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FDI drop in Slovakia during the economic crisis (2008-2010)
Stoila, Martin ; Kučerová, Irah (advisor) ; Knutelská, Viera (referee)
The thesis discusses the causes of the sudden FDI drop in Slovakia during the economic crisis when R. Fico's government was in power. The drop came after Euro adoption, deep structural reforms and overall attractiveness of the country for the foreign investors. Mainly qualitative methods are utilized in the paper - coding was found to be the most appropriate method to analyze the reasons companies stated for leaving the country. Almost 64% of the investors mentioned crisis as the main cause of their departure. It was followed by company's strategy, the government's policies, strong currency and old machinery and technologies used in the factory. Thus, the hypothesis, which stated that the main reason for FDI plunge were policies of then government in combination with effects of economic crisis, was not confirmed.
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Determinants of foreign direct investments in Slovakia
Piršelová, Simona
The bachelor thesis investigates factors influencing inflow of foreign direct investments (FDI) into Slovakia. Firstly, the foreign direct investment concept is introduced, its clas-sification and effects on the host country. Next part deals with a development of for-eign direct investment in Slovakia, the structure of FDI inflow and effects on Slovak economy. Later, the main determinants are discussed closely. Empirical part examines the influence of particular determinants on Slovak economy applying time series regres-sion analysis based on Ordinary Least Square Method.
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Linkage between Exchange Rate and Foreign Direct Investments: Empirical evidence from Developing Countries
Hnath, Martin ; Geršl, Adam (advisor) ; Benáček, Vladimír (referee)
In this thesis we provide an updated empirical evidence on the linkage between an exchange rate and foreign direct investments (FDI). On the sample of 40 developing countries receiving FDI flows from five developed OECD econo- mies, we analyse how the strength of exchange rates, exchange rate volatility and currency regime affect FDI. Applying the Hausman-Taylor instrumental variable approach over the analysed period from 1991 to 2010, we have not found unanimous support on the role of exchange rates in influencing FDI. In the thesis, we document that over the last two decades, bilateral exchange rate volatility decreased and this can be assigned to its less-likely influence on FDI. In addition, based on the results of the analysis, we cannot confirm the wealth effect hypothesis that supposes an increase of FDI after real depreciation of developing country's currency. We ascribe this outcome to the development of average real exchange rates of developing countries that exhibited considerable strenghtening during the analysed period. We also find that de facto bilateral fixing of the currencies might be beneficial for FDI flows. The reasoning might lie in the reduction of transaction costs that is linked to credible exchange rates.
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Corporate tax rates: A new area of international cooperation?
Hrušč, Erik ; Parízek, Michal (advisor) ; Kučerová, Irah (referee)
This thesis analyses the potential for international cooperation in the issue of corporate tax rates. Using newly created dataset we study the relationship between the foreign direct investments and corporate tax rates in order to confirm that countries benefit from competing in setting their tax rates. Lowering one's corporate tax rate pays off in increased FDI. Furthermore, under the assumption that competitive behavior is individually rational, we analyze through the use of coherent country clusters the extent of competition within selected clusters, as compared to the situation on the global level. We find that the degree of competitive behavior is lower within coherent block of countries than globally. Thus, there seems to be less mutually harmful competition within coherent clusters of countries, mainly in EU 15, OECD and ASEAN, than on the global level.
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FDI drop in Slovakia during the economic crisis (2008-2010)
Stoila, Martin ; Kučerová, Irah (advisor) ; Knutelská, Viera (referee)
The thesis discusses the causes of the sudden FDI drop in Slovakia during the economic crisis when R. Fico's government was in power. The drop came after Euro adoption, deep structural reforms and overall attractiveness of the country for the foreign investors. Mainly qualitative methods are utilized in the paper - coding was found to be the most appropriate method to analyze the reasons companies stated for leaving the country. Almost 64% of the investors mentioned crisis as the main cause of their departure. It was followed by company's strategy, the government's policies, strong currency and old machinery and technologies used in the factory. Thus, the hypothesis, which stated that the main reason for FDI plunge were policies of then government in combination with effects of economic crisis, was not confirmed.
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Dopad ekonomickej krízy na dva vybrané štáty strednej Európy: Slovensko a Poľsko
Dovicová, Michaela ; Baxa, Jaromír (advisor) ; Skuhrovec, Jiří (referee)
The aim of this thesis is a comparison of impacts of the recent economic crisis demonstrated on three selected indicators in Poland and Slovakia. These indicators are unemployment, consumption and foreign direct investment. Theoretical part is aimed at fiscal policy and its role in the crisis, life cycle hypothesis and hypothesis of permanent income as the theories of households' consumption and savings, and jobless growth. Consequently, the thesis describes the situation before, during and after the crisis, whereby it also verifies predictions of above mentioned theories. In conclusion, it tries to forecast the possible development of selected indicators in these countries into the near future.
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Analýza zahraničních ekonomických vztahů mezi ČR a Francií
Smolková, Martina ; Plchová, Božena (advisor) ; Kopecký, Jan (referee)
Abstract This bachelor thesis deals with issues of international economic relations of the Czech republic and France. The aim of the thesis is to analyse the development of the business collaboration, scope of the direct international investments at both markets and to demonstrate the perspectives of the czech market. Both economies are introduced in the first two chapters, gross domestic products and engagement in international trade from the point of view of territorial and commodity structure are presented there followed by the comparison of international relations of the Czech republic and France before and after 2004, evolution of the mutual balance of trade as well as foreign direct investments. The last chapter focuses on new prospective areas of associations between the Czech republic and France and concludes with a SWOT analysis of the czech bussines traffic.
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Multinational corporations and their influence in developing countries
Veščičíková, Simona
This bachelor thesis deals with the issue of multinational corporations and their impacts on developing countries. The primary objective is to assess, how activities of multinational corporations influence developing countries in the economic, environmental, political and social areas. One of the major findings of this that is a fact, that negative influences of MNCs in developing countries are gradually reducing. First part of this thesis is focused on the general characteristics of MNCs including its structure, position in the world economy and formation and evolution over time. Further are analyzed developing countries and the principal issues they encounter. The second part of this thesis will demonstrate the previously discussed issues on three specific case studies - Royal Dutch Shell in Nigeria, Nike in Indonesia and Coca-Cola in India.
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Economic impacts of corruption in government
OMASTOVÁ, Jana
Bachelor thesis evaluates impact of corruption inside state administration on the economy of state. Analyzes modern forms of organized crime, clientelism, white collar crime, particularly the issue of public procurement and tax evasion. Used correlation analysis and graphs compare selected macroeconomic indicators with level of corruption within three European countries (Finland, Czech Republic and Bulgaria). The task of this thesis is to evaluate how corruption affects the economic performance of state.
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The impact of the tax havens on the public finance of Slovakia
Pištejová, Jana ; Janíčko, Martin (advisor) ; Mičúch, Marek (referee)
International tax planning deals with the tax benefits, their seeking and using by the tax entities and corporations. Even if the tax havens are generally considered as small islands, the different types of tax advantages are offered by the developed countries of the North America or Europe. This paper focuses on the analysis of the inward of foreign direct investments into the European countries with the preferential tax regimes. It explains the relationship between the inward of the investments and the factors which affect them. The inward of the foreign direct investments is the dependent variable, the independent variables are tax rates on corporate income, unemployment, as well as political stability. Although results of econometric analysis did not confirm our initial hypothesis that the lower tax burden will increase the inward of the investments to the country, this increase can be caused under the other circumstances, such as secrecy, property protection, stable political situation or simplicity and utility of the financial markets.
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