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Current issues related to government debt financing
Kuneš, Jakub ; Tuláček, Michal (advisor) ; Vybíral, Roman (referee)
The topic of the thesis are issues related to the government debt financing. Nowadays, the issue of the state debt is becoming more and more topical, especially as a result of the hundreds of billions of Czech budget deficits. Moreover, it is an area that affects directly or indirectly every person in the Czechia. It is therefore desirable to address the subject thoroughly, because it is an issue that has a multi-generational dimension and the consequences of today's budget negotiations may cause very unpleasant consequences for future generations. Although the level of Czech debt is relatively low compared with the countries of the European Union, in the fourth quarter of 2022, the Czech Republic became, by a wide margin, the fastest-debting country in the European Union. The thesis is divided into three parts.The first part introduces the reader to the issues and describes the key mechanisms of the functioning of the state budget.It describes what the national debt is, what its causes are and why the national debt has been growing steadily by orders of magnitude higher in recent years than it has been in the past decade. Mandatory and quasi-mandatory expenditures are identified as a major problem for public finances in the Czechia and is given special attention, including a model example that highlights...
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Comparation of development of the state debt of the Czech republic and the Slovak republic in 1993-2016 with regard to the impact of the government
Fučík, Václav ; Zeman, Martin (advisor) ; Ševčíková, Michaela (referee)
The goal of the bachelor thesis is to analyze the amount and the development of public debt between the years 1993 and 2016, which is represented by the state debt in the case of the Czech Republic and, in the case of the Slovak Republic, the debt of the public administration. Account is taken of the budgetary and fiscal policy set by individual governments based on their own ideological status. The theoretical part of the thesis defines mainly public finances, fiscal policy and the budgetary system - the substantial part of the budgetary system is the state budget. The practical part is divided into periods corresponding to political cycles. In each period the political and macroeconomic situation prevailing in individual countries is always characterized. That´s why it´s easier to understand the development of the state budget. The state budget is subsequently evaluated in sum with regard to the political and other factors influencing it. The final chapter of the practical part contains the analysis and comparison of the development of the public debt. On the basis of these facts conclusions are drawn and expressed hypotheses are verified.
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Economic Policy in the USA and Germany 1933–1939
Johnson, Zdenka ; Tajovský, Ladislav (advisor) ; Krebs, Vojtěch (referee) ; Slaný, Antonín (referee)
The dissertation provides an analysis, evaluation, and comparison of selected areas of economic policy in the United States of America and Germany from 1933 to 1939 within the context of the 1920s, the Great Depression, and the Second World War. Based on a thorough analysis of the determined objectives, tools, the intended and unintended impacts of their fiscal policies, monetary policies, and foreign-trade policies, the dissertation thesis aims to verify the basic hypothesis that the United States and German economic policies were largely similar as responding to similar issues that both advanced economies had to face. During the verification process, the author relies mainly on the genuine processing and analysis of original statistical sources. In the individual chapters of the dissertation both identical, and also different features in selected types of economic policies are presented. On the basis of a comparison of the main economic-policies trends, despite some differences in the partial characteristics of chosen economic policy types, it can be concluded that economic policies of the central governments of Germany and the United States of America were similar in surprisingly many respects.
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The return of Poland and Czechoslovakia and the entry of Hungary to International Monetary Fund.
Veverka, Jan ; Svoboda, Karel (advisor) ; Mlsna, Petr (referee)
Bachelor thesis "The Return of Poland and Czechoslovakia and the Entry of Hungary to International Monetary Fund" deals with the early membership of these three central European countries - Czechoslovakia, Poland and Hungary - in the International Monetary Fund. First the thesis deals with how both Czechoslovakia and Poland were involved in the process of setting up the IMF and how they both terminated their membership in the beginning of the fifties, later the thesis deals with the circumstances leading to the Hungarian membership in the International Monetary Fund in 1982, to Polish membership renewal in 1986 as well as to Czechoslovak membership renewal talks in the 1980s. There has been a substantial change in economic and political setting in Hungary, Czechoslovakia and Poland after thirty years of disparate economic evolution and political separation via "iron curtain". At the same time, the character of IFM changed as well, and it was this coincidence that lead to the change in the attitude towards the IMF membership on the side of all above mentioned states as well as of the international organization itself.
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Development and structure of state debt of the Czech Republic and Slovakia
Burdová, Diana ; Štiková, Radka (advisor) ; Serdarevič, Goran (referee)
This bachelor thesis deals with the development and structure of the state debt in Czech and Slovak Republic in the period from the establishment in 1993 to the year 2010. The main goal is to compare the development of indebtedness and state debt management in these two countries. The first part of the thesis deals with the theoretical background of public debt. The second part is a comparison itself and concentrates on the amount and structure of state debt, following the economic events, and on the actions of debt management. The conclusion summarizes common features and certain differences in the development. To some extent, it also outlines the future course of the state debt in Czech and Slovak Republic.
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The Czech Republic's Debt Financing: Causes and Risks of the Current Situation on the Bond Markets
Švadleňák, Michal ; Pavelek, Petr (advisor) ; Pekárek, Štěpán (referee)
This thesis is focused on the comparison of methods of financing budget deficits and national debt management in the Czech Republic with other OECD countries in the context of the current situation on the global financial market. The first part describes the methods of financing budget deficits in the Czech Republic which are compared with selected OECD countries. The second part is aimed at the impact of foreign exchange interventions of the Czech National Bank on the domestic bond market and it is compared with negative interest rates policy. The last part analyses the impact of the Public Sector Purchase Programme on the Czech Republic's bond market. The thesis implies that besides other factors, foreign exchange intervention of the Czech National Bank have an impact on the current situation on the bond market. While the impact of the programme PSPP has not yet proved.
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Long-term sustainability of state debt financing and the impact on development activities of the Czech government
Babičová, Martina ; Maaytová, Alena (advisor) ; Klazar, Stanislav (referee)
The aim of the thesis called: Long-term sustainability of state debt financing and the impact on development activities of the Czech government, is to evaluate the long-term sustainability. To achieve this aim the analysis of the development of the Czech state debt and identification of factors working for the deepening of fiscal imbalance was conducted. The work also explores the relationship between state debt and state budget expenditures on development activities of the government. Spending on research, development and innovation were chosen to identify that relationship. On the basis of the analysis there are suggested possible changes in fiscal policy which could contribute to improving the current situation and rebalance.
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Evaluation of the public debt and the government deficit in the Czech Republic with an emphasis on the part of a public health insurance
Netolická, Nicole ; Peková, Jitka (advisor) ; Musil, Martin (referee)
The thesis aims to analyze the development of relevant debt indicators, i.e. state budget deficit, public debt, government deficit and debt, but also debt and the deficit of the public health insurance. The management of public health insurance in the Czech Republic is analyzed as well. Last but not least, the goal is to find also the most important factors affecting the growth of debt indicators of public health insurance and determine the possible consequences of the deficit of the public health insurance. The theoretical part consists of three chapters. The first chapter concerns the general public finances and financial imbalances. Here is particularly important the subchapter about the budget system. The second chapter deals with the debt indicators, namely public debt and its affiliates, as well as budget deficits and specific deficits. All of these debt ratios are then analyzed in the analytical part of this thesis. The last chapter relates to public health insurance. Analytical part is divided into two major chapters. The first chapter analyzes the development of the state budget, public debt, government deficit and government debt in the Czech Republic. The entire analysis is divided into two periods, namely 1993 to 2003 and 2004 to 2014. This section contains the definition of the most important causes of development. The second part is devoted to the analysis of public health insurance, namely its evolution, current state, but also the development of debt indicators of public health insurance, which are analyzed again within the Czech Republic in two seasons. At the conclusion of this chapter are defined the most important factors influencing the evolution of debt indicators of public health insurance and the impact of a possible deficit of the public health insurance.
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Czech Republic State Debt - Risks and Consequences
Hůla, Pavel ; Kaczor, Pavel (advisor) ; Krochová, Zuzana (referee)
Thesis on "Czech Republic State debt -- risks and consequences " analyses the origin, the development and the structure of the Czech Republic state debt since the 90s of the 20th century to the present in the context of the political and historical connections. The first part is a theoretical definition of the topic and related concepts. Further, the development of the Czech Republic debt is chronologically described since the establishment of the independent state in 1993 until the present. There are specified the consequences of the state debt with GDP indicator and with development of unemployment. The thesis describes the causes and consequences of the state debt origin, as well as risks associated with its long-term effects. There is described a historical context of the debt origin, possibilities and methods of its funding. This thesis also deals with state debt in the EU countries. The practical part evaluates the current situation and future trends, furthermore the evolution of debt in selected EU countries is analysed and the Czech Republic state debt is compared with the Baltic countries.
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State debt of the Czech Republic
Blažková, Gabriela ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
This bachelor thesis deals with the state debt and it is divided into two parts. The first chapter includes differences between state and public debt, way of debt financing or methods of its measurement. The development of czech state debt is described at the end of this chapter. The second chapter treats of upcoming pension reform, there are introduced current characteristics of pension system and its upcoming changes. The aim of this thesis is to find out the impact of reform measures on the state debt. The end of second chapter deals with public attitudes to the pension reform.
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