|
|
Government investment and economic growth
RENDLOVÁ, Šárka
This thesis deals with the analysis of the effect of government investments on economic growth and private sector productivity. First, the development of these categories in the period 1995 to 2018 in the countries of the European Union are analyzed. Government investments are showed as a flow variable in the form of gross fixed capital formation of government institutions, and also as a stock variable - the total fixed assets of government institutions, i.e. public capital stock. Economic growth is analyzed by the growth rate of real gross domestic product. Private sector productivity is analyzed in four groups of branch as real gross value added per employee. Empirical estimation of the impact of government investments on economic growth and private sector productivity uses panel regression analysis including cross-sectional and period fixed effects on a sample of 28 European Union countries in the period 1995-2018. Two basic separate regression models are compiled - the first to estimate the impact of investments on economic growth, which is based on the basic macroeconomic equation of gross domestic product determined by the expenditure method. This model seeks to explain the impact of government investments by the demand side of the economy and in the short term. The second model estimates the impact of government investments on private sector productivity within three groups of main branch and is based on an adjusted production function. The analysis thus shifts to the supply side of the economy and the long term. The statistical significance of government investments was demonstrated for the first regression model and for the second regression model in the branch: Industry including energy, but with a negative sign, and Services.
|
|
|
Europe 2020 Strategy: Are National Goals Reasonable?
Břízová, Pavla ; Šmídková, Kateřina (advisor) ; Martišková, Monika (referee)
The current economic strategy of the European Union - the Europe 2020 Strategy - has defined five measurable Headline Targets to enhance economic growth and allowed the Member States to set their own national numerical values for these targets. This thesis analyses quality of this target setting process. First, it tries to figure out whether the targets have been set better than in the preceding Lisbon Strategy. Second, it examines whether the National Targets have been defined clearly and unequivocally. Third and the most important, based on original empirical analysis, the thesis evaluates whether the National Targets have been determined reasonably with respect to general capacities of individual European economies. The main results reveal that some learning from the Lisbon Strategy has been made, but the quality of the National Targets is insufficient and should be increased. JEL Classification E61, F55, O52 Keywords Europe 2020, strategy, European Union, national targets, empirical analysis, MULTIMOORA, Ratio System of MOORA, Reference point of MOORA, Full Multiplicative Form, Lisbon Strategy Author's e-mail PavlaBrizova@seznam.cz Supervisor's e-mail katerina.smidkova@cnb.cz
|
|
|
Government investment in the Czech Republic
RENDLOVÁ, Šárka
Investments significantly affect development of economy in both short-term and long-term periods. The income effect of investment has a short-term impact on the aggregate demand. Aggregate supply is influenced by the capacity effect and it only manifests in a long-term period. Many studies analyse development of government investments. Some of these analyses are cited in this work, which compares various determinants that have an impact on the size and dynamics of government investments. Preliminarily it is possible to conclude that the main determinants are economic, fiscal policy, political-economical factors. For example, in the times of economic crisis government investments are first expenditures to cut. The aim of this work is how the mentioned factors affect growth and development of the investments in the Czech Republic. In empirical analysis the data from Eurostat for period 1995-2016 are used and they are also examined in terms of size, development and structure. Then the correlation analysis is used to examine how much selected factors influence investments. After correlation analysis the regression analysis is used for generating resulting models.
|
|
|
The Convergence Process of the Czech Republic to the Federal Republic of Germany in the years 1993-2015
Křížek, David ; Vostrovská, Zdenka (advisor) ; Ševčíková, Michaela (referee)
This diploma thesis is focuses on the Czech Republic's convergence to the Federal Republic of Germany. Both nominal and real convergences on selected indicators for the period from 1993 to 2015 are examined. Firstly, a part of the convergence of the issue, its theoretical concepts and the concepts that can be used to explore this process are devoted. The necessary political, historical and economic contexts are provided which enable the Czech Republic to position itself in relation to the Federal Republic of Germany. Subsequently, the thesis deals directly with analysis of time series. Nominal convergence is judged by the Maastricht criteria, namely the harmonized index of consumer prices and the value of long-term interest rates. Real convergence is then analyzed using the GDP indicator. The last part of this work is focused on testing beta and sigma convergence hypothesis. It is thus proven that the Czech Republic's convergence towards the Federal Republic is ongoing, but it is strongly influenced by economic cycles and other shocks to the national economy.
|
|
|
Europe 2020 Strategy: Are National Goals Reasonable?
Břízová, Pavla ; Šmídková, Kateřina (advisor) ; Martišková, Monika (referee)
The current economic strategy of the European Union - the Europe 2020 Strategy - has defined five measurable Headline Targets to enhance economic growth and allowed the Member States to set their own national numerical values for these targets. This thesis analyses quality of this target setting process. First, it tries to figure out whether the targets have been set better than in the preceding Lisbon Strategy. Second, it examines whether the National Targets have been defined clearly and unequivocally. Third and the most important, based on original empirical analysis, the thesis evaluates whether the National Targets have been determined reasonably with respect to general capacities of individual European economies. The main results reveal that some learning from the Lisbon Strategy has been made, but the quality of the National Targets is insufficient and should be increased. JEL Classification E61, F55, O52 Keywords Europe 2020, strategy, European Union, national targets, empirical analysis, MULTIMOORA, Ratio System of MOORA, Reference point of MOORA, Full Multiplicative Form, Lisbon Strategy Author's e-mail PavlaBrizova@seznam.cz Supervisor's e-mail katerina.smidkova@cnb.cz
|
|
|
Sustainability of public debt, deficits of public budgets and economic growth
Marečková, Jana ; Ivanková, Kristýna (advisor) ; Maršál, Aleš (referee)
Cílem práce je otestovat udržitelnost veřejného dluhu a vliv fiskální politiky na ekonomický růst ve vybraných zemích OECD (Belgie, Francie, Itálie, Ra- kousko a Velká Británie). První část práce je věnována historickému vývoji eko- nomických přístupů k tomuto tématu a teoretickým předpokladům modelů. V druhé části práce přistupujeme k ekonometrické analýze. Na základě výsledků se podařilo prokázat udržitelnost veřejného dluhu v Belgii a Rakousku. U Itálie a Velké Británie výsledky ukazují, že jejich primární přebytky reagují pozitivně na zvyšující se poměr dluhu vůči HDP. Nepodařilo se však ukázat, že vývoj je- jich veřejného dluhu je stacionární proces. U Francie převažoval negativní vztah primárních přebytků a poměru dluhu vůči HDP. Vliv fiskální politiky na ekonomický růst zkoumáme z pohledu rozdělení výdajů na produktivní a neproduktivní a přijmů vlády na distorční a nedistorční. Z důvodu omezené dostupnosti dat se podařilo prokázat pouze v případě Itálie, že zvýšení fiskálního deficitu o 1% snižuje o 1% ekonomický růst, zvýšení distorčních daní o 1% snižuje ekonomický růst o 1,2% a zvýšení produktivních výdajů zvyšuje ekonomický růst o 0,5%. Druhou analyzovanou...
|
|
|
System for evaluation of taxation of multinational enterprises in the Czech Republic
Janský, Petr
The methodology presents the system of indicators for evaluation of taxation of international companies active in the Czech Republic. Based on the identification of the potential channels of corporate tax base erosion and profit shifting of multinational enterprises it enables to recognise companies whose taxation policy might not be in line with the best practice. Extreme values of the indicators might initiate further examination of a company by state authorities. This methodology thus complements the existing set of analytical tools of the Financial Administration of the Czech Republic in the area of taxation of multinational enterprises.
|
|
|
The Central bank of the Russian Federation's exchange rate policy and Russian ruble exchange rate during the period between 1992-2015
Shakirova, Karina ; Mandel, Martin (advisor) ; Dvořák, Pavel (referee)
This bachelor thesis is focused on the exchange rate policy of the Central bank of the Russian Federation and on the analysis of Russian ruble exchange rate during the period between 1992 and 2015. In the first part the main instruments of the Central bank of Russia's monetary policy and history of its exchange rate policy are described. The second part is oriented on the empirical analysis of the ruble exchange rate for the period between 2002 and 2015, where the dependence between the ruble exchange rate and certain factors as the balance of payments, the inflation rate and the oil prices is researched. The third part contains a description of Russian economic situation during the recent economic crisis, which started in 2014. Its causes, its evolution and the dynamics of the ruble exchange rate during this period are analysed.
|
|
|
Economics of terorrism: Empirical analysis of the behavior of terrorist groups
Chovítek, Šimon ; Komrska, Martin (advisor) ; Pertold, Filip (referee)
The aim of this thesis is to empirically analyze the behavior of terrorist groups. In this work we tested the assumption of the model of rational choice in terms of terrorism. The empirical section combines theoretical predictions with observed facts and shows the terrorists as rational actors acting under uncertainty. The data used in the analysis orginate from databases GTD and RDWTI. Mean-variance analysis of portfolios of real attack of terrorist organizations suggests their ability to effectively optimize their activity and to reduce the risks to which they are exposed. Terrorists thus appears as rational agents able to react quickly to external influences. This largely affects the resulting impact of counter-terrorism measures taken when selectively targeted measures may lead to a mere transfer of terrorist activity to another destination.
|
|
|
Minimum wage in economic context
Návrat, Martin ; Durdisová, Jaroslava (advisor) ; Pikhart, Zdeněk (referee)
This thesis compares different theoretical principles concerning the relationship between minimum wages and unemployment. In the empirical part examines the impact of minimum wages on unemployment in the Czech Republic for the period 1994 - 2012. The results of the econometric analysis indicate that the minimum wage significantly affects unemployment. I conclude that a 1% increase in the real minimum wage compared to the previous year will result in approximately a 0.17% increase in the unemployment rate for workers with at most primary education compared to the previous year and approximately 0.07% increase in the unemployment rate of men compared to previous year. Based on the extension of the basic models is rejected that the minimum wage statistically negatively influenced overall unemployment, unemployment of women and unemployment of workers under 25 years.
|
guest ::
