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Argentine financial crisis
Klapková, Jana ; Žamberský, Pavel (advisor) ; Jiránková, Martina (referee)
Diploma thesis on Argentine financial crisis deals with the biggest financial crisis in the country's history, which took place at the turn of 2001/2002. This paper examines economical and political development before the crisis, what caused it, its impacts and how it could be prevented. The aim of this paper is to analyze the causes of the crisis. The secondary goal of this paper is to assess whether and how this crisis could have been avoided or at least how the effects could be mitigated.
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Baltic States: Lessons from the Crisis
Čermák, Jiří ; Holub, Tomáš (advisor) ; Herrmannová, Lenka (referee)
Between 2000 -2007 Baltic countries were among the fastest growing economies in Europe, but in 2008 they were struck by very deep recession. Unlike the other Central and Eastern European countries, the Baltics maintained fixed exchange rate regimes and it raised the question about their effects on the economies. This work focuses on the external imbalances of the Baltic economies. It analyzes the compositions and sources of the current account deficits and discusses other influential factors. Detailed discussion is devoted to the capital inflows and their determinants. The thesis also contains empirical study which analyzes the relationship between the exchange rate regime and current account balance. We find that the current account deficits were not sustainable not only because of their sizes but also for their structure. The empirical analysis of the relationship between exchange rate regimes and current account deficits did not bring clear - cut results which would prove the hypothesis that the fixed exchange regimes negatively affect the current account balances. 1
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Alternatives of central banking and ways of their practical application
Chaloupková, Jana ; Koderová, Jitka (advisor) ; Jakl, Jakub (referee)
This thesis at the theoretical level deals with possible alternatives of two-tier banking system with the central bank. Then in details it describes the analysis of one of them -- currency board. The application section focuses on three completely different countries that have been met with this system and have been strongly influenced by it. It is meant: European country Estonia, Latin American Argentina and Hong Kong Special Administrative Region of the People's Republic of China. This submitted work analyzes each currency board separately, discusses the economic situation before and after its implementation and also outlines the current developments in the economy. At the conclusion, there is their comparison and evaluation of the success of the currency boards.
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Comparison of Currency Board and Crawling Peg exchange rate arrangements in transition economies
Štolc, Michal ; Brůna, Karel (advisor) ; Čermáková, Daniela (referee)
This bachelor thesis discusses the issue of adopting appropriate exchange rate arrangement in transition economies of Eastern Europe during the 90's of 20th century. It more closely focuses on two of those arrangements, Currency Board and Crawling Peg. In the theoretical part, it describes the division of exchange rate regimes, problems of transition economies and specific features of Currency Board and Crawling Peg regimes. In the following analytical part, it compares the effects of adoption of one of these exchange rate regimes in Estonia, Lithuania, Bulgaria, Poland and Hungary.
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Euro as legal tender outside the eurozone: the theoretical and legal aspects
Rajchlová, Eliška ; Hnát, Pavel (advisor) ; Jelínek, Tomáš (referee)
The thesis deals with countries that are monetary integrated with the eurozone in another form of monetary integration than monetary union, otherwise than by joining the eurozone. The aim of this thesis is to describe the forms of monetary integration, their legal aspects, advantages and disadvantages and the reasons leading to their creation. Furthermore to create an overview of countries where the euro is legal tender in the form of a currency board or euroisation. Explain the reasons for these countries led to the decision to create these forms of monetary integration. Outline whether this monetary integration is somehow accompanied with economic integration. Describe how the implementation of these decisions took place in individual countries and how it is legaly regulated. Evaluate the influence of the adoption of such measures on the domestic economy of each country. Countries which this thesis deals with are: Bulgaria, Bosnia and Herzegovina, Estonia, Lithuania, Andorra, Monaco, San Marino, Vatican City, Montenegro and Kosovo.
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Monetary crisis and state bankruptcy in Argentina
Kubíčková, Tereza ; Burgerová, Jiřina (advisor) ; Jílek, Josef (referee)
The Bachelor thesis analyses the issue of financial crises, the dominant theme is monetary crisis in Argentina. The first part focuses on theoretical causes of crises, possibilities of their prevention and attempts to anticipate coming economic problems. The work deals with the study of Argentina's systemic crisis in the second section. We can observe on historical emergence of economy and behaviour its representatives that country had conditions leading to depression for long time. The work tries to answer questions like whether government was able to avoid the crisis and why its economic incidences were so catastrophical. The extend of the adverse effects is shown on main macroenomic indicators by the help of tables and graphs.
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Systémy měnových kurzů
Kaňok, Dalibor ; Taušer, Josef (advisor) ; Štěňhová, Božena (referee)
Různé země používají různé mechanismy stanovení a řízení devizového kurzu při realizaci plateb do resp. inkas ze zahraničí. Odlišnosti uspořádání kurzových vztahů v rámci jednotlivých kurzových režimů jsou dány především úlohou centrální bankovní instituce, vlády a trhu při formování devizového kurzu a mírou pružnosti či stability kurzu. Odlišné režimy působí jinak na vývoj platební bilance, devizových rezerv i vztah vnitřních a zahraničních cen. Každý kurzový systém pak vytváří specifické předpoklady pro provádění monetární a fiskální politiky, které mají následně dopady na rozhodování firem i jednotlivců.
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Comparison of Fundamental Exchange Rate Regimes
Stejskal, Jan ; Taušer, Josef (advisor) ; Cibulková, Iveta (referee)
Práce se zabývá členěním kursových režimů a problémy s tím spojenými, historickým vývojem kursových režimů a současným stavem v této oblasti. V další části jsou představeny některé vlastnosti a teorie spojené s kursovými režimy a zmíněna problematika přechodů mezi kursovými režimy. Následně jsou představeny empirické studie zabývající se kursovými režimy s důrazem na studie zabývající se jejich vlivem na inflaci a hospodářský růst. Další studie hodnotí vliv dalších ekonomických a politických veličin na volbu kursového režimu a poslední studie se zabývá potvrzením nebo vyvrácením tzv. bipolární teorie. Závěrem jsou vyhodnoceny často velmi různorodé výsledky těchto studií.
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