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Globalization, Rule of Law and Wealth Inequality
Svěchotová, Anežka ; Horváth, Roman (advisor) ; Schwarz, Jiří (referee)
We examine the determinants of wealth inequality using new dataset consisting of a rich set of explanatory variables including rule of law, as well as different measures of globalization. We use the Bayesian Model Averaging (BMA) approach to account for model uncertainty. The BMA methodology allows to thoroughly compare a large number of potential determinants. Due to large differences in wealth inequality across different countries, the variables included reflect countries' various aspects, namely economic, geographical, regulatory, institutional, finance, globalization, political and demographic factors. Examining 39 potential determinants, we find five robustly related variables. Among them there are three financial development indicators, GDP growth and one geographical dummy for countries in Latin America and the Caribbean. On the other hand, some of the measures of globalization are correlated with wealth inequality; however, they are not its determinants. JEL Classification C33, E21, G51 Keywords wealth inequality, globalization, Bayesian Model Averaging (BMA) Title Globalization, Rule of Law and Wealth Inequality
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Analysis of consumers' preferences for cars on Slovak market.
Nedeľka, Michal ; Ščasný, Milan (advisor) ; Sargsyan, Yermone (referee)
This thesis investigates the effect of registration tax and fuel prices on the car market in Slovakia. Using the dataset provided by the Department of Evidence and Papers of Slovak Police Force with information about vehicles that entered the national car evidence, we compute monthly registrations of passenger vehicles. Given the nature of our data, we estimate pooled OLS model with fixed effects, focusing on different vehicle segments. We also analyse fuel price elasticity when prices were mostly decreasing or increasing to examine asymmetric response of car buyers. Results suggest a negative impact of the registration tax on the number of registrations of petrol vehicles with a stronger response of fuel efficient cars compared to less efficient. In the segment of diesel vehicles, only registrations of used and less efficient cars are affected by the tax. The elasticity of registrations with respect to fuel costs is negative for all car segments except for the new efficient petrol-fueled vehicles. Registrations of diesel vehicles are more sensitive with respect to fuel price changes than petrol cars in most segments. We also find an asymmetric response to fuel prices during the periods of price increases and decreases and declining responsiveness over time. JEL Classification C23, O18, Q31, R41,...
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A Panel Data Analysis of Sub-Saharan Africa's Economic Growth
Hostačný, Jakub ; Cahlík, Tomáš (advisor) ; Bobková, Božena (referee)
This thesis examines the relationship between real GDP per capita growth rate of Sub-Saharan Africa countries and various variables suggested by theoretical literature related to Solow model or endogenous growth theories. The set of most commonly used variables is further extended by additional variables which have not been given an ample attention in the context of analysis of SSA countries' economic growth so far. The econometric analysis uses unbalanced panel data set comprising annual observations on 45 SSA countries between 1980 and 2011 applying a simple pooled OLS and FE estimation. We also touch IV estimation to address endogeneity problem. Moreover, we test the sensitivity of parameter estimates. Along with the analysis of total set of SSA countries, we subgroup countries into 4 groups - oil exporters, middle-income countries, non-fragile low-income countries and fragile countries. We present results for each group. The results support the findings of earlier empirical studies related to most commonly variables associated with economic growth, except the negative effect of population growth rate and conditional convergence hypothesis. The analysis of additional factors reveals the strong relevance of latitude, colonial heritage and landlockedness, while no systematic effect of neither...
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How Smart will be Europe 2020? A Panel Data Analysis.
Marková, Veronika ; Cahlík, Tomáš (advisor) ; Moravcová, Michala (referee)
This thesis analyses the targets for education under Europe 2020 strategy - early leavers from education and tertiary education attainment. The main objective is to predict the future development for these indicators up to 2020 and answer the question whether these targets will be fulfilled. From the empirical perspective, it applies econometric analysis of panel data based on human capital theory, that relates the education level of an individual with the parental education and the labour market conditions.
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A Panel Data Investigation of the Military Spending - Economic Growth Nexus in the EU
Uchman, Krzysztof Jerzy ; Aliyev, Shahriyar (advisor) ; Schwarz, Jiří (referee)
The thesis examines the relationship between economic growth, investment, and military expenditure, utilizing a balanced data panel for 14 European countries over three periods: 1970 - 1991, 1992 - 2020, and 1970 - 2020. A vector autoregression model was applied to estimate the relationship for the European population. Regression of the 14 European countries over the entire period of 1970 - 2020 has yielded neither statistically significant autocorrelation nor cross-correlation between the studied variables. The same is true when regressing the 14 countries in the period 1992 - 2020. For the same group of European countries in the period 1970 - 1991 some statistical significance has been found in the autocorrelation between investment as a share of GDP and its lags. It appears that the introduction of a time break between year 1991 and 1992 (the fall of the Iron Curtain) has no impact on the studied relationship for the selected group of countries and the time period. The results of the thesis suggest no identifiable relationship between the variables for the chosen European sample of 14 countries.
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Trends and Patterns of Meat Consumption in The European Union
Teiml, Matěj ; Pleticha, Petr (advisor) ; Ehrenbergerová, Dominika (referee)
The goal of this thesis is to research the consumption of meat in the European Union and to look for trends and patterns regarding the consumption. We will take advantage of the panel data structure and use our own balanced panel data set to properly verify and quantify the relationship of macroeconomic, and country specific variables with annual meat consumption per capita. We used data covering the consumption of meat in the European Union member countries in the year of 2018, with data ranging from 2000 to 2018. All data in our thesis are annual and aggregated at the level of single European Union member countries. We used standard panel data analysis tools to reach statistically significant results to recognize and estimate the important determinants of meat consumption in the European Union
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Decent Work and Economic Growth-Analysis of the Sustainable Development Goal 8
Letovská, Vendula ; Cahlík, Tomáš (advisor) ; Kopečná, Vědunka (referee)
Sustainable Development Goals are focused on international cooperation in the field of socioeconomic, political and environmental issues. This bachelor's thesis deals with Goal 8, which promotes achievement of sustainable economic growth, decent work and full employment, and examines three indicators of the goal: annual growth of GDP per capita, domestic material consumption and the rate of unemployment. Thesis is based on the panel data analysis of 132 countries, which were obtained from the World Bank and Sustainable Development Goals databases for selected variables as observed in the time period of 2000 - 2019. According to the regression results, variables education, inflation, adjusted net savings and unemployment rate report significant effects on the annual growth of GDP per capita. Similarly, unemployment rate is strongly affected by the level of obtained education and inflation, as well as by the growth of population and GDP per capita. Inference of domestic material consumption did not uncover any statistically significant variables. Evaluation of the best-fitted forecast models does not predict a strong probability of actually fulfilling the goal or at least its sub targets by the agreed deadline. Thus the Goal 8 proves to be difficult to achieve only a few years after the introduction...
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Trends and Patterns of Meat Consumption in The European Union
Teiml, Matěj ; Pleticha, Petr (advisor) ; Ehrenbergerová, Dominika (referee)
The goal of this thesis is to research the consumption of meat in the European Union and to look for trends and patterns regarding it's consumption. We will take advantage of the panel data structure and use our own balanced panel data set to properly verify and quantify the relationship of macroeconomic, microeconomic, and country specific variables with annual meat consumption per capita. We used data covering the consumption of meat in the European Union member countries in the year of 2018, with data ranging from 2000 to 2018. All data in our thesis are annual and aggregated at the level of single European Union member countries. We used standard panel data analysis tools to reach statistically significant results and concluded that individual propensity to consume meat varies between countries of the European Union and found evidence suggesting that urbanization and labour force participation impact meat consumption significantly.
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Sustainable Development Goal Nr. 1: End of Poverty
Komorová, Anežka ; Cahlík, Tomáš (advisor) ; Fanta, Nicolas (referee)
Nowadays, the question of the Sustainable Development Goals (SDGs) seems to get more and more attention. This bachelor thesis focuses on the first goal - end poverty in all its forms everywhere. There is a great number of literature which examines possible determinants of poverty in order to create effective strategies to fight witht it. Majority of them focuses on the study in particular countries or regions since their data are easier to access. On the contrary, this thesis examines variables and their effect on extreme poverty in the world with the use of the econometric analysis on panel data. There are seven independent variables used: GDP per capita, Gini index as a proxy variable for income inequality, population growth and four education attainment levels - no education, primary, secondary and tertiary. The World Bank was chosen as the primary source of data with a great number of observations from 125 countries over time period of 2000 and 2017. According to the results of the study, explanatory variables GDP per capita, income inequality, no education and tertiary education significantly affect extreme poverty. Also, the results show that the goal of 0 % is unlikely to be fulfilled by the year of 2030. To sum up, the first goal of the SDGs turned out as too ambitious. For its...
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Municipal Waste Management and Analysis of Influencing Factors with respect to Municipal Solid Waste Generation
Kmeťková, Diana ; Cahlík, Tomáš (advisor) ; Kopečná, Vědunka (referee)
This thesis presents the topic of municipal waste management in the Czech Republic and describes the current trends within this area. We analyse the data on the generation and treatment of municipal solid waste in the Czech Republic and then we compare several waste indicators in the EU countries. The main goal of the thesis is to describe the relationship between municipal solid waste generation (MSW) and socio-economic factors. In order to identify the variables that might have a significant impact on the generation of MSW, we carry out a panel data regression using data from 28 EU countries over a time period from 1995 to 2017. We present four model specifications that were created based on the studied research articles. Our findings suggest that GDP and income have a significant positive impact on MSW generation, which is in accordance with the majority of research works. On the other hand, two other significant variables, population and density, are estimated to be negatively related to MSW production. Moreover, urbanization and unemployment rate result to be insignificant. 1
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