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Sub-Saharan Africa: Infinite Indebtedness
Gazdík, Vojtěch ; Cahlík, Tomáš (advisor) ; Bauer, Michal (referee)
Sub-Saharan Africa is the poorest region in the world suffering from social, political and economic problems. The study focuses on investigation of relationship of capital flight and external debt to long-term economic growth in this region. Firstly the magnitude of capital flight is computed. Using fixed effects model and random effects model we estimate the impact of external debt and capital flight on long-term growth. Moreover the time structure of debt and its source is integrated into model. Our sample consists of 24 countries from sub-Saharan Africa over the period 1989-2008. We have found that external debt has statistically significant negative impact on growth. On the other hand this impact is economically negligible. The long-term growth is also slowed down by long-term debt and by multilateral borrowing. Concerning capital flight its effect on growth is harmful as well. JEL klasifikace: F34, O47, O55, Klíčová slova: zahraniční dluh, únik kapitálu, Subsaharská Afrika, růst
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Current account sustainability
Joppa, Filip ; Pour, Jiří (advisor) ; Šíma, Ondřej (referee)
This bachelor thesis deals with the analysis of current account sustainability in three selected transition economies that have undergone ana economic transformation about a quarter century ago. Selected economies are Bulgaria, Romania and Croatia. The thesis is divided into three parts. In the first part, the thesis deals with balance of payments, especially on current account. Follows defining of current accoount sustainability and factors that have impact on this. The third key part and at the same time the aim of thesis is assessing of current account sustainability of selected countries with emphasis on the last decade. This period has been associated with important events such as the entry into the European Union and global and financial crisis. For assessment of current account are used main indicators of sustainability supplemented with other macroeconomic indicators and economic countries´ characteristic. As emerged from the result of the thesis, after large current account deficits in the pre-crisis period, in the present the countries run current account surpluses. It contributes to their sustainability.
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Balance of payments of Slovak republic
Knišová, Miroslava ; Jiránková, Martina (advisor) ; Musiyenko, Svitlana (referee)
The aim of this bachelor thesis is to analyse external economic balance of Slovak Republic by balance of payments, investment position and external debt in years 2005-2015. Introductory chapter consists of theoretical resources which are inevitable for better understanding. Practical part is divided into two chapters. Previous findings help to evaluate the balance of payment of Slovakia in the first practical part. It focuses on the development of particular accounts and their items and looks into causes of this development. The second part contains an analysis of Slovak external relationships with the rest of the world through cumulative balances, international investment position and external debt.
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Balance of payments of Germany
Hudcová, Adéla ; Jiránková, Martina (advisor) ; Střecha, Michal (referee)
The aim of this bachelor thesis is to analyze the development of the balance of payments of the Federal Republic of Germany in the years 1999-2012. The thesis is divided into the theoretical and the practical part and contains three chapters. In the first chapter, the balance of payments and external economic balance are characterized in general. The second chapter deals with the development of Germany's balance of payments, which is analyzed on the basis of the development of its accounts during the reporting period. The last chapter focuses on the appraisal of the external economic balance of the Federal Republic through different balances, the international investment position and the external debt.
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External Economic Balance of Hong Kong
Chochol, Filip ; Jiránková, Martina (advisor) ; Fialová, Barbora (referee)
This bachelor thesis deals with the development of external economic balance of Hong Kong in the years 1998-2013. In the first chapter, the notion external economic balance is defined. The emphasis is put especially on the theory of balance of payments in light of its horizontal and vertical structure. Furthermore, the terms international investment position and external debt are explained. The second chapter focuses on the analysis of Hong Kong's balance of payments in the above mentioned period, concentrates on the development of particular accounts and their items and looks into causes of this development. Finally, the third chapter depicts the shape of external economic balance of Hong Kong through cumulative balances, international investment position and external debt.
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The external economic equilibrium of the Czech republic
Šedivý, Ctibor ; Brůna, Karel (advisor) ; Kučera, Lukáš (referee)
This thesis focuses on the theoretical conception of the Balance of Payment, its method of adjustment and stress the development of the Czech republic's Balance of Payment in period 2000 -- 2010 via analytical-descriptive approach. It defines its basic terms practical relations within framework of the horizontal and vertical outlook. Thesis's Attention is spread out between status and flow quantity. Thesis is also consist of three boxes that contain a short profile of intertemporal approach to the Common Account, sustainability of investment position and excursion to the essential theories of foreign currency exchange rate that is related to the Balance of payment tight. The end is dedicated to the "traditional" indicators of external equilibrium of the Czech republic in pre-monetary crisis era and in the present.
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External Economic Balance of the Czech Republic
Kudličková, Anna ; Žamberský, Pavel (advisor) ; Neumann, Pavel (referee)
The thesis analyses the external economic balance of the Czech Republic from 2000 till 2011 based on the balance of payments, investment positions and the external debt statistics. in conjunction with the exchange rate development. The main evaluation indicators used in the thesis are the current account balance, the basic balance and external debt. The thesis explains the causes of the development of these indicators and their consequences, considers the trend and then assess whether we can speak about a sustainable form of the external economic balance in the case of the Czech Republic.
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External Economic Balance of the Czech Republic
Beran, Michal ; Žamberský, Pavel (advisor) ; Jiránková, Martina (referee)
The thesis analyses the trend in external economic balance of the Czech Republic since 2000. The main instruments for the analysis were found in level of balance of payments and external debt statistics. The emphasis is also placed on exchange rate of Czech currency which is considered to be one of the leading determinants of external economic relations. The main goal of this paper lies in examination of past, present and also expected future trend in external balance with respect to various indicators and to comparison with other EU members, especially with Central Europe region (Poland, Slovakia and Hungary). The thesis should provide general overview of external economic relations of the Czech Republic in situation when some European countries are being threatened by deep debt crisis and in some cases the life-line from European union or International Monetary Fund must come.
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Debt relief process influence on least developed countries
Rosenkranc, Filip ; Němečková, Tereza (advisor) ; Řehořová, Veronika (referee)
Bachelor thesis examines the problem of external debt of developing countries and also the initiatives that try to solve this problem. The biggest part deals with two initiatives: HIPC (Heavily Indebted Poor Countries) and MDRI (Multilateral Debt Relief Initiative). I examine the process and evolution of these initiatives and also their results, whether total amnount of debt relief or the decrease of ratio debt indicators. I further examine the impact of debt relief processes on the participating countries, especially the increase in poverty reducing expenditures and whether the debt sustainability is reached. I emphasize critical views of these initiatives, current problems and issues that will need further attention. The debt relief process and its effects are demonstrated on the example of one particular country - Uganda.
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Process of Debt Relief in Sub-Saharan Africa
Hvoždová, Vladimíra ; Němečková, Tereza (advisor) ; Adamcová, Lenka (referee)
The objective of the thesis was to evaluate the impact of debt relief on external debt sustainability and on economic and human development in Sub-Saharan Africa. While the first chapter describes trends in volume and structure of external debt of developing countries as a whole, including causes and impacts of high level of external indebtedness, the second chapter focuses on external indebtedness and its characteristic features of Sub-Saharan countries. The third chapter deals with the debt relief committed and delivered by official bilateral and multilateral creditors (Paris Club, Heavily Indebted Poor Countries Initiative and Multilateral Debt Relief Initiative). The last chapter evaluates the impacts of debt relief on macroeconomic and human development indicators using an example of two least developed countries of Sub-Saharan Africa -- Burkina Faso and Sierra Leone.
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