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Gravity model estimation using panel data - is logarithmic transformation advisable?
Bobková, Božena ; Benáček, Vladimír (advisor) ; Baruník, Jozef (referee)
This thesis investigates the question if the estimation of gravity model of in- ternational trade based on the logarithmic transformation of the model is ad- visable when panel data are employed for the estimation. We have derived theoretically that in the presence of heteroskedasticity the logarithmic trans- formation causes inconsistency of the estimated coefficients. According to the literature, we have recommended rather the Poisson pseudo maximum likeli- hood estimation technique for the empirical research of the gravity model. We have also provided an empirical analysis of Czech and German panel data sets based on the comparison of the performance of traditional and Poisson estima- tion approaches. This analysis confirrms Poisson pseudo maximum likelihood estimation method as a more proper method for estimating the coefficients of the gravity equation.
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Trade and Politics: Political Determinants of International Trade Flows
Sosnovec, Jan ; Semerák, Vilém (advisor) ; Paulus, Michal (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies Master's thesis Trade and Politics: Political Determinants of International Trade Flows Author: Bc. Jan Sosnovec Supervisor: Ing. Vilém Semerák, M.A., Ph.D. January 3, 2018 Abstract This thesis takes a comprehensive look at the relationship between international trade and politics. The first part of this thesis is theoretical. Besides providing a useful overview of this highly complex subject, it makes a contribution to the contemporary theory by proposing two simple models. The first of these models explains how because of complementarity of institutions, countries end up stuck with inefficient institutions and consequently high trade costs; countries can break out of this inefficient equilibrium only by coordinating their actions. The second proposed model shows how governments set trade barriers in order to pursue their political aims, while at the same time staying popular in order to remain in power. This model is consistent with a wide variety of regime types and ideologies, and takes into account voter heterogeneity. The second part of this thesis is empirical. It uses the gravity model of trade, with multilateral resistance terms represented either by fixed effects or by the Baier-Bergstrand linear approximation of...
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Analysis of CEE countries' Trade Potential based on Trade between CEE 16 countries and China.
Li, Lei ; Svoboda, Karel (advisor) ; Figueira, Filipa (referee) ; Semerák, Vilém (referee)
The main purpose of this dissertation is to explore the trade potentials between Central and Eastern Europe countries and China. According to the collected information and data, this dissertation believes that although there are some shortcomings in the trade between CEE countries and China, CEE countries' trade potentials with China are relatively high. This is because, on the one hand, by observing the trend of the trade development in the past ten years, it could be found that the trade scale between CEE countries and China has been continuously increasing. Combined with the trade competitiveness and trade complementarity between CEE countries and China, this dissertation believes that the practical basis for trade cooperation between CEE countries and China is relatively strong. For example, Latvia has an obvious competitive advantage and trade complementarity in crude materials, inedible, except fuels (SITC 2). On the other hand, according to the trade potential ratios calculated by the trade gravity model, the overall trade potential ratios between CEE countries and China are not significantly high, which suggests that CEE countries and China still have strong trade potentials in export and import trade. Keywords: Central and Eastern Europe countries, China, trade potential, trade gravity...
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Trade and Politics: Political Determinants of International Trade Flows
Sosnovec, Jan ; Semerák, Vilém (advisor) ; Paulus, Michal (referee)
Charles University in Prague Faculty of Social Sciences Institute of Economic Studies Master's thesis Trade and Politics: Political Determinants of International Trade Flows Author: Bc. Jan Sosnovec Supervisor: Ing. Vilém Semerák, M.A., Ph.D. January 3, 2018 Abstract This thesis takes a comprehensive look at the relationship between international trade and politics. The first part of this thesis is theoretical. Besides providing a useful overview of this highly complex subject, it makes a contribution to the contemporary theory by proposing two simple models. The first of these models explains how because of complementarity of institutions, countries end up stuck with inefficient institutions and consequently high trade costs; countries can break out of this inefficient equilibrium only by coordinating their actions. The second proposed model shows how governments set trade barriers in order to pursue their political aims, while at the same time staying popular in order to remain in power. This model is consistent with a wide variety of regime types and ideologies, and takes into account voter heterogeneity. The second part of this thesis is empirical. It uses the gravity model of trade, with multilateral resistance terms represented either by fixed effects or by the Baier-Bergstrand linear approximation of...
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Gravity model estimation using panel data - is logarithmic transformation advisable?
Bobková, Božena ; Benáček, Vladimír (advisor) ; Baruník, Jozef (referee)
This thesis investigates the question if the estimation of gravity model of in- ternational trade based on the logarithmic transformation of the model is ad- visable when panel data are employed for the estimation. We have derived theoretically that in the presence of heteroskedasticity the logarithmic trans- formation causes inconsistency of the estimated coefficients. According to the literature, we have recommended rather the Poisson pseudo maximum likeli- hood estimation technique for the empirical research of the gravity model. We have also provided an empirical analysis of Czech and German panel data sets based on the comparison of the performance of traditional and Poisson estima- tion approaches. This analysis confirrms Poisson pseudo maximum likelihood estimation method as a more proper method for estimating the coefficients of the gravity equation.
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Dopad mezinárodních sankcí spojených s Ukrajinskou krizí na ruskou ekonomiku
Pak, Alena ; Bolotov, Ilya (advisor) ; Čajka, Radek (referee)
The economic sanctions in connection with the Ukrainian crisis have been implemented in order to prevent the Russian Federation from interference and escalation of the situation. The main determinant of effectiveness of economic sanctions is costs that are inflicted by these measures. The goal of this thesis is to find out whether economic sanctions have had an impact on the Russian economy. Russia has been experiencing recession since 2014. One of causes is economic sanctions. Statistical analysis within the theory of gravity model of trade confirms that economic sanctions have had impact on the Russian economy. Calculation of economic cost for Russia and political success of economic sanctions requires a separate research.
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