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Reform of the IMF Real empowerment of developing countries or just a gesture?
Kroupa, Michal ; Plechanovová, Běla (advisor) ; Parízek, Michal (referee)
Recently implemented reform of the IMF was motivated by empowering smaller developing and emerging countries. My work has an ambition to assess the countries were empowered and whether there would be a more efficient way for IMF reform. I analyse of role and power of countries using well-established methodology of Voting Power Indices. Apart from the immediate change a longer perspective covering last 20 years would be implemented. My aim is not only assess the power of countries as isolated variables but also to assess them in context of other indicators such as economic development. Lastly, I would suggest a new way of reform proposal for the IMF. Currently countries are represented in the locus of executive power through constituencies. Constituencies are formed arbitrary often reflecting power-seeking behaviour of developed countries. The result is composition of constituencies that often further marginalize the developing countries. My proposal is to restructure these constituencies in line with regional international organizations, which can enhance the position of developing countries in two ways. By providing institutional capacity of already existing organizations the consensus within the constituency would be better facilitated. By formation constituencies in line with regional...
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The IMF and its role in the Czech Republic and Hungary since 1989
Malešová, Jana ; Duršpek Raková, Marie (advisor) ; Parrák, Radovan (referee)
This thesis focuses on the International Monetary Fund. The first part consists of three chapters and it examines the Fund as a respected, yet disputes sparking institution. The first chapter describes the history of the Fund from its founding in Bretton Woods in 1944 to the recent financial crisis. The second chapter focuses on the Fund's operation nowadays. Information about special drawing rights, member quotas system, and about Fund's financial resources and their use can all be found there. Recent reforms and the organizational structure are also a part of the second chapter. The third chapter presents the main points of critique of the Fund. The second part of the thesis examines specific Fund activities in two central European countries with the focus on periods in which the Fund's assistance was the most significant. The fourth chapter concentrates on Fund operations in the Czech Republic after the membership resumption in 1990. The fifth chapter explains Fund activities in Hungary, which has been a member since 1982 but has drawn particular attention in recent years since the outburst of the financial crisis.
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The influence of Dayton Peace Agreement on the ethnicity of Bosnia and Herzegovina after the civil war in 1990s
Kurtovič, Vedad ; Dubský, Zbyněk (advisor) ; Veselý, Zdeněk (referee)
The main topic of this Bachelor thesis is political and economical development in Bosnia and Herzegovina (BiH) after the Dayton Peace Agreement (DPA) was implemented. The primary aim of the thesis is to find an answer to the research question, whether DPA helped tighted the cooperation between ethnical groups (or nations), which initially drove the country into a bloody civil war. The analysis of BiH political parties programmes and fullfillment of strategies and plans of international organizations on a state level as well as macroeconomical indicators (unemployment, GDP), private foreign investments are the way to achieve so. It is apparent from the conclusion that it is not possible to implement a political system from western Europe into a western Balkan country without the latter democratically voting for it, did not go through historical or constitutional development with its political elites pursuing only regional interests.
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The Development of BRICS position in the International Monetary Fund Decision-Making
Gajdoš, Michal ; Parízek, Michal (advisor) ; Kučerová, Irah (referee)
This work tries to stress a voting underrepresentation of BRICS countries in the IMF. In the Executive Board of the IMF, what is the most important decision body, there is a voting weight derived from the economic performance of the country. Even though BRICS countries have increased their economic performance in last decades notably, this economic performance has not been transformed into voting weight in the Executive Board of IMF. At the first section I illuminated a function of the IMF and a formula of voting weight that calculates economic power into voting weight. I made an investigation over all variables in this formula and I evaluated dubious composition of the formula. At the second section I compared the dynamics of economic growth on the one hand and the development of voting weight on the other hand. The selection is wide, I compared developed countries, developing (BRICS) and underdeveloped. To do so, I demonstrated various dynamics of growth on the both sides and therefore I was able to conclude which country is underrepresented and which overrepresented in the IMF.
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The return of Poland and Czechoslovakia and the entry of Hungary to International Monetary Fund.
Veverka, Jan ; Svoboda, Karel (advisor) ; Mlsna, Petr (referee)
Bachelor thesis "The Return of Poland and Czechoslovakia and the Entry of Hungary to International Monetary Fund" deals with the early membership of these three central European countries - Czechoslovakia, Poland and Hungary - in the International Monetary Fund. First the thesis deals with how both Czechoslovakia and Poland were involved in the process of setting up the IMF and how they both terminated their membership in the beginning of the fifties, later the thesis deals with the circumstances leading to the Hungarian membership in the International Monetary Fund in 1982, to Polish membership renewal in 1986 as well as to Czechoslovak membership renewal talks in the 1980s. There has been a substantial change in economic and political setting in Hungary, Czechoslovakia and Poland after thirty years of disparate economic evolution and political separation via "iron curtain". At the same time, the character of IFM changed as well, and it was this coincidence that lead to the change in the attitude towards the IMF membership on the side of all above mentioned states as well as of the international organization itself.
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The IMF and its role in the Czech Republic and Hungary since 1989
Malešová, Jana ; Duršpek Raková, Marie (advisor) ; Parrák, Radovan (referee)
This thesis focuses on the International Monetary Fund. The first part consists of three chapters and it examines the Fund as a respected, yet disputes sparking institution. The first chapter describes the history of the Fund from its founding in Bretton Woods in 1944 to the recent financial crisis. The second chapter focuses on the Fund's operation nowadays. Information about special drawing rights, member quotas system, and about Fund's financial resources and their use can all be found there. Recent reforms and the organizational structure are also a part of the second chapter. The third chapter presents the main points of critique of the Fund. The second part of the thesis examines specific Fund activities in two central European countries with the focus on periods in which the Fund's assistance was the most significant. The fourth chapter concentrates on Fund operations in the Czech Republic after the membership resumption in 1990. The fifth chapter explains Fund activities in Hungary, which has been a member since 1982 but has drawn particular attention in recent years since the outburst of the financial crisis.
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Reform of the IMF Real empowerment of developing countries or just a gesture?
Kroupa, Michal ; Plechanovová, Běla (advisor) ; Parízek, Michal (referee)
Recently implemented reform of the IMF was motivated by empowering smaller developing and emerging countries. My work has an ambition to assess the countries were empowered and whether there would be a more efficient way for IMF reform. I analyse of role and power of countries using well-established methodology of Voting Power Indices. Apart from the immediate change a longer perspective covering last 20 years would be implemented. My aim is not only assess the power of countries as isolated variables but also to assess them in context of other indicators such as economic development. Lastly, I would suggest a new way of reform proposal for the IMF. Currently countries are represented in the locus of executive power through constituencies. Constituencies are formed arbitrary often reflecting power-seeking behaviour of developed countries. The result is composition of constituencies that often further marginalize the developing countries. My proposal is to restructure these constituencies in line with regional international organizations, which can enhance the position of developing countries in two ways. By providing institutional capacity of already existing organizations the consensus within the constituency would be better facilitated. By formation constituencies in line with regional...
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The interventions of the IMF in Argentina
Dráb, Martin ; Kučerová, Irah (advisor) ; Zubíček, Milan (referee)
Bachelor thesis Intervention of the International Monetary Fund in Argentina deals with the economic breakdown in 2001 and the role of International Monetary Fund in this event. Political background and economic policy has been analysed for better understanding what exactly eventually led Argentina to bankruptcy. For pragmatic reasons, most attention is devoted to 1990's that are most valuable for confirming the efficiency and motivation of the participation of the International Monetary Fund. Primary evaluation criteria in the thesis are inflation (based on consumer price index), growth of GDP, balance of payments and unemployment. All of the economic indicators are described on the historical background, as well as the political situation during the discussed period of time. Simultaneously, an effort to describe behaviour and development of the International Monetary Fund is manifested in regards to its own motivation, which is consolidation of the government budget and establishing economic development. Last but not least, there is a note about a controversy, which surrounds the whole existence of institution like International Monetary Fund, his agency and role.
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Democratic Legitimacy of Global Economic Institutions (World Bank, IMF, WTO)
Krajník, Jan ; Parízek, Michal (advisor) ; Romancov, Michael (referee)
This paper addresses democratic legitimacy of the global economic institutions - The International Monetary Fund, The World Bank and The World Trade Organization. Considering formal aspects one of the main differences among them is the way of decision making. The WTO voting is based on country one, one vote principle whereas the IMF and the Bank represents weighted voting derived from the economic power. It is generally considered, that the egalitarian principle of the WTO is more democratic and brings better legitimacy. There are used three models of democracy to conceptualize what is meant by democracy a how is legitimacy gained. These are classical Athens democracy, Schumpeter's model competition of elites and modern concept of cosmopolitan democracy. With growing importance of these international organizations dealing with issues of monetary stability, economic development and international trade it is necessary to focus on them from the perspective of an individual citizen. For this reason, the Banzhaf index of power for each country related to its population is used to measure influence of individual citizen in these organizations. And from this perspective the WTO voting yields bigger disparities among citizens of different countries. Nevertheless different types of voting are not the key...
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International Monetary Fund
Drobná, Martina ; Hrdlička, Pavel (advisor) ; Severová, Lucie (referee)
The object of this thesis is an analysis of the current role of the International Monetary Fund in the 21st century. The first part of this thesis is focused on history that led to foundation of this international organisation, the reasons for its establishment and its characterization. The second par introduces one from the most important roles of this Fund, which is providing of credit to the countries that have financial difficulties. The result of this part is an appraisal of these loans and their future development. The last part of this thesis assesses current tasks of the Internationl Monetary Fund and its role in the future.
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