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Information complexity of strategic voting
Palguta, Ján ; Turnovec, František (advisor) ; Doležel, Pavel (referee)
This thesis in political economy considers the concept of strategic optimisation of voting behaviour under imperfect information. Under strategic voting we understand an act of voting for other than voter s best preferred (order of) alternatives. Motivation for this thesis comes from the empirically witnessed fact that a substantial portion of the electorate votes for their second or third best preferred alternatives, seeing that their most preferred alternatives face in expectation low probabilities of voting success. At other instances, the voters vote strategically with the intentions of strengthening the coalitional partners to their best choices or to weaken the coalitional partners of the undesired parties. Despite to the evident individual rationality of the strategic voting, strategic voting is typically socially suboptimal. Strategic voting leads to social choices that do not reflect the truthful preferences of the public. Via a series of computation-based simulations the thesis studies the relative vulnerability of the most common voting procedures to strategic manipulation. The thesis categorizes these voting procedures by their degree of susceptibility to voting manipulation. By standard econometric techniques it confirms that strategic voting is most threatening in small groups,...
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Multinational corporations - determinants of their impact on the national economy on the example of automotive industry
Kareš, Ondřej ; Turnovec, František (advisor) ; Tegze, Miron (referee)
This thesis discusses the question of multinational enterprises (MNE), international production and their impact on the national economy. In the beginning it considers the theoretical reasons for the occurrance of multinational corporations and incentives for their behavior. On some stylized facts it illustrates their significance in the world economy and Czech Republic. The new method of international production is then demonstrated on the example of the automotive sector, as an industry dominated by huge MNE both on the side of original equipment manufacturers and in the whole supplier base. In the last section spillover effects of MNE on national firms are analyzed on the data from the Czech manufacturing industry in the years 2000 -2005. Powered by TCPDF (www.tcpdf.org)
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European regional policy : reduction of regional disparities in EU
Vančurová, Petra ; Turnovec, František (advisor) ; Schneider, Ondřej (referee)
This study is focused on Regional Policy of European Union, mainly on EU regional policy evaluation with respect of its impact on convergence, in accordance with the reduction of regional income and unemployment rate disparities. The Aim of this study is to examine the convergence within the European Union at regional level. I focus on a measure of regional income disparities in per capita GDP in European Union. For this purpose I chose a comparative analysis of income regional disparities based on the "core-periphery" theory. The data used for this analysis covers fifty years of European Communities since the foundation of EC till present EU25. Powered by TCPDF (www.tcpdf.org)
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Asian Financial Linkages: The Case of Japan
Fialová, Anežka ; Horváth, Roman (advisor) ; Turnovec, František (referee)
This work reviews the topic of international financial linkages, including theoretical definitions and the main methodological approaches of the empirical measurement based on vector autoregressive models. One of the approaches, the Spillover Index methodology based on Diebold & Yilmaz (2009), is then used to analyze the developments of financial linkages of the Japanese stock market in the period from 1995 to 2012. The attention is paid both to the relations with western developed economies and within the region of East Asia. The main contribution of this paper is the fact that it comprises a complete review of international relations of Japanese stock market during the era of unprecedented financial liberalization. The results of the empirical study confirm the opening of Japanese stock markets towards foreign influence. Even though USA have been the major driving force behind the movements in East Asian stock markets, Japan has become a significant regional player, whose influence on East Asian countries has been growing. The developments in the Japanese stock market are on the other hand driven solely by the western developed countries, which further supports the view of Japan as the regional financial leader.
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The Relation Between the Euro Cash Changeover and the Perceived Inflation in the Baltic Countries
Orosz, Előd ; Dědek, Oldřich (advisor) ; Turnovec, František (referee)
The relation between the euro cash changeover and the perceived inflation in the Baltic countries Abstract This thesis focuses on the effect of euro cash changeover on inflation perception, and its relation to the inflation measured by central banks or by national statistical offices. We present an analyses of inflation gap in Estonia, Latvia and Lithuania at the euro introduction and detect its determinants by econometric methods. We use Ordinary Least Squares, Random Effects Generalized Least Squares and Fixed Effects estimator. The thesis is divided into two main parts. The first part examines the theoretical background of perceived inflation and focuses at the phenomenon of increased inflation gap at the euro introduction. Second part contains an empirical study on inflation gap. We find out that perceived inflation in Baltic countries does not show such a divergence, as it was presented at the establishment of the Eurozone. Moreover, we find out that education and available income in general has a small, but evincible effect on inflation gap observed at euro introduction.
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European Cohesion Policy: Did It Succeed in Lowering of Regional Disparities?
Svrčková, Lucie ; Turnovec, František (advisor) ; Reichlová, Natálie (referee)
The master thesis provides with an insight into the issue of regional problematic in the European Union. Theoretical background illustrating basic facts about institutional structure, historical development and justification for the existence of common structural policy, and further facts about possible welfare influence of this redistribution instrument, is followed by analysis of income disparities across the EU, both at the national and regional level, and their development during recent two decades. Redistributive effects of the EU regional expenditures are evaluated, in terms of the extent to which they have been aimed at weaker rather than more prosperous parts of the Community. In consequence, effectiveness of RP is examined; regression models for regional disparities try to show whether there has been a positive relationship between the EU structural resources and narrowing of averaged income gaps across the Union. My practise is slightly different from most of the empirical work on this issue as I try to explore RP effects both for particular EU countries and for the EU as a whole.
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Economic Integration in North America: Theory and Reality of Rules of Origin
Dotřelová, Anna ; Benáček, Vladimír (advisor) ; Turnovec, František (referee)
Rules of origin are a somehow overlooked but crucial feature of the free trade areas. Although they eliminate the threat of trade deflection, they may also cause significant increase of the compliance costs, resulting from changes of producers' behavior. In the first part of this work the impact of restrictive rules of origin formulation will be described. In the later part the attention is focused on the rules of origin in the North American Free Trade Area, their specification as well as their impact on trade. We use a new approach of estimation of the compliance costs of the preferential treatment, based on detailed elaboration of the Harmonized Schedule of the United States and de-aggregated import data on HS6 level. Our result suggests that NAFTA's compliance costs are somewhere between 4.6% and 4.9% percent of the goods import value.
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Further Exploration of Centralisation and Strategic Delegation
Gregorová, Lenka ; Turnovec, František (advisor) ; Mlčoch, Lubomír (referee)
The thesis provides with an insight into the problem of fiscal centralization and decentralization from the political economy perspective. It mainly focuses on the concept of strategic delegation. The strategic delegation describes a situation, when voters do not vote for a candidate according to their own preferences and purposely pretend biased preferences. The effect of the strategic delegation plays very important role because it can distort outcome in centralization so that the centralized decision-making fails to internalize policy externalities. In the thesis, voters' incentives to delegate strategically are explored in two decision-making settings; centralization and decentralization. The presented model concerns decision-making on public goods provision in two regions with positive externalities. The analysis includes different types of public goods; neutral goods, strategic substitutes and complements. Moreover, the model is extended by a bargaining game showing that voters can delegate a policy-maker strategically to improve her bargaining position .
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Possible incidence of Turkish EU accession: development of migration flows
Glazar, Ondřej ; Strielkowski, Wadim (advisor) ; Turnovec, František (referee)
In this thesis we apply the panel data estimators on the migration data from 18 European Countries into Germany to construct forecast of future migrations. Based on the estimated results we forecast the migration flows from Turkey into the European Union. In the first two chapters the framework and background of the Turkish EU migration is described and migration as a stand alone economic phenomenon. In a main part of the thesis the first two sections are combined. The panel data model is constructed and the data are successfully tested for cointegration. We find that the seemingly unrelated regressor is the most efficient estimator in this framework. Results reveal that the network effect is the strongest driver for the migration followed by the target country labour market conditions and the income effect is actually relatively small. Particularly, the Turkish income does not have any effect on migration, because it is entering the model in a two variables that are working against each other. Also the low importance of opening a labour market is found. Finally the estimated coefficients are used to predict migration to Germany and through appropriate extrapolation to the whole European Union. Three scenarios of migration were created and the sensitivity of estimated coefficients on migration from...
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