The aim of this paper is to analyze the pattern of speculation-led growth in Turkey. It is dependent on international capital flows, whose continuity becomes more and more critical given the current account deficit, which is estimated to reach 6.1% as a ratio to GDP at the end of 2005. The paper assesses the sustainability of this speculation-led growth in the context of EU enlargement and compares the current state of fragility with former crises in Turkey as well as in East Asia and Latin America. Following a severe financial crisis in 2001, Turkey has entered a new phase of fragile growth led by boom-euphoric expectations. The paper aims at explaining this new phase and the evolution of the risk perceptions of both the creditors as well as the debtors in this "speculation game" based on the post-Keynesian/Minskyan concepts of endogenous expectations and financial fragility. (author's abstract) / Series: Department of Economics Working Paper Series

The aim of this paper is to analyze the fragility of the New Member States and accession countries in the Central Eastern and South Eastern European countries (henceforth Eastern Europe) to the turbulences in the global economy and the changes in the direction of the international capital flows. (author's abstract) / Series: Department of Economics Working Paper Series

商業銀行傳統的活期性存款業務，是以臨櫃收付款作業為主，近年來歐美銀行開始嘗試將「收付款」、「帳戶管理」、「資金歸集」及「資訊查詢」等銀行各項服務，整合包裝成客製化服務，這種以滿足企業日常營運資金管理需求的服務，稱為「現金管理業務」。該業務不但可獲得穩定的存款利潤，更有助於銀行對優質客戶之經營。 「現金管理業務」濫觴於歐美先進國家，近年來在中國大陸的銀行實務或論文研究，都受到廣泛的關注討論。相較之下，雖然國內部份銀行亦發展及應用相關產品，但此業務在國內一直未受到有體系的研究。本論文研究主題為藉由個案研究來瞭解「現金管理業務」在銀行之發展實務，並收集中國大陸商業銀行對此業務之發展狀況，以探討「現金管理業務」主客觀條件限制、作業風險、潛在市場及未來深入發展方向。 本論文研究案例銀行企業金融部門在發展「現金管理業務」後，活期性存款之餘額、淨利息收入及手續費收入均大幅成長。不僅案例銀行獲利能力提昇，且因與重要客戶在資訊系統、營運模式與財務管理上之緊密結合，更強化了客戶關係與客戶經營。「現金管理」已成為案例銀行提高市場競爭力之核心業務。 / The current account deposit operation of traditional commercial banks is mainly based on settlement operation provided over the counter. Recently, Western banks have been trying to packaging different services, such like “Collection & Payment”, “Account management”, “Funding Planning”, “Information Inquires” and others to provide customized service to meet with client’s daily operational funding needs, which is so called “Cash Management Service”( The Service). The Service is very useful for the bank to serve good customers out of the stable deposit profit generated. The Cash Management Service was initiated from the Western Banks. However, it has gained widespread discussion in the banking research of China over the recent years, in the fields of both practical and theoretical. Comparatively, although the domestic banks have also developed and applied related products, but there are still short of systematic research over the operation in Taiwan . The purposes of the research is to, via case study, analyze the current banking practice of the Service. In addition, it summarizes the current development of the Service operation in China Commercial Bank to discuss the subjective and objective condition limit, the operating risk, the potential market and further product development of the “the cash management service”. After applying the Service, the subject bank has experienced huge growth in aspects of current deposit outstanding, net interest income and fee income. Other than increasing of profitability, it also tightens the relationship and preservation with the clients due to the closer arrangement to corporate customers in terms of information system, business model and financial management. The Cash Management Service has become the core business of the subject bank to enhance the market competitiveness.

Στην παρούσα εργασία εξετάζουμε τους προσδιοριστικούς παράγοντες των δημοσιονομικών ελλειμμάτων καθώς και των ελλειμμάτων στο ισοζύγιο τρεχουσών συναλλαγών. Επίσης, προσπαθούμε να ερευνήσουμε την επίδραση των δημοσιονομικών ελλειμμάτων στα ελλείμματα του ισοζυγίου τρεχουσών συναλλαγών (Υπόθεση δίδυμων ελλειμμάτων). Για το σκοπό αυτό χρησιμοποιούμε ένα δείγμα 27 χωρών του ΟΟΣΑ καλύπτοντας την περίοδο 1994-2006. / In this paper, we examine the determinants of budget deficits and current account deficits. Furthermore, we try to investigate the effect of budget deficits to current account deficits (Twin deficits hypothesis). For this purpose, we use a sample of 27 OECD countries covering the period 1994-2006.

The paper investigates net lending and net borrowing flows of the institutional sectors in Europe since the introduction of the Euro in 1999. Applying a simple statistical apparatus, this paper is novel in describing the sectoral behavior leading up to and during the crisis. We find that (1) many countries of the Northern group were characterized by low public deficits or even budget surpluses, current account surpluses and a private sector in a net lending position. In countries of the Southern periphery, in the Anglo-Saxon countries as well as in many Eastern European Economies private sector net borrowing coincided with a budget deficit and substantial current account deficits. (2) With the onset of the crisis private net lending soared in all countries while all governments incurred deficits, consistent with the notion of a balance sheet recession. (3) Private net lending is pro-cyclical, reinforcing the economic downturn, while public net lending is countercyclical in all countries. (4) Household net lending tends to lead the business cycle, while corporate net lending tends to lag it especially in the Northern group. (5) Prominent concepts asserting causal relationships in sectoral net lending, such as Ricardian equivalence and the twin deficit hypothesis are not supported by the data. (authors' abstract) / Series: Ecological Economic Papers

The use of banking products is an integral part of business. For this reason, the theoretical part of the work focuses on the general description. It also highlights the benefits of optimization in this sphere. It also indicates the differences between Czech and European banks, which are most obvious in the bank charges. They discussed the impact of financial crisis, affecting in particular the availability of credit. Practical part of the work focuses on the comparison of products, namely the current accounts of domestic and foreign bank -- ČSOB and Deutsche Bank. The result of this analysis is greater partiality for the establishment of current account at a bank in the Czech Republic. In addition, bank products are analyzed, leading joint-stock company CZ LOKO, which are mentioned experience with their use. Subsequently, the company CZ LOKO recommended a new current account, which is based on the comparison of bids for five lesser-known banks. From this analysis came to establish a new account at a branch of Austrian Oberbank AG, based in the Czech Republic. Finally, carry out a survey on the use of banking products, which demonstrated that all of today's entrepreneurs, to a lesser or greater extent, using bank's services.

This diploma thesis focuses on the financial literacy of Vietnamese immigrants in the Czech Republic. The basis is the research made by the author of the diploma thesis. The main objective is to analyze the real situation of the financial comprehension by Vietnamese immigrants in the Czech Republic, and highlight their mistakes in the complex world of finance. This thesis also points out some problems and complications, which have resulted from lack information about financial products. It will also try to suggest a method of how to increase financial literacy of Vietnamese immigrants. The diploma thesis is composed in three chapters. The first one gives some information about Vietnamese immigrants in the Czech Republic. The second part presents the results from research, and the last chapter deals with a financial institution that wants to focus on Vietnamese clients in the Czech Republic.

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第19950号 / 経博第537号 / 新制||経||278(附属図書館) / 33046 / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 宇仁 宏幸, 准教授 矢野 剛, 准教授 COLPAN Meziyet Asli / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM

Yes / We provide new evidence that current account balances in Greece, Portugal and Spain have become non-stationary after the adoption of the euro implying that there is no long-run stable relationship between savings and investment contrary to the Feldstein-Horioka puzzle. This can be taken as evidence of unsustainable current account balances and loss of solvency for the underlying economies. Using the ARDL methodology we also report a statistical association between fiscal balances and current account balances which implies that fiscal austerity can help these economies to reduce their current account deficits and restore their competitiveness. Our empirical evidence also suggests a particularly strong significant negative association between domestic investment and current account deficits. The magnitude of this latter effect may have important policy implications concerning the ways in which investment is financed to improve external competitiveness.

- THE CURRENT ACCOUNT CONTRACT CONSIDERING GERMAN LEGISLATION In my diploma thesys I have focused on legal regulation of current account contract not only in czech law but also in german law. Is not comparison in strict sence, but just a considiration of in my opinion more exact and explicit legislation of legal institute. In introduction part I have pointed out the term of current account, its purpose and fuction. The main part is focused on applicable legislation of current account contract, its characteristic and to statutes concerning above mentioned questions (for example Act on banks, Act on payment system act). I also mention issuies of contracting parties position, management of banc account , fee for account maintenance, interest on the balance of funds on accounts, termination of contract, account owners death, payments and related deadlines for execution of payment transactions or unilateral changes to terms and conditions. I also consider to be relevant that the czech legislator introduced dual regulation of current account contract in connection with the implementation of european directive. Czech legislator distinguish between current account contract that is not a payment service contract and current account contract that is payment service contract. In my opinion this duality causes...