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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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Index ekonomické svobody, případ České republiky
Shrbený, Filip ; Stroukal, Dominik (advisor) ; Máslo, Lukáš (referee)
We have identified number of possible advices for the Czech Republic to improve its rating for both Heritage Foundation and Fraser Institute Economic Freedom Index, which often leads to top 10 countries in the world. These advices range from cuts in government spending, betterment in judicial system, to the establishing healthier environment for startups and advices to combat corruption. We further noticed some divergence between above mentioned indexes and managed to evaluate those indexes, which showed the simplicity yet usefulness of Heritage EFI and flexibility and sensitivity of the Fraser EFI. Weak sides of the research were noted and ideas for further research were given.
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The value of life from macroenomic point of view in United States of America, Czech republic and Russia between years 2007-2014
Antoš, Michal ; Zeman, Martin (advisor) ; Brabec, Petr (referee)
The subject of this bachelor thesis is the research of the value of life calculation in the Czech republic, United states of America and Russia in 2007-2014.The main purpose is to analyze and compare values of life and major factors influencing them. The hypothesis is that value of life differs in selected countries due to distinctions of sections influencing them. The theoretical part is devoted to sections directly or indirectly influencing values of life, and then analyzing and comparing them together within the selected countries. The selected sections are education, health care, labor market, inequality and living standards. The practical thesis approach is to calculate the values of life for the individual states. The values of life are calculated for so called, representative individual, who is 40-years old citizen of selected country. In the period, in which is the value of life calculated, the retirement age and life expectancy are also considered in formula. Calculated values are examined and the economic and political measures are offered to the states, which can turn into significant increases in the value of life in future.
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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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Fiscal rules in selected EU countries between 2004-2015: sensible method for consolidation of public finances or fad of politicians?
Veselý, Lukáš ; Strejček, Ivo (advisor) ; Chmelová, Pavla (referee)
The subject of fiscal rules is very topical issue. The rise of public debt in certain developed countries resulted in what is sometimes called "debt crisis". Debt of those countries which is higher than their annual gross domestic product is viewed as unpayable by some economists. The main objective of this thesis has been to prove or disprove hypothesis that the fiscal rules studied in this paper are an effective solution for public finance consolidation. This verification was based on the analysis of fiscal rules functioning in selected countries between 2004 and 2015. As per results of analysis the paper aims to give recommendations for the Czech financial constitution proposal. The actual results of inquiry proved the hypothesis. Well-chosen fiscal rules are the right way towards fiscal consolidation, provided they are observed. Fiscal rules making thus requires an emphasis to be placed on the well-formulated exit clauses altogether with prospective sanctions. The current Czech financial constitution proposal is built on the correctly picked fiscal rule type, although the reference value lacks economic sense and it would not lead, with a high degree of probability, towards fiscal consolidation.
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Economy of Chile in 1960s and 1970s with Accent on Market Reforms after 1973
Strejčková, Klára ; Pekárek, Štěpán (advisor) ; Ševčík, Miroslav (referee)
This bachelor thesis puts the stress on the analysis of economic reforms approved in Chile in the 60's and 70's years of the 20th century. The focus of this work is profoundly dedicated to the analysis of two important macroeconomic indicators: developments of inflation and trade exports, bearing in mind the context of the coup in 1973 which is seen as a direct consequence of the communist rule of the Salvador Allende's Cabinet (1970-1973). The Allende's Cabinet strove to transform the Chilean economic society into a socialist one. The bachelor thesis has validated a hypothesis stating that the pro-market reforms approved after 1973 led to diversification of the Chilean export as well as a gradual and progressive stabilization of the country's inflation that had reached as 350 % during the socialist Allende's government. This work brings a comparison of two very different economic doctrines that formed Chile in the 70's of the last century. There is being compared a socialist government approach, having focused on nationalizing of the private sector, to the liberal government's approach aimed at decreasing the public sector, privatization as well as tearing down international trade barriers.
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Innovation activities in Germany in the context of smart specialisation
Vlčková, Markéta ; Vlčková, Jana (advisor) ; Vošta, Milan (referee)
Economic growth is slowing in many countries. It leads to a discussion on what sources of growth should countries focus. For this purpose, EU created the concept of smart specialization, which puts an emphasis on the most efficient use of public financial resources dedicated to research and development. The aim of this thesis is to find out on what industry Germany as a leader of EU innovation and its individual regions specializes and to identify potential areas for targeting resources to innovation, research and development. This will be determined by using the patent network. The secondary objective is to interconnect findings of patenting and analysis of innovation activities in various regions of Germany with international trade and to determine whether there is a correlation between innovation activity in a particular sector and export of the sector's products abroad.
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