Thesis analyzes different indicators of competitiveness in period before and after adopting of euro in Slovakia. First chapter contains theoretical background, defines competitiveness and methods of its measuring. Second chapter analyzes development of macroeconomic indicators such as GDP, inflation, government debt and deficit. Aim od third chapter is to evaluate competitiveness of Slovakia, using different competitiveness reports and this chapter also contains analysis of unit labor costs, labor productivity and real effective exchange rate. Fourth chapter is analyzing different exchange rate regimes and compares impact of financial crisis on Slovak and Czech economy due to the fact, that countries had different exchange rate regimes in this period.

L’objet de cette thèse est l’analyse des effets de la variabilité du taux de change réel effectif (TCRE) sur le commerce extérieur de la Tunisie global et sectoriel sur la période de 1975-2009. La variabilité du TCRE signifie la volatilité et le mésalignement. La volatilité est mesurée par l’écart type mobile (ETM) et le modèle GARCH(1,1). Cependant le mésalignement du TCRE est mesurée par la déviation par rapport aux taux d’équilibre donnés par trois théories du taux de change d’équilibre à savoir le modèle d’Edwards, de BEER et du NATREX. A l’aide des estimations des modèles d’exportations et d’importations sans/avec ruptures, les résultats ont montré que les effets de la volatilité sur le commerce extérieur ne sont pas très pertinents à long terme. Quant aux effets du mésalignement du taux de change, ceux-ci apparaissent très pertinents essentiellement lorsque il s’agit des flux commerciaux sectoriels. / The purpose of this thesis is the analysis of the variability of the real effective exchange rate (REER) on foreign trade total and sectoral of Tunisia over the period 1975-2009. Variability REER means volatility and misalignment. Volatility is measured by the mobile standard deviation (ETM) and the GARCH (1, 1). However, the misalignment of REER is measured by the deviation from the equilibrium rate given by three theories of exchange rate equilibrium namely the Edwards model, BEER and NATREX. Using estimates of exports and imports models with / without breaks, the results showed that the effects of volatility on trade are not very relevant in the long term. But the effects of the exchange rate misalignment appear very relevant mainly when the sectoral trade flows are used.

Dans le contexte de la mondialisation, le projet d’émission d’une monnaie unique en Afrique de l’Ouest, initié par la CEDEAO en 1999, offre aux petites économies de la sous-Région de nouvelles opportunités. Le marché unique accroitrait la taille des marchés domestiques, favoriserait les économies d'échelle, simulerait la profitabilité des investissements et l’accroissement du Produit potentiel des économies. La présente Thèse étudie les implications associées à cette évolution monétaire projetée, dans la perspective des pays de la sous-Région qui conduisent actuellement une politique monétaire et de change autonome. Les résultats montrent que les économies de la CEDEAO ne sont pas synchrones, notamment par rapport à leur cycle de croissance. L’analyse des mésalignements établit que la non-Participation à une union monétaire ne protège pas contre les déséquilibres de change. Une participation de la Gambie, de la Guinée ou de la Sierra-Leone à l’UEMOA aurait été préférable, entre 1994 et 1999. Mais cet avantage se réduit ou disparaît à partir de 2000. Le bien-Être mesuré par la croissance du PIB ou par l’IDH n’est pas affecté par la participation à une zone ou à une union monétaire. Toutefois, une telle participation a un effet vigoureux, positif et significatif sur le bien-Être mesuré par la consommation par habitant. Globalement, malgré la faible synchronisation des économies, la participation à l’union monétaire en Afrique de l’Ouest est associée à un niveau de mésalignement équivalent ou plus faible que celui de la non-Participation, sauf pour le Ghana et le Nigéria. Mais une telle participation pourrait accroître la consommation par habitant. Le projet de monnaie unique de la CEDEAO est donc pertinent pour les économies de la ZMAO. / The context of the globalization suggests that the project of a West African common currency launched by the ECOWAS commission in 1999 is a potential source of opportunities for the small economies of the sub-Region. The common market will increase the scale of their small domestic markets; facilitate the realization of the scale economies; enhance the profitability of the investments and improve the potential product of the economies. Thus, this thesis aims to analyse the effect of that monetary evolution planned for countries following an autonomous monetary and exchange policy in the West African sub-Region. The results show that the economies of the sub-Region are not symmetric, especially because of their growth cycles. The equilibrium exchange rate analyse proves that the non-Participation in the common currency does not shield the West African economies against the exchange rate misalignment for them. Especially a participation of Gambia, Guinea or Sierra-Leone in the West African Economic and Monetary Union (WAEMU) between 1994 and 1999 would have generated a lower exchange rate misalignment for them. But that effect decreases or disappears as for 2000. On another hand, the participation in a common currency or in a monetary area in Sub-Saharian Africa does not affect the welfare measured by growth or HDI. But, both the participation in the monetary area or in the common currency improves the welfare, measured by consumption by head, strongly and significantly. Ultimately the ECOWAS economies are not robustly symmetric. Relative to the misalignment of the exchange rate the non-Participation in the WAEMU is not better, except for Ghana and Nigeria. For all ECOWAS economies, the participation in a common currency or in a monetary area is better for their welfare, measured by the consumption by head. The ECOWAS common currency project is subsequently relevant for monetary union non-Participants economies of the sub-Region.

Thesis (M. Commerce (Economics)) -- University of Limpopo, 2016 / The purpose of this paper is to ascertain the impact of the real effective exchange rate on South Africa‟s trade balance and whether the J-curve phenomenon and the Marshal-Lerner condition are satisfied in the economy. Using data spanning the period 1980Q1 – 2014Q4, the Autoregressive Distributed Lag (ARDL) bounds test as well as the Johansen cointegration test were employed to test for the long run cointegrating relationship between the variables. The ARDL approach was employed to estimate both the long run and short run models as well as to ascertain whether the Marshal – Learner condition as well as the J-curve phenomenon are satisfied in the RSA economy. The results from the cointegration tests show that there is a stable long run equilibrium relationship between the trade balance, real effective exchange rate, domestic GDP, money supply, terms of trade and foreign reserves. The results from the Autoregressive Distributed Lag long run model show that a depreciation of the ZAR improves the trade balance, thus confirming the MarshalLerner condition. The results further reveal that domestic GDP and money supply both have a significant negative impact on the trade balance in the long run with the terms of trade reported positive as well. Foreign reserves were not found to significantly affect the trade balance in the long run. In the short run, the ARDL error correction model shows that a ZAR depreciation leads to a deterioration of the trade balance, thus confirming the J-curve effect for the RSA economy. The terms of trade effect was reported positive in the short run, thus confirming the Harberger-LaursenMetzler effect (HLME) in the process. Money supply, domestic GDP and foreign reserves are also found to have a significant negative impact on the trade balance in the short run. Finally, the error correction model reveals that about 26% of the disequilibrium in the trade balance model is corrected in each quarter.

The content of this diploma thesis is description of semi-automatic assembly line, description of design and realization of electroprojection including electrical switchboard and control panel, together with description of design and implementation of control system including communications and user interface. Part of the thesis is also the analysis and solution of safety risks using a safety controller and overall verification and evaluation of the functionality of the whole system on described line.

90年代末東亞金融危機造成多國貨幣大幅貶值，銀行紛紛倒閉。基本上金融危機可分為通貨危機(Currency Crisis)與銀行危機(Banking Crisis)；通貨危機是指當年中任一季名目匯率貶值超過25%，且貶值幅度比前一季超過10個百分點。諸多實證文獻顯示，高估一國匯率為其通貨崩潰之先驅；又由於近年來新興國家快速開放資本市場，以致於成為危機之導火線。為分析此一現象，本文首先編製金融帳權數之新台幣實質有效匯率指數，並將東亞之台灣、印尼、韓國、菲律賓、泰國等五國之匯率、相對物價（各國與美國物價）、金融帳餘額等變數做共整合關係檢定，觀察三個變數的長期均衡關係，再將誤差項加入模型中，建構向量誤差模型。實證結果發現，金融帳與相對物價對匯率有顯著之影響力。 / The 1997 East Asian Crises had made exchange rate depreciations and bank bankruptcies. Broadly speaking, it can be divided into currency crisis and banking crisis. Nominal exchange rate of any season in a year, which is depreciated over 25% and 10% than last season, is called a currency crisis. Lots of papers demonstrate that overvaluation is a precursor of a currency crash. Furthermore, developing countries have opened capital markets so rapidly that it became the tinderbox of crises. To analyze the phenomenon, this thesis first compile Taiwan’s financial weighted real effective exchange rate index, then examine exchange rates, relative prices (compare to American consumer price index), and net financial account of Taiwan, Indonesia, Korea, Philippine, and Thailand with cointegrated test to identify the long run equilibrium relationships between variables; then adding error terms into models to estimates vector error correction model (VECM). The empirical results show that financial account and relative price influence exchange rate significantly.