|
|
Economic and legal aspects of euro adoption in the Czech Republic
NOVOTNÝ, Adam
The Czech Republic has committed itself to adopt the euro with joining the European union in 2004. Until today there has not been any political interest of setting the specific date of euro adoption due to low public approval. Currently, there is an increase of positive public opinion about euro so it is the right time to start an objective discussion. The thesis is divided into three parts. The First part describes the history and evolution of the European monetary union, Maastricht convergence criteria and the theory of optimal currency area. The second part presents possible economic benefits and costs of joining the monetary union. The third and the main part examines the real effects of euro adoption on sample of selected countries with similar characteristics. The impact of euro on main economic indicators was analysed and there has been carried out a comparison between these countries. Also the role of euro in trade of selected countries has been highlighted. Last but not least, the possible impact of euro on country competitivness has been analysed in the context of optimum currency area theory. It is expected that joining the monetary union leads to a boost of bilateral trade which harmonizes the economic cycles of trade partners. The main purpose of this part is to prove the increase of competitiveness of exporters gained from monetary union measured by the raise of the bilateral trade interconnection. Finally these two criteria - gross domestic product alignment and bilateral trade interconnection have been used to describe the suitability of Czech Republic as a candidate country for the European monetary union.
|
|
|
Plausible Effects of the Adoption of the Euro on the Czech economy: Comparison with the case of the Slovac Republic
Goralková, Nikola ; Dědek, Oldřich (advisor) ; Hedbávný, Petr (referee)
This master thesis deals with the euro adoption in the Czech Republic, comparing the possible effects of the euro adoption on the Czech economy and consequences of currency changeover after the Slovak Republic joined the eurozone in 2009. After introducing the theoretical concepts inevitable for the euro adoption, the process of preparation for the currency changeover in the Slovak Republic and the currency changeover itself will be described. Subsequently, the work focuses on the conditions which the Czech government has already met in the process of preparation for the euro adoption and which still need to be fulfilled. In addition, the Czech Republic's economic alignment with euro area countries is analyzed, especially focusing on particular areas. A significant part of this work deals with the comparison of positive and negative effects of the euro adoption in the Slovak Republic with possible impacts of euro on the Czech Republic. In the end, the emphasis is put on the strength of the Czech economy to deal with the possible future financial crisis.
|
|
|
Czech Republic, Slovakia, and the monetary integration in the EU
Bendl, Ondřej ; Karlas, Jan (advisor) ; Jeřábek, Martin (referee)
This diploma thesis focuses on the process of euro adoption in the Czech Republic and Slovakia. Regarding the time frame, it mainly covers a period of 2004-2014. Nevertheless in order to maximise plausibility of results, this thesis focuses on relevant moments beyond the above mentioned period as well. The main aim of this thesis is to analyse a variation in the relationship of both examined countries towards the process of European monetary integration. Whereas Slovakia joined the Eurozone in 2009, the Czech Republic has not fulfilled its obligation stemming from the EU membership yet. The secondary aim of this thesis is to verify the power of IR theories dealing with transfer of sovereignty on the supranational level. Thus, this paper strives to identify whether the constructivist or rationalist (for the purposes of this thesis represented by ideational liberalism and commercial liberalism / liberal intergovernmentalism) theoretic paradigm is more accurate in its attempt to explain the examined variation. In order to fulfil this aim, methods of difference and congruence are applied. However, each of these methods shows different results. According to the method of difference, an explanation based on commercial liberal / liberal intergovernmentalist logic of economic-materialistic consequences may...
|
|
|
The Evolution of Optimum Currency Area Index: Post-crisis Perspective
Kadlecová, Pavlína ; Horváth, Roman (advisor) ; Geršl, Adam (referee)
This paper estimates the determinants of exchange rate variability for 21 developed economies in 1980-1998. The results show that traditional criteria implied by the optimum currency area (OCA) theory, such as business cycle synchronisation, trade linkages and economy size, determine to a large extent bilateral exchange rate variability. Using the ordinary least squares estimation, we compute OCA indices for European economies vis-à-vis Germany and identify countries showing consistently large or little signs of convergence. We find that since 1998, most European developed economies have converged to Germany whether or not they are using the euro, suggesting that structural similarity is not driven solely by monetary integration. Our results from the model estimated by the generalized method of moments suggest that two additional criteria reflecting labour market flexibility and private credit growth are significant in explaining the exchange rate variability and lead to a ranking of countries different from the traditional approach. We find a positive relationship between the OCA indices and GDP decline during the economic crisis of 2008-09, which further supports the view that the OCA index is a useful indicator of the candidates' readiness to join the Euro Area. We apply the results to the...
|
|
|
The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2013). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2013. 74 p. Rigorous thesis (PhDr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Rigorous thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present rigorous thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. Keywords competitiveness, euro adoption,...
|
|
|
A Reflection on the Question of Single European Currency Adoption in the Czech Press
Obenbergerová, Linda ; Křeček, Jan (advisor) ; Kyjonková, Petra (referee)
Diploma thesis "A Reflection on the Question of Single European Currency Adoption in the Czech Press" deals with an analysis of media picture of the transition of the Czech Republic to the common currency euro in Czech media. With the help of the quantitative method of content analysis and the qualitative method of grounded theory, articles from the dailies Hospodářské noviny and Právo are being analysed. The sample includes articles from the beginning of May 2004, the accession of the Czech Republic to the European Union, until the end of April 2011. Quantitative content analysis enables comparison of both of the periodicals by means of organization and general summary of quantifiable data from the articles. The method of grounded theory regards the examined collection as a whole and provides detailed analysis of the sample in order to identify hidden structures of the text. The focus of this work is articulation of the media image of the European common currency adoption in the Czech Republic, based on the partial outcomes of the research project. This text as an extension of the bachelor thesis "The Image of Euro Adoption in Czech Press" uses its outputs in addition to the revision of the research with a broadened sample, mapping seven years of development of the topic. Consequently, scope for...
|
|
|
The Impact of Euro Adoption on Competitiveness: The Comparison of Czech Republic and Slovakia
Polyák, Oliver ; Dědek, Oldřich (advisor) ; Martišková, Monika (referee)
Bibliographic citation POLYÁK, Oliver (2012). The impact of Euro Adoption on Competitiveness: The comparison of Czech Republic and Slovakia. Prague, 2012. 71 p. Master thesis (Mgr.) Charles University in Prague, Faculty of Social Sciences, Institute of Economic Studies. Master thesis supervisor prof. Ing. Oldřich Dědek, CSc. Abstract The present master's thesis is focused on the impact of introducing the common European currency on competitiveness of a country. There has been a lot written about the possible effects of euro adoption on economies of the first eurozone participants. The contribution of this thesis is that we explore the impact of euro introduction on competitiveness of Slovakia, in comparison to the Czech Republic which still uses its own national currency. Our findings suggest that most of the analyzed competitiveness indicators evolved largely in parallel in both countries. Positive trade effects brought about by the introduction of the euro are rather moderate - up to 5%. Slovak credit development was more favorable during the crisis, reflecting lower interest rates in eurozone. On the other hand, high contributions to European stabilization funds may hamper Slovak economic growth and negatively influence country's competitiveness in future. JEL Classification F14, F15 Keywords...
|
|
|
Ekonomické přínosy členství v EU: empirická analýza
Zhitina, Anna ; Klosová, Anna (advisor) ; Villaverde Castro, José (referee)
This master thesis is devoted to the empirical analysis of the economic benefits of EU membership. The analysis aims to investigate what is the impact of EU membership on growth of the real GDP (in constant prices), unemployment rate and inflation rate for 16 states entering EU after the year 1995 (analysed period of years is 1991-2014). The applied method for evaluation in the current work is econometric analysis of panel data. The first part of the thesis is devoted to the literature review. The second part is describing data and variables that will be used for analysis, development of these variables over the time and stationary testing. The third part is dedicated to the regression analysis and includes models for GDP growth, unemployment growth and inflation. The last part of this master thesis will sum up the results and findings of previous parts. The main source for the data used in this work is the statistical database of World Bank (2016).
|
|
|
Logistics management of money circulation
MAŠKOVÁ, Kateřina
The main objective of this thesis was to map the logistics system coins and notes circulations in the Czech Republic and design a system of logistics activities in the exchange of cash money, when Czech Republic adopts the single European currency. The secondary aim was to describe the current currency exchange preparation and propose an optimization based on currency conversions in the past and in other states. The important was to get the information by structured interviews with technical staff Czech National Bank in Prague and with former director of the Czech National Bank in the Czech Budejovice. Based on the information was described distribution chain of cash money. Part of this thesis is devoted to the current issue of the introduction of the euro in the Czech Republic. The exchange of cash money is the most visible element of currency change. Also puts the greatest demands on the logistics management. Based on the information about the euro changeover in other states have been proposed recommendations for the Czech Republic.
|
|
| |
guest ::
