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Is import of goods from european countries to Czech republic more or less influenced by changes in nominal and real exchange rates than in non european countries?
Vereš, Jan ; Stroukal, Dominik (advisor) ; Slaný, Martin (referee)
This bachelor thesis analyses the connection between import of goods from foreign countries to Czech Republic and the exchange rate changes. The initial hypothesis of this paper is to prove that the depreciation of domestic currency has positive influence on balance of trade balance. For this purpose there is eight econometric models which were created by using time series from years 2003 to 2016. These models are divided in pairs among four chosen countries. For each country two models were created that follow the development of trade balance between Czech Republic and one of the countries in two different time frames. All the models always use the real effective exchange rate, growth rate of GDP for Czech Republic and growth rate of GDP for one of the countries as explanatory variable. It is connected with the second task of this thesis, which is the analysis of the differences in the behaviour of the models that belong to the countries which are members of the EU and these that are not. The aim is to find out whether the existence of tariffs on imported goods from countries out of the EU causes visible differences in the behaviour of the variables that were included in the models. Based on the outcomes of all eight models the main hypothesis has been proved right for three out of four countries. In the models for Germany, China and France the relation of real exchange rate and trade balance came out as positive in long term, in short term the outcome was ambiguous. The second question of this thesis has been answered, but its added value is questionable. The final models for each state do show some noticeable differences and they can be used to determine if the influence of the change of exchange rates on trade balance is smaller or bigger in the countries where tariffs are used. On the other hand, from the results we can learn that the sample of only four countries is insufficient for the deduction of any conclusions.
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Analysis of real and nominal convergence of the Visegrad Group in the years 2000-2015
Wikturna, Jan ; Strejček, Ivo (advisor) ; Zamrazilová, Eva (referee)
This Bachelor thesis is focused on a macroeconomic analysis of the process of the real and nominal convergence of the Visegrad Group countries to the old member states of the European Union, called EU-15 during the period of 2000-2015. The objective of the analysis is to confirm or disprove the hypothesis that in the selected period there is a convergence of the economically backward V4 countries with the advanced EU-15 countries and to highlight the factors that are behind the narrowing of the gap in economics and price levels. The theoretical part deals with the ways in which we measure and compare the economic performance and economic level, and explains the different approaches of the problem of economic growth and the subsequent catching up effect. The practical part is focused on a comparison of elected macroeconomic indicators and reference is made to the selected factors to determine whether, and for what reasons, the economic convergence of these selected countries made towards the developed countries of the EU-15. The analytical part confirms the ongoing process of the real and nominal convergence throughout the period, but its course is varied during different times of the period. In conclusion, it is found that the rate varied by the convergence processes and in fact positively affected the V4 countries, that joined the European Union. The incoming dynamics of the convergence, especially the prices, were significantly disrupted by the economic crisis.
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Analysis of the Economic Development of BRICS Countries in 2007–2015
Berka, Kryštof ; Procházka, Pavel (advisor) ; Dyba, Karel (referee)
The aim of the bachelor's thesis is economic development assessment among and within BRICs countries in the context of developed world during 2007-2015. Based on yearly panel data, an analysis for following macroeconomic indicators was carried out: gross domestic product, inflation rate, unemployment rate, current account on the balance of payments, exchange rate. The profound analysis of selected indicators is instrumental in the comparison of member states and is supplemented by the comparison of BRICs and G6. Based on its evidence, I come to a conclusion that the BRICs as a whole succeeded in establishing as a strong global actor. That has been achieved with the help of global financial crisis, but also with regard to the economic policy implemented in 2007-2015. As a result, GDP of BRICs in terms of GDP of G6 achieved stable growth rate leading to its increase by 52 %. Besides providing main findings, outcomes of this thesis enable to identify main weaknesses and strengths of BRICs economies affecting the prospects for continuance of stable economic growth.
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Income tax in the Czech republic and the European union
Nováková, Marta ; Marková, Hana (referee) ; Boháč, Radim (referee)
Taxes, one of the basic fiscal instruments, form the important part of the revenue of the national budget and thus enable the state to carry out its basic functions concerning especially the allocation of monetary resources into areas like health care, social services, defence and justice. At the time of socialism the economy in some European countries was in a deep crisis. The states reacted to recession resulting from the ineffective economy by taking loans from abroad. In order to overcome such debts the states started to impose the higher tax rates on the population which enables the economies slowly to grow. As a result, the governments were gradually able to reduce the tax rates, which had a favourable impact on population as well as on enterprises. The ex- socialistic European countries progressively try to catch up the advanced countries and their standart of living and taxation is an indispensable tool how to achieve this purpose. In Europe there were several tax reforms in last years, most of them in ex- socialistic European countries. In those reforms some interesting items occurred that could be taken over in other countries. Each state has the right to determine the conditions of tax collection from taxable entities within its territory. Tax liability is established by tax laws. In each...
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Econometric test of euro adoption impact on German and Czech exports: the costs and benefits of Eurozone membership in the trade sector
Hyžíková, Mirka ; Benáček, Vladimír (advisor) ; Princ, Michael (referee)
The purpose of this study is to find the influence of common currency on the international trade development. The study deals with the Rose effect, which says, that the currency unions increase trade by more than 200%. This thesis designes an extended gravity model of international trade where the economic characteristics of countries are combined with institutional and policy factors of trade, such as the EU common policies, impacts of the Euro or trade agreements and other factors, which lowers the transaction costs of trade, such as the quality of infrastructure. The thesis also deals with the data structure influence on the results of the estimation of gravity models and shows the problem which is not in common literature noted. Compared to the common research, this thesis focus in detail only on Czech and German exports.
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Economic Relations between Czech Republic and Canada
Toulová, Jana ; Jiránková, Martina (advisor) ; Kačírková, Eliška (referee)
The topic of my bachelor thesis is Economic Relations between Czech Republic and Canada. I set goal of my thesis to be to evaluate economic relations between Czech Republic and Canada and based on the evaluation characterize current their economic relation and assess future potential. The thesis is divided into three chapters. First chapter describes economy and international trade of both countries separately, and focuses on their basic characteristics. Second chapter devotes to mutual relations and mutual trade of both countries. The historical and current situation of mutual relations is considered when assessing this matter and regarding mutual trade balance of trade, commodity and territorial structure is taken into account. Third chapter looks into the planned Comprehensive Trade and Economic Agreement between EU and Canada and expected impact on relations between Czech Republic and Canada.
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Selected BRICS countries in global commodity markets
Kocháňová, Lucie ; Müller, Štěpán (advisor) ; Taušer, Josef (referee)
Present bachelor's thesis has the aim to analyze particular countries of the BRICS group with regard to their position on the international commodity markets. The countries are the Federative republic of Brazil and Russian federation. For a brief introduction into the problem I shortly describe the origin and functioning of the commodity market and its derivates at the beginning of my work. As next I focus on characterising the BRICS group as a whole, each member's economic situation and the structure of their commodity exchange with the world. In the fundamental parts of thesis I concentrate on commodity facilities of both countries, countrie's specifications, current issues and existing trade between the Czech republic and both states. The issue of reciprocal trade and it's perspectives is further developed in the last chapter.
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The influence of trade barriers on migration between states
Břehovský, Jan ; Brožová, Dagmar (advisor) ; Čermáková, Klára (referee)
The main purpose of the thesis is to identify the nature of the relationship between the freedom and openness of the international trade and migration. My hypothesis says, that reduction in the level of trade barriers can, according to the Stolper-Samuelson theorem, lead to equalisation of the factor prices in particular economies. If the differences in wages are also reduced, decrease of the migration may occur, due to reduction in benefits and/or rise in costs of migration. The analysis is performed using two regression models looking for main determinants of the emigration and immigration. I estimated the models using panel data from selected European Union member countries over the past 15 years. The results shows, that trade openness is important factor which lowers the migration Given those results, set hypothesis was empirically verified.
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