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The impact of economic freedom and finance accessibility on new firm formation
Mattanelli, Matyáš ; Mareš, Jan (advisor) ; Novák, Jiří (referee)
This thesis investigates the effects of economic freedom and finance accessibil- ity on new firm formation. The former is proxied by the Index of Economic Freedom and its subindices published by The Heritage Foundation, while the latter is represented by four characteristics of the country's financial system re- trieved from the World Bank's Global Financial Development Database. The dependent variable is proxied by the measure of new business density obtained from the World Bank's Entrepreneurship Survey and database. As a result, the data set employed in this thesis is an unbalanced panel consisting of 136 countries observed between the years 2006 and 2017. Given the inclusion of past realizations of the dependent variable, the models are estimated by the dynamic panel estimator System GMM. The variables found to affect new firm formation positively and with a statistical significance are economic freedom, financial freedom, and rule of law. The last variable captures the degree of pro- tection of property rights and the country's level of corruption. On the other hand, the findings suggest that countries with less stable banking sectors enjoy greater new firm formation rates. No significant relationship has been found between financial access and new firm formation.
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Fiscal Decentralization and Economic Growth in EU Countries: Role of Institutional Mechanisms
Ting, Ka Yee ; Young, Mitchell (advisor) ; Bruno, Randolph Luca (referee) ; Svoboda, Karel (referee)
In the past three decades, there is a growing trend of conducting fiscal decentralization in both transition countries and developed countries. The primary reason for this interest is the theoretical prediction that fiscal decentralization could promote economic development through enhancing or improving the efficiency of the public sector. Despite general acceptance of the contribution of fiscal decentralization to economic growth in theoretical literature, none of the previous fiscal decentralization studies have been successfully verified the growth effect of fiscal decentralization. Moreover, a majority of the empirical research analyzes the relationship without taking institutional factors into consideration, which may result in a biased conclusion. Utilizing fixed effects panel data regression models, this thesis is dedicated to examining the impact of fiscal decentralization on economic growth across 27 EU countries over the period 1995-2015. It first analyzes how the effect of fiscal decentralization on economic growth could differ in Western European (WE) and Central and Eastern European (CEE) countries. Then, it examines the complementarity between fiscal decentralization and well-established institutional mechanism in enhancing economic growth in these two groups of EU countries by...
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The relationship of cultural and non-cultural characteristics of countries with the sharing economy size
Filonau, Ilya ; Chytilová, Julie (advisor) ; Cahlík, Tomáš (referee)
Within the thesis, the concept of sharing economy is described and the relationship of cultural characteristics among different countries with its size and adoption is examined. The main aim is to understand whether cultural characteristics are significant at explaining the rate of adoption of sharing economy. The relationship between sharing economy size and non-cultural characteristics is assessed as well. This is done with the use of regression analysis. Keywords: Sharing Economy, Digital Platforms, Hofstede, Cultural Dimensions, Internet Penetration, Economic Freedom Author's email: ilya.filonau@gmail.com Character count: 86 841
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THE POLITICAL ECONOMY OF TATMADAW: Are Natural Resources A Barrier To An Economic Transition In Myanmar?
Kumbun, Lanung Tu ; Benáček, Vladimír (advisor) ; Růžička, Ivan (referee)
Myanmar's economic freedom is ranked the lowest amongst ASEAN countries. Thus its fact that Myanmar's economy is interfered with by the military regime - The question "Why economic growth and prosperity?" needs to be analyzed in order to understand Tatmadaw's intervention in the economy. The "Are natural resources a an economic transition in Myanmar?" and "How does Tatmadaw control natural resources?" The hypotheses I test here are: (1) "The abundance of entrepreneurial society." (2) "Natural resources are an important factor enabling Tatmadaw to game." (3) "Natural resources partially trigger and fuel civil war between Tatmadaw and ethnic armed groups due to contesting resource grabs." And (4) "China's resource hunger is conducive to Tatmadaw to exploit natural resources". In my
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Happiness and Income
Machová, Veronika ; Cahlík, Tomáš (advisor) ; Pertold-Gebicka, Barbara (referee)
This thesis examines relationships between average national subjective well-being and three economic factors-income (expressed as gross domestic product [GDP] per capita), unemployment, and economic freedom-applying fixed effects, random effects, and correlated random effects methods on panel data for countries worldwide, which are divided into three groups based on their level of development. Two measures of subjective well- being-feeling of happiness, and life satisfaction-are used, and the outputs are then compared for both. The results indicate that all three factors have a significant impact on subjective well-being, and GDP per capita seems to be the strongest determinant thereof. Moreover, the findings differ depending on whether life satisfaction or happiness is used as the measure of subjective well-being. The effects of GDP per capita and economic freedom are higher on the former than the latter.
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The Determinants of Software Piracy in European Countries
Kozlova, Alina ; Janíčko, Martin (advisor) ; Babin, Jan (referee)
This thesis's main focus is to test the influence of selected growth factors on the rate of software piracy in 25 European countries. The model uses the following determinants: GDP per capita, the Gini coefficient, GNI per capita, gross domestic spending on research and development, the share of labor force with tertiary education, index of economic freedom, intellectual protection rights index and internet coverage. Based on data for the years 2007 - 2011 I present 5 econometric models, which are estimated with the help of a panel regression. It turns out that economic factors such as GDP and GNI per capita, have a negative impact on the piracy rate and annual growth of internet users supports increasing level of piracy. The other determinants do not significantly affect the piracy of software, but the negative direction of the growth of the workforce educational level on piracy was confirmed.
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Comparison of the Development of Selected Components of Economic Freedom for Slovakia and Romania between 2000 - 2013
Kožený, Aleš ; Ševčíková, Michaela (advisor) ; Procházka, Pavel (referee)
The aim of this Bachelor thesis is the evaluation of the evolution of economic freedom of Slovakia and Romania at the time of their accession to the EU. The theoretical part deals with the theory of economic freedom and with the methodology of its measurement. It also focuses on the process of expanding the EU and the issues related to accession negotiations. The practical part of this work analyses the evolution of economic freedom in Slovakia and Romania using the regression analysis. This work analysis political and economic measures of these countries and their effect on the final rating of economic freedom as well. Said rating is then compared with the evolution of GDP. Using the example of Slovakia and Romania, this work verifies the validity of given hypothesis that the growth speed of economic freedom and liberalization of individual countries slows down after their accession to the European Union.
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Does economic freedom reduce country's suicide rate?
Fabian, Jakub ; Melzochová, Jitka (advisor) ; Brožová, Dagmar (referee)
This paper analyses the relationship between economic freedom and suicide rates in the world. Economic freedom in this study is described by two most respected indexes by Heritage Foundation and Fraser Institute, whose impact on suicideness is examined separately. This study uses cross-sectional data from the year 2012. Analysis suggets ambivalent effect of economic freedom on suicideness. Therefore, this paper divides economic freedom to two aspects: Personal economic freedom and business economic freedom. High personal economic freedom lowers the sucidie rate, while business economic freedom can act in the opposite direction and increase the suicide rate.
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Statistical analysis of the index of economic freedom
Sejk, Lukáš ; Vrabec, Michal (advisor) ; Blatná, Dagmar (referee)
The aim of this bachelor thesis is to statistically analyze the relationship between economic freedom index issued by Canadian Fraser Institute and the Index of Economic Freedom published by the Heritage Foundation in conjunction with The Wall Street Journal. Stated goal we try to achieve by means of statistical methods of data analysis. The first part shows the theoretical background of the both indexes of economic freedom and their input parameters. In the second part we try to statistically analyze the relationships between them and interpret their results. Also we look at the evolution of the economic freedom index for the Czech Republic and neighboring countries, Poland, Germany, Austria and Slovakia.This thesis would point on different results in the two indexes above, although both are trying to quantify the same socio-economic phenomenon. In conclusion, we show results, that we achieved and their possible interpretation.
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