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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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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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Zdieľaná ekonomika a cestovný ruch
Žabková, Tatiana
Žabková, T. Sharing economy and the tourism industry. Bachelor thesis. Brno: Mendel University in Brno, 2017. Sharing economy is a relatively new, dynamically developing sector. Over the ten years of its operation, it has obtained the favour of millions of people around the world. The Airbnb Internet portal, which offers the sharing of living spaces and denotes its rapid expansion, is one of the main representatives of the sharing economy. The aim of the work is therefore to find out if Airbnb has an impact on the hotel industry, specifically in the Slovak Republic. The first part which relates to theoretical backgrounds familiarizes the reader about the sharing economy and Airbnb. In the second, analytical part is carried out a descriptive analysis of Airbnb and the hotel industry in Slovakia. Subsequently, individual hypotheses related to the influence of Airbnb on the Slovak hotel industry are analyzed by panel data analysis. In the discussion, the obtained results are further commented on and the potential future development of Airbnb in the state is sketched at the end.
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Vliv měnové politiky na vybrané akciové trhy
Šikula, Jiří
The diploma thesis deals with the identification of influence of the monetary policy on stock markets in the developed countries where central banks accepted usage of the unconventional tools of monetary policy. The effect of monetary policy is observed on stock prices of 200 blue chip stocks of companies emitted in USA, UK, EU and JAP. The influence of the unconventional monetary policy will be examined in empirical part of the diploma thesis via panel regression analysis with focus on verification of portfolio rebalance channel of the transmission mechanism.
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Přímé zahraniční investice v zemích Visegrádské skupiny
Paulík, Libor
This diploma thesis discusses the analysis of factors influencing foreign direct investment in Visegrad countries. The first part of the thesis defines the basic concepts, their brief characteristics and their distribution in the area of foreign direct investment. Another part of the thesis deals with the qualitative analysis of the investment environment in the Visegrad Group countries followed by a qualitative analysis of selected factors influencing foreign direct investment in Visegrad countries. The last part of this diploma thesis is a quantification of selected factors by multidimensional regression analysis and a regression analysis of panel data. The results obtained show that the main factors influencing foreign direct investment in the Czech Republic are the labor costs, the level of taxation and quality of the institutional environment. In Slovakia and Poland, the main factors are economic growth, the level of taxation and the quality of the institutional environment. In Hungary, the main determinants are economic growth, labor cost, the level of taxation and the quality of institutions. Within all Visegrad countries, the main factors are economic growth, labor cost, the level of taxation and the quality of the institutional environment.
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Vliv (neformálních) institucí na hospodářský růst
Ptáčková, Miroslava
The aim of this diploma thesis is to demonstrate influence of informal institutions on economic growth. Informal institutions are described by amount of tax evasion and amount of corruption because these factors reflect culture, moral values of society and settings of formal institutional environment. Relation is empirically verified by correlation analysis and panel data analysis. This analysis is executed on a sample of 23 countries of OECD and it is linked with a period from 1999 until 2010. Basic model of panel data analysis is built on the neoclassical growth theory. Then institutional variables are included and sorted into this model. Results of empirical analysis are discussed in conclusion.
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Príjmová nerovnosť a jej vplyv na ekonomický rast krajín EU
Muchová, Natália
This diploma thesis focuses on income inequality and its impact on economic development in the EU member states. The literature overview deals with description of income inequality and identifies its causes, consequences, methods of measurement and possible solutions. The relationship between income inequality and economic growth is examined through panel data analysis and cluster analysis.
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Ekonomický rast a rola finančného systému
Nosáľová, Karolína
The diploma thesis examines what is the role of financial development in the context of economic growth. The most influencing factors of the financial development are selected based on panel data regression. Determinants of the financial development represent both the banking sector and the financial markets. Panel of 42 European countries over the 1996-2015 period is analysed. The effect is controlled on the other three groups of countries. The results indicate an~ambiguous impact of the financial development on economic growth. Based on the analysis results recommendations are formulated for policy makers and investors.
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Faktory ovlivňující příjmovou nerovnost
Koukalová, Pavla
This diploma thesis deals with the identification of factors that affect income inequality in the world. The literary overview describes the issue of income inequality, possible methods of measurement, projected factors of influence and the possibility of addressing income inequality. Statistical methods, in particular cluster, regression and panel analysis, are used to quantify and define the significance of the selected factors. The economic and technological level of the country, the education and the state of health of the population are key economic and demographic indicators. Each of these indicators, according to the results of the regression analysis, has a weak negative effect on income inequality, reducing it. The results of the panel analysis demonstrate that an indicator of the level of technology, education and the state of health of the population can be included among the major factors affecting income inequality in the world. The indicator of the economic level measured using per capita gross domestic product has proved insignificant, which means that while GDP has an impact on Gini’s coefficient, the other variables describe the relationship better.
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