Search

Copyright of Studies of Socio-Economics & Humanities / Socioekonomické a Humanitní Studie is the property of College of Banking, Banking Institute and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper is discussing CNB FX intervention and its impact on all segments of Czech financial markets from process and volumes of transactions point of view and possible consequences. The focus is on foreign exchange, bond and stock market. Although the impact of FX intervention was evident on all markets under discussion, it was not so significant having macroeconomic effects. The only exception is the FX market. The Czech National Bank contributed to the widening gap between market and equilibrium exchange rate. The undervalued Czech currency will have a temporal positive impact on the macroeconomic external balance. [ABSTRACT FROM AUTHOR]

When solving budget income issues, the state mostly focuses on tax income, because its share in the total budget income is the highest. The tax system has to reflect all fundamental economic relations existing in the society and express the goals and objectives of the state's financial policy. The current views are that a good tax system should be structured in a manner which is able to satisfy requirements for equitable distribution of the tax burden, efficient use of funds, objectives of macroeconomic policy and easy administration. These and other high-quality tax system requirements reflect the requirements imposed on the tax system by the representatives of the financial and national economy school in the past. This paper is dedicated to one of the most prominent representatives of the Czech financial and legal science and national economy school, Karel Engliš, 50 years from whose death passed last year. Karel Engliš was not only a professor at the Faculty of Law of Masaryk University in Brno and the Faculty of Law of Charles University in Prague; he also held the office of Minister of Finance in several governments after 1920 and was also the president of the banking committee of the Banking Authority attached to the Ministry of Finance and the Governor of the Czechoslovak National Bank. Engliš' budget and tax reform represented a respected intervention into the management of the economic policy of the young state. The budget reform of 1927 attracted the attention abroad both due to its originality and its success. The budget reform was based on Engliš' original teleological economic theory, which abandoned the former so-called "budget unity" based on the simple summing up of all state budget's receipts and expenditures and on the difference between them which represented the budget balance. Instead, a new structure of the state budget was introduced. Under this new structure the state budget was divided into four different functional categories. Another measure was the Engliš' tax reform, which was introduced into practice and which had been prepared since 1922 with the aim of unifying the tax system. Later, Karel Engliš added another objective - modernization of this system from the point of view of financial science. After the reform was completed, the tax system was divided into three basic categories, i.e. direct taxes, indirect taxes and fees. In conclusion, we can state that the ideas and scientific points of view held by Karel Engliš can offer many lessons to the present. [ABSTRACT FROM AUTHOR]

Corruption was, is and most likely in the future remains one of the forms of economic behavior with serious societal implications. Aim of this paper is to present one of the possible ways of analysis of the issue of corruption relevant instruments for research in economics. The present article is a microeconomic analysis of the causes and motives of corrupt conduct. In contrast to the opinions of psychologists and sociologists have come out from the assumption that you can not get by just listing the various causes of antisocial, and a decision on participation in illegal activities is accompanied by a systematic, rational economic calculation - calculation of risk (cost) of these activities and their expected benefits. [ABSTRACT FROM AUTHOR]

This paper investigates the possible reasons why many microfinance institutions (MFIs) have gradually experienced a decrease in the share of female borrowers in their portfolios over the last few years. We confirm that the share of women may be decreasing due to the growing proportion of low-income inhabitants in the area and unpaid family workers. Our results further show that the share of women is also strongly dependent on employment policy that has a positive impact on the dependent variable. Unexpectedly, none of macroeconomic variables such as economic growth, wage and household consumption has an impact on the number of female borrowers. [ABSTRACT FROM AUTHOR]

For the purpose of monetary policy analyses dynamic multivariate models are usually applied. The reason is the presence of significant lags between an action and the appropriate effects in the economy. We use the concept of structural VAR models, widely used approach next to the DSGE and simultaneous equations models. We estimate four and five variable VAR containing the key macroeconomic indicators and identify monetary transmission mechanism using SVAR. Using different identification schemes and impulse response functions we compare the effect of a restrictive monetary policy shock on the set of analyzed variables, especially price level. We also compare the results of defined models for the Czech and Polish economies, that both intend to enter EMU. To avoid the possibility of a price puzzle effect, as a result of mixing policy regimes in the sample period, we use data from single monetary policy regime starting 1998, when the Czech central bank switched to the inflation targeting regime. The results indicate high sensitivity to the identification schemes in SVAR and not significant differences between responses to monetary policy shock in CR and Poland. [ABSTRACT FROM AUTHOR]

Foreign trade is an important part of the national economy and represents very important macroeconomics parameter. The report focuses on the part of the foreign trade -- export, which plays a key role for small and open economy. Each state has drafted its own pro-export strategy and in every country operates institutions that provide direct and offer support for export. The exception is not nor Czech Republic and Slovak and in these two countries will be performed comparative analysis of the development of export support through export-oriented institutions that operate in each of these economies. Object of this article is oriented on the comparison of the results of support for export in the Czech and Slovak Republic, as an important factor of development of exports as a key component of aggregate demand, which plays a very important role for both economies. The aim of this article is to analyze and assess the trends in the development of pro-export policy in the Czech Republic and Slovakia from the viewpoint of institutions that dealing with support for export. The article is also to highlight as well as the importance of institutions that provided support in both economies. [ABSTRACT FROM AUTHOR]

Copyright of Media4u Magazine is the property of Ing. Jan Chromy, Ph.D. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Regionální Studia is the property of University of Economics, Prague and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Foreign trade as part of the national economy, including the circulation of goods and services across national borders and economies, represents one of the important macroeconomic parameters. Each country attempts to produce an active balance in foreign trade obtained through maximum of export activity. The submitted article focuses on the development of foreign trade in two countries, namely the Slovak and the Czech Republics. It also contains a comparative aspect focused on export activities of the said countries. The aim of the article is to analyse foreign trade in the selected countries and the factors that may have an influence on this indicator. Emphasis will also be placed also on the commodity and territory structure of foreign trade. Foreign trade in both countries has increased; however, the development of the foreign trade balance was different. Slovakia permanently suffered a foreign trade with a negative remainder except the years 2009 and 2010 when the country had a slightly positive balance and a slightly negative remainder in the year 2008. The opposite trend was noticed in the Czech Republic which has had a positive foreign trade balance since 2005. [ABSTRACT FROM AUTHOR]