub ; Němcová, Ingeborg (advisor) ; Karpová, Eva (referee)
The aim of this thesis is to assess, whether the Czech Republic, Hungary and Poland are ready to adopt the euro. The thesis consists of three main parts. The first part describes the history of the European Monetary Union. The second part focuses on the development of Czech, Hungarian and Polish economy in the years after transformation to a market economy. The last part deals with the Maastricht Convergence Criteria and Real Convergence Criteria, whereas also attempts to assess their actual fulfillment in the Czech Republic, Hungary and Poland.
|
|
|
Analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency.
Klumparová, Adéla ; Čajka, Radek (advisor) ; Bolotov, Ilya (referee)
This Bachelor's thesis " Analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency " examines with the accession of the Czech Republic to the euro area. In the first chapter the reader is familiar with the historical development of European monetary integration. This part is followed by The integration of the Czech Republic to this monetary Union and its commitment to adopt the euro as enshrined in the Maastricht Treaty in the second charter. The third chapter is focused on the nominal convergence criteria and on the achieved degree of their fulfilment by the Czech Republic. The next part of the thesis contains comprehensive analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency. This state is evaluated in terms of the structural similarities and economic synchronisation of the Czech economy with the economy of the eurozone, and also in terms of the ability of the economy to a the effects of asymmetric shocks arising after the Czech Republic's entry into the Monetary Union. This chapter is focused on the evaluation of the cyclical and structural harmonisation of the Czech Republic with the countries of the euro area and on the existence and function of the adjustment mechanisms. Attention is focused also on the positives and negatives arising from the accession of the Czech republic to the euro area, which are demonstrated on the example of the Slovak Republic.
|
|
|
The Journey of Czech Crown into Euro-zone: Expected Effects, Risks
Foniok, Karel ; Plchová, Božena (advisor) ; Nigrinová, Lenka (referee)
The goal of the Master thesis is to assess potential benefits and costs for Czech economy resulting from joining the euro-zone. The thesis also reviews the preparedness for the euro adoption in terms of fulfilment of both the nominal and real convergence criteria. First part summarizes the brief history of European monetary integration and theoretical aspects associated with function of monetary union. Follows the major part namely euro adoption in the Czech Republic where current status of fulfilment of maastricht convergence criteria and additional factors of real convergence will be analysed. This part of thesis also deals with direct and indirect impact of euro adoption on Czech economy. In the thesis I will also review current problems of euro-zone which could negatively affect the strategy of euro adoption in the Czech Republic.
|
|
|
Impacts of the global financial crisis on public finances in the Czech Republic
Kolísková, Lucie ; Ochrana, František (advisor) ; Roženský, Vojtěch (referee)
This thesis deals with the analysis and evaluation of the impact of Global financial and economic crisis, including taking anti-crisis measures and other legislative modifications, on public finances of the Czech Republic in time period from 2009 to 2011. The first chapter consist of explanation of key term "financial crisis", description and analysis of the mechanism of origin of the Global financial and economic crisis including identification of its key reasons and impacts and extension to the real economy worldwide. The second chapter covers with the analysis of the impact of the economic crisis on the Czech Republic and its public finances with putting accent on development of individual expenditures and revenues of the central state budget including balance of the central state budget and evaluation of its effects on meeting of Maastricht Convergence Criteria in defined period of time. The conclusion of the thesis summarizes available knowledge and recommendations for public finances which emerged from the analysis.
|
guest ::
