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State debt of the Czech Republic in comparison with selected countries of the European Union
Němcová, Eva ; Severová, Lucie (advisor) ; Svoboda, Roman (referee)
The bachelor thesis deals with a public debt of the Czech Republic and its comparison with debts of selected states of European Union. It is divided into two parts, theoretical and practical. In the first, theoretical part basic concepts, phenomena and methodology necessary for understanding the issue are defined. The practical part deals with historical events of mentioned states since 1918 regarding the development, state establishment, wars and similar events that caused greater fluctuations in the national debt. Next it thoroughly explores the development of state debt, consequently the economic situation of countries in the period of 1995 - 2014. In the next-to-last chapter comparison of national debts of the Czech Republic, Slovakia, Germany, Italy, Greece and Spain is done. The methods of investigation include the results of comparison and description In the last chapter of the practical part future development of state debt of the Czech Republic is predicted. The conclusion summarizes the results and benefits of the bachelor thesis.
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Central government debt of the CR in comparison with selected EU countries
Hlaváčová, Monika ; Severová, Lucie (advisor) ; Jitka, Jitka (referee)
This thesis explains concepts related to the topic such as central government debt, government debt, public debt, budget system and more. The analytical part is focused on the development of central government debt of the Czech Republic and its structure in the years 2000-2014. The central government debt from the point of view of the holders is divided into domestic and foreign debt. Its development and the development of individual components of these debts are described. In the thesis are also mentioned factors, which influenced the decline in central government debt in 2014. The next section compares the evolution of central government debt in CR and selected EU countries, namely Estonia, France, Italy, Germany, Spain and Greece. The structure of central government debt of selected countries for the period 2000-2010 is also analyzed, especially the marketable state debt that dominates. Its main parts are treasury bills, short, medium and long-term bonds. The thesis also describes the development of the government debt of individual countries and explains its difference from the central government debt. Evolution of government debt, such as percentage of GDP for next year, for the years 2015-2017 is estimated in STATISTICA programme. The causes of the sovereign debt reported by some authors as well as some suggestions for their solution are discussed.
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Financing of state budget with focus on money market instruments
Nožka, Radek ; Radová, Jarmila (advisor) ; Veselý, Marek (referee)
The main theme of this work is the deficit of the state budget of the Czech Republic and money market instruments with which is financed by - treasury bills, government bonds, government savings bonds and Eurobonds. Ways in which they are placed on the market, characteristics and trends in volume and structure. The work deals also with the strategy of debt management and risk management.
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Emission and trade with short-term securities
Havrdová, Petra ; Radová, Jarmila (advisor) ; Stádník, Bohumil (referee)
This bachelor thesis deals with trade and emission of treasury bills. The first and longest part of this thesis concentrates on treasury bills - their emission and primary and secondary trade. The second part contains a description of bills issued by Czech national bank, reasons for their emission and amount of issued bills during selected period. The third part includes the subject of the monetary policy and its relationship with T-bills and bills issued by Czech national bank. The last part is focused on Short-Term Bond System, which ensures separate records of the securities and settlement system for trading.
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Public debt and capital market in Czech Republic
Lošková, Žaneta ; Vítek, Leoš (advisor) ; Pavel, Jan (referee)
The Bachelor thesis deals with the public debt. It describes the basic features of government bonds and treasury bills and their primary issue. It investigates the basic principles of sovereign debt management in the world and examines in detail the process of debt management and risk management in the Czech Republic. The analytical part examines instruments in terms of yield and demand. It evaluates the development of trade volume in the bond market in recent years and about which instruments are most in demand in the market. Finally, examines the risks associated with debt instruments through the CDS.
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Central government deficit financing via issues of bonds
Novák, Alexander ; Radová, Jarmila (advisor) ; Veselá, Jitka (referee)
This diploma thesis surveys debt instruments used in OECD and European Union member countries for financing central government deficits and the techniques of selling government bonds. The volume and structure of the central government deficit and debt in the Czech Republic as well as organization of debt management office are subjected to a detailed analysis. Debt management accomplishments are confronted with the set out strategy and its objectives. The thesis also consists of the characteristics of securities in use (treasury bills, medium-term and long-term government bonds) as well as of legal regulations of auctions by which the securities are placed on the domestic market. An independent subchapter is dedicated to foreign issues of bonds.
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