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Profitability Life Cycle of Foreign Direct Investment and its Application to the Czech Republic
Novotný, Filip
The main driver of economic growth in the Czech Republic has been foreign direct investment (FDI). The decisions of foreign direct investors are profit-seeking, so a deterioration in the income balance of the current account has been observed as a consequence. The profitability profile of FDI is estimated on a panel of countries and then applied to the Czech Republic. The FDI profitability life cycle has a non-linear time profile with a duration of between 15 and 16 years. Maximum profitability is reached in the 7th to 8th year after the initial investment. Central and Eastern European (CEE) countries have a higher return on capital compared to the overall sample of countries. Knowing the FDI profitability life cycle enables us to construct various scenarios for the evolution of total FDI earnings depending on the future FDI inflows (changing FDI stock) assumed.
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Identification and Analysis of the Impacts of the Economic Crisis on Chosen Countries of Africa (Nigeria and Malawi) and Latin America (Brazil and Belize) between 2007-2014
Kašlík, Jan ; Jílek, Josef (advisor) ; Pekárek, Štěpán (referee)
This thesis studies the identification and analysis of the impact of the latest economic crisis of 2008 on selected countries of the world with the purpose of identifying the relevance of channels through which the financial and economic crisis has spread to these countries. The thesis focuses on two regions of the world: Africa and Latin America. In both of these regions two countries are chosen to be analyzed more closely. These are Nigeria and Malawi for Africa, Brazil for South America and Belize for Central America. The possible channels of transmission of the crisis were identified to be private capital flows, international trade and commodity prices, remittances and international aid. In the analysis of the chosen countries, it was identified that the most important channels were international trade, commodity prices and capital flows. On the other hand the least impactful channels were remittances and international aid. These were rather stable during the crisis and in the case of aid even played a countercyclical role.
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Global Economy Outlook - January 2016
Česká národní banka ; Sekce měnová ; Odbor vnějších ekonomických vztahů
This year’s first issue of Global Economic Outlook presents the regular monthly overview of recent and expected developments in selected territories, focusing on key economic variables: inflation, GDP growth, leading indicators, interest rates, exchange rates and commodity prices. In this issue, we also focus on the life cycle of foreign direct investment (FDI) on both the theoretical and empirical level. Our article presents an empirically derived general profile of the FDI profitability life cycle and then applies it to create scenarios for the probable future evolution of total FDI earnings on the example of the Czech Republic.
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The importance of international treaties on the Avoidance of Double Taxation in international business
Hollovičová, Tereza ; Klosová, Anna (advisor) ; Gullová, Soňa (referee)
This thesis addresses the impact of international agreements on avoidance of double taxation on international business. The aim of the bachelor thesis is to analyze the specific bilateral agreements on avoidance of double taxation concluded by the Czech Republic and to assess their consistency, scope and up-to-dateness in international trade cooperation. These findings are obtained using the method of comparison of specific bilateral agreements concluded between the Czech Republic and the Federal Republic of Germany, the United States and the Republic of China. The practical part illustrates the real use of international treaties on avoidance of double taxation on income from foreign investments and demonstrates their importance for the development and regulation of international trade relations.
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The Expansion of Multinational Company to the Foreign Markets
Kholodnaia, Antonina ; Dvořák, Jiří (advisor) ; Svoboda, Petr (referee)
The aim of this work is practical recommendations for effective integration of multinational companies to the Russian market, coming out of the theoretical basis studies. To meet the goals of this work the methods of data clustering, classification and identification of priority processes and events, method of comparable analysis and implementation of abroad expansion experience of the companies were used. As the main method of the country specifics analysis was chosen PESTLE-analysis. Conclusions and recommendations can be used to select the appropriate entrance form of the multinational company to the foreign market or expanding its international activities and gaining a foothold on the Russian market.
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Which foreigners are worth wooing?: a meta-analysis of vertical spillovers from FDI
Havránek, Tomáš ; Iršová, Zuzana
The principal argument for subsidizing foreign investment is the assumed spillover of technology to local firms. Yet researchers report mixed results on spillovers. To examine the phenomenon in a systematic way, writers collected 3,626 estimates from 57 empirical studies on between-sector spillovers and reviewed the literature quantitatively. The results indicate that model misspecifications reduce the reported estimates, but that journals select relatively large estimates for publication.
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The origins of global imbalances
Brůha, Jan ; Podpiera, Jiří
In this paper writers study the endogenous response of unequally developed regions to a drop in investment and trade costs in a general equilibrium model. The response is characterized by a rise in foreign direct investment in the underdeveloped region and increased consumption in the developed one, leading to trade imbalances between the regions. Writers hereby propose that declining investment and trade costs could have caused this century’s global imbalances.
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