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Evaluation of International Financial Integration on Growth in CEE Countries
Yang, Yang ; Jeřábek, Petr (advisor) ; Li, Yating (referee) ; Čech, František (referee)
The thesis examines the influence of international financial integration on growth in Central and Eastern European economies using a two-way fixed effects model with macroeconomic data for 16 Central and Eastern European countries from 2007 to 2021. The thesis draws several conclusions. First, the ratio of net FDI inflows and outflows to GDP does not present a significant effect on growth. Although the stock data on FDI is similarly not significant for the overall sample regression, the regression of the sample divided into developed and developing economies shows a positive effect of FDI liabilities on economic growth for developed economies and a negative effect of FDI liabilities on economic growth for developing economies. Second, for both the overall sample, developed economies, and developing economies, none of the portfolio investment asset variables are statistically significant, except for portfolio investment assets in developing economies. Third, both portfolio debt and other investment debt negatively affect economic growth in developing economies and the overall sample, while the result is not significant for developed economies.
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Treasure islands: the economic analysis of tax havens
Filip, Ondřej ; Janský, Petr (advisor) ; Adam, Tomáš (referee)
Bachelor Thesis Abstract This thesis strives to introduce a wider notion of tax havens. We alter a traditional paradigm by investigating tax havens' influence on economic performance of other countries. The first part of the thesis copes with issues implied by the absence of a suitable tax haven's definition which results in compiling an inclusive list of havens. Subsequently, we present a data-based description of the identified tax havens with an emphasis on several widely-held assertions. The second part delivers an empirical analysis. It illustrates the role of tax havens as financial intermediaries. We examined whether the volumes of capital flows between non-havens and tax havens correspond to the sizes of the counterpart economies and to their mutual distance. Foremost, we found intensified capital flows between tax havens and large non-haven countries in their close proximity. The thesis concludes by a discussion of results.
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International Investment Agreements and European Union Law
Fecák, Tomáš
The relationship between international investment agreements and EU law have attracted a lot of attention in past few years. The aim of this thesis is to bring a detailed analysis of various aspects of this complicated relationship. In attainment of this aim it proceeds in following steps. After a short introduction (Chapter I.), Chapter II. contains a brief overview of typical content of bilateral investment treaties as well as a more detailed analysis of relevant EU law rules concerning foreign investment, enabling subsequent comparison of both sets of rules. Chapter III. deals with investment agreements to be concluded by the EU, in particular with questions of external competence for foreign investment, responsibility for breaches of investment agreements concluded by the EU and the future shape of EU investment policy. The status of existing bilateral investment treaties concluded between EU member states and third countries is analyzed in Chapter IV. Chapter V. tackles various issues related to investment treaties concluded between member states (so called intra-EU BITs).
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Investment Policy of the European Union - protection of foreign direct investment
Štamberk, David ; Šmejkal, Václav (referee)
Investment Policy of the European Union - protection of foreign direct investment Abstract One of the changes brought about by the Lisbon Treaty is the explicit inclusion of foreign direct investment and its protection in the common commercial policy of the European Union. This is one of the areas of exclusive competence of the EU. The European Union has subsequently stated negotiating bilateral agreements governing, inter alia, investment issues. However, it has not been spared from controversy and negative publicity that has been accompanying especially the TTIP and the CETA. This work aims to analyse the investment policy of the EU and mutual interaction of its institutions with the Member States and third parties. After general introduction to the topic of international investment law and EU law (chapters II. and III.), it is devoted to the issue of protection of foreign investment in the internal market. Its regime is then compared with the BIT regime (chapter IV.). Attention is then focussed towards the EU's external relations in the field of investment protection. Its competence is subjected to further analysis (chapter V.) and current results of efforts of the Commission and the EU as such are also discussed (chapter VI.). It is so in the light of possible impacts of foreign investment in terms of...
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Investment Policy of the European Union - protection of foreign direct investment
Štamberk, David ; Šmejkal, Václav (referee)
Investment Policy of the European Union - protection of foreign direct investment Abstract One of the changes brought about by the Lisbon Treaty is the explicit inclusion of foreign direct investment and its protection in the common commercial policy of the European Union. This is one of the areas of exclusive competence of the EU. The European Union has subsequently stated negotiating bilateral agreements governing, inter alia, investment issues. However, it has not been spared from controversy and negative publicity that has been accompanying especially the TTIP and the CETA. This work aims to analyse the investment policy of the EU and mutual interaction of its institutions with the Member States and third parties. After general introduction to the topic of international investment law and EU law (chapters II. and III.), it is devoted to the issue of protection of foreign investment in the internal market. Its regime is then compared with the BIT regime (chapter IV.). Attention is then focussed towards the EU's external relations in the field of investment protection. Its competence is subjected to further analysis (chapter V.) and current results of efforts of the Commission and the EU as such are also discussed (chapter VI.). It is so in the light of possible impacts of foreign investment in terms of...
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Investment Policy of the European Union - protection of foreign direct investment
Štamberk, David ; Tomášek, Michal (advisor) ; Balaš, Vladimír (referee) ; Křepelka, Filip (referee)
Investment Policy of the European Union - protection of foreign direct investment Abstract One of the changes brought about by the Lisbon Treaty is the explicit inclusion of foreign direct investment and its protection in the common commercial policy of the European Union. This is one of the areas of exclusive competence of the EU. The European Union has subsequently stated negotiating bilateral agreements governing, inter alia, investment issues. However, it has not been spared from controversy and negative publicity that has been accompanying especially the TTIP and the CETA. This work aims to analyse the investment policy of the EU and mutual interaction of its institutions with the Member States and third parties. After general introduction to the topic of international investment law and EU law (chapters II. and III.), it is devoted to the issue of protection of foreign investment in the internal market. Its regime is then compared with the BIT regime (chapter IV.). Attention is then focussed towards the EU's external relations in the field of investment protection. Its competence is subjected to further analysis (chapter V.) and current results of efforts of the Commission and the EU as such are also discussed (chapter VI.). It is so in the light of possible impacts of foreign investment in terms of...
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International Investment Agreements and European Union Law
Fecák, Tomáš ; Šturma, Pavel (advisor) ; Balaš, Vladimír (referee) ; Švarc, Zbyněk (referee)
The relationship between international investment agreements and EU law has attracted increased attention in past few years. The aim of this thesis is to bring a detailed analysis of various aspects of this complicated relationship. In attainment of this aim it proceeds in the following steps. After a short introduction (Chapter I.), Chapter II. briefly overviews typical content of bilateral investment treaties, following with a more detailed analysis of relevant EU law rules concerning foreign investment and subsequent comparison of both sets of rules. Chapter III. deals with investment agreements to be concluded by the EU, in particular with questions of external competence for foreign investment, responsibility for breaches of investment agreements concluded by the EU and the future shape of EU investment policy. The status of existing bilateral investment treaties concluded between EU member states and third countries is analyzed in Chapter IV. Chapter V. tackles various issues related to investment treaties concluded between member states (so called intra-EU BITs).
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Treasure islands: the economic analysis of tax havens
Filip, Ondřej ; Janský, Petr (advisor) ; Adam, Tomáš (referee)
Bachelor Thesis Abstract This thesis strives to introduce a wider notion of tax havens. We alter a traditional paradigm by investigating tax havens' influence on economic performance of other countries. The first part of the thesis copes with issues implied by the absence of a suitable tax haven's definition which results in compiling an inclusive list of havens. Subsequently, we present a data-based description of the identified tax havens with an emphasis on several widely-held assertions. The second part delivers an empirical analysis. It illustrates the role of tax havens as financial intermediaries. We examined whether the volumes of capital flows between non-havens and tax havens correspond to the sizes of the counterpart economies and to their mutual distance. Foremost, we found intensified capital flows between tax havens and large non-haven countries in their close proximity. The thesis concludes by a discussion of results.
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Analysis of financial account of balance of payments of the Czech Republic
Nguyen, Johnny Quan ; Šíma, Ondřej (advisor) ; Pour, Jiří (referee)
This bachelor thesis deals with the analysis of the financial account of balance of payments since the mid-nineties to the present. Individual items of the financial account are decribed in the theoretical part. Subsequently the practical part of the thesis focuses on the analysis of all partial items of the financial account. We will find out that foreign direct investments are stable source for capital imports. They have a lot of positive advantages, but we have to also point out the disadvantage of the decline of balance of the primary incomes. Portfolio investments are less stable and it´s appropriate to distinguish them to debt and equity securities. The thesis describes the connection among the items of the financial account (i.e. how the items had an impact on each other) as well. I will also simply debate on the mutual relations between exchange rate regime and composition of the financial account.
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