The main aim of this thesis is to evaluate both short term and long term impact of foreign exchange interventions, which were initiated by Czech central bank in November 2015, on the Czech economy. The first part of the text deals with theoretical aspects of the thesis, especially with the role of central bank and exchange rate, and with the historical development of both the monetary policy in the Czech Republic and Czech crown. Second part of the work investigates the causes that have led to the initiation of intervention régime and tries to clarify whether the triggering was truly justified. The main part of the thesis deals with the launch of interventions itself and also with the short term and longterm impacts on macroeconomic indicators. The end of the work is dedicated to a discussion of intervention regime exit, both to the time aspect and possible scenarios.

The main objective of this thesis is to provide an overview of developments and issues in the context of the European debt crisis. Euro as a central aspect of Economic and Monetary Union has a major impact on convergence and existing systemic problems of the EU. The first chapter provides a brief description of the european integration since World War II in the context of Economic and Monetary union. The second chapter defines the concept of nominal and real convergence and dedicates closer to the Maastricht convergence criteria and the Stability and Growth Pact, which was the result of efforts towards closer fiscal coordination. Moreover, it summarizes the main causes of the financial crisis and subsequently analyses its impact on the EUR/USD currency pair. The fourth chapter focuses on the systemic weaknesses of the eurozone with an emphasis on the imbalance in the current account balance of payments. The last chapter summarizes the approaches to solving the debt crisis assuming that current steps taken by eurozone leaders in cooperation with the governments of intebted members fail.

The aim of this thesis is to statistically determine the dependence rate of software piracy in the cultural foundation of the country and other factors. Data obtained from internet were the resources of my work. They were from the results of different surveys and case studies. The data contain values of individual indicators, each for a maximum number of countries. The nature of the collected data leads to the analysis of quantitative variables such were selected correct statistical methods. Dependence of the quantitative variables was measured by simple linear regression. The rate of this dependence determines the correlation analysis. In my case Spearman's correlation coefficient was used. Any dependence was investigated with a pair of indicators. In each of pairs was as the dependent variable rate of software piracy. For better understanding I have used the graphs. From my thesis, I expect evaluate past and current situation about software piracy in the Czech Republic and in the world, and that shows influences the amount of computer crime.

This study deals with the health production function. It analyzes the impact of health care, socioeconomic, lifestyle and environmental factors on the mortality and life expectancy of the population of the Czech Republic. The analysis is made by linear regressions with time series data for the period from 1993 to 2011. Health care is measured by health care expenditures or by non-monetary indicators, the number of doctors and the consumption of pharmaceuticals. The results show that higher health care expenditures increase the mortality and reduce life expectancy. On the other hand higher number of doctors and higher consumption of pharmaceuticals improve the health status of the population. It may indicate inefficiency and corruption in health sector. Important factors that positively influence health are wealth, education and fruit and vegetable consumption, smoking affects health negatively. The results suggest that health care policy should focus not only on effective allocation of health care expenditures but also on lifestyle and socioeconomic status of the population. The limits of this work are short time series which don't allow the use of the lagged explanatory variables.

Thesis is aimed at describing the concepts and basic principles in the economy in gross domestic product. Furthermore it deals with the description of time series, their types, characteristics and the basic classification. A decomposition of time series into thein components is indicated. Another part is a basic description of the most commonly used economic filters - Hodrick-Prescott and Baxter-King. The Christiano-Fitzgerald and frequency-selective filter for short length time series have been practically implemented in MATLAB. The rest of the thesis deals with the application of above mentioned filters to data of Czech Republic, European Union, USA and selected EU countries. Moreover, the correlation between spectral components of the data for selected countries is investigated. KEYWORDS

This thesis is focused on the description and assessment of the relationships between human, institutional and social capital and the assessment of the effects of capital types on economic performance. After the operationalization of capital types and economic performance that was based on literature research, the relationships were analysed using the example of European regions (specifically NUTS 2). The analysis is focused on the regional differentiation of capital types and economic maturity. It also monitors the relationships between capital types and economic performance. This thesis is based on the latest statistical data from offices and surveys that deal with the quality of the institutional environment or the characteristics of social capital. The characteristics of capital types are shown in maps. For the statistical data analysis, we used factor, correlation and regressive analysis. Keywords: human, social and institutional capital, economic performance, GDP per capita, regional differentiation, European regions NUTS 2

This bachelor’s thesis examines the relationship between economic freedom and political freedom on economic growth. The main purpose of the thesis is to analyze the differences in how these freedom categories affect growth in per capita GDP using two data sets for OECD countries and middle-income countries, respectively. The analysis builds on a cross-national panel set of 72 countries for the period 2000-2019, i.e., 36 countries in each group. The findings show that gross capital formation, foreign direct investment and general government final consumption have had positive and statistically significant effects on economic growth in OECD countries during the above period. There is also a statistically significant and positive relationship between economic freedom and per capita GDP growth among the OECD countries while this was not the case for the degree of political freedom. The results also indicate that economic freedom is positively related to per capita GDP growth in middle-income countries, but this relationship was not statistically significant. Thus, my main conclusions is that there is a positive relationship between economic freedom and per capita GDP growth, at least in the OECD group. However, political freedom does not appear to help explain economic growth rates among middle-income countries. / Denna kandidatuppsats undersöker sambandet mellan ekonomisk frihet, politisk frihet och tillväxten i BNP per capita. Huvudsyftet med denna uppsats är att analysera skillnaderna i hur dessa frihets kategorier påverkar tillväxt i BNP per capita med hjälp av två datamängder för OECD-länder respektive medelinkomstländer. Analysen bygger på en paneldataanalys med 72 länder för tidsperioden 2000–2019, det vill säga 36 länder i vardera grupp. Slutsatserna visar att inhemska bruttoinvesteringar, utländska direktinvesteringar och offentlig konsumtion hade en positiv och statistiskt avgörande effekt på den ekonomiska tillväxten i OECD-länderna under den givna tidsperioden. Det fanns även ett statistiskt signifikant och positivt samband mellan ekonomisk frihet och tillväxt i BNP per capita bland OECD-länderna medan detta inte var fallet för graden av politisk frihet. Resultaten indikerar också att ekonomisk frihet är positivt relaterad till tillväxt i BNP per capita i medelinkomstländer, dock var detta samband inte statistiskt signifikant. Således är mina huvudsakliga slutsatser att det finns ett positivt samband mellan ekonomisk frihet och tillväxt i BNP per capita, åtminstone i OECD gruppen. Men politisk frihet verkar inte hjälpa till att förklara den ekonomiska tillväxttakten i medelinkomstländer.

Direktavkastningskravet är ett avgörande mått inom fastighetsbranschen för att bedöma lönsamheten hos en fastighetsinvestering. Genom att tillämpa direktavkastningskravet kan investerare jämföra och utvärdera lönsamheten hos olika fastigheter och tillgångsslag. De senaste två decennierna har kännetecknats av en komprimering av direktavkastningskravet på flera fastighetsmarknader, vilket till stor del har påverkats av det gynnsamma makroekonomiska klimatet under den tiden. Under inledningen av 2022 har det ekonomiska landskapet genomgått betydande förändringar då flera länder har ställts inför utmaningar med hög inflation och ökande styrräntor som en följd av en överstimulerad ekonomi. Förändringen har inneburit att den tidigare trenden av sjunkande direktavkastningskrav har brutits i takt med att fastighetsinvesterare har justerat upp risken för att kompensera för den ökade osäkerheten på marknaden. Mot bakgrund av direktavkastningskravets utveckling över tid syftar studien till att undersöka vilka faktorer som har bidragit till denna förändring. Studien undersöker några av dessa faktorer genom att analysera olika makroekonomiska och marknadsspecifika variabler och deras påverkan på direktavkastningskravet för kontorsmarknaden i Stockholm CBD under perioden 2000 till och med 2022. Studien visade att förändringen i direktavkastningskravet över tidsperioden signifikant kunde förklaras av faktorer som BNP-tillväxt, förändringen i riskfri ränta och hyrestillväxt. Även förändringen i vakansgrad undersöktes, men enligt regressionsresultaten visade den ingen signifikant effekt på den beroende variabeln. Det är dock viktigt att notera att studiens förklaringsgrad var låg, vilket innebär att trots det att regressionen indikerar statistisktsignifikanta samband mellan förändringen i direktavkastningskravet och några av de oberoende variablerna, kan inga slutsatser dras om att det faktiskt föreligger ett samband mellan den beroende och de oberoende variablerna. / The capitalization rate is a crucial measure in the real estate industry for assessing the profitability of a property investment. By applying the capitalization rate, investors can compare and evaluate the profitability of different properties and asset classes. The past two decades have been characterized by a compression of the capitalization rate in several real estate markets, largely influenced by the favorable macroeconomic climate during that time. In the early stages of 2022, the economic landscape has undergone significant changes as several countries have faced challenges with high inflation and rising interest rates due to an overheated economy. This change has resulted in breaking the previous trend of declining capitalization rates, as real estate investors have adjusted upwards for risk to compensate for the increased market uncertainty. Taking into account the evolving nature of the capitalization rate over time, the study aims to explore the underlying factors contributing to this transformation. Specifically, the study examines a range of macroeconomic and market-specific variables and their influence on the capitalization rate for the office market in Stockholm CBD between 2000 and 2022. The study found that the change in the capitalization rate over the time period could be significantly explained by factors such as GDP growth, changes in risk-free interest rates, and rental growth. The change in vacancy rate was also examined, but according to the regression results, it showed no significant effect on the dependent variable. However, it is important to note that the study had a low explanatory power, which means that despite the regression indicating statistically significant relationships between the change in the capitalization rate and some of the independent variables, no conclusions can be drawn about the existence of a relationship between the dependent and independent variables.

The main objective of this study was to test if the applicability of known capital structure theories holds water in abnormal economic environments, in particular, in Zimbabwe. Using secondary data collected for listed manufacturing firms from 2009-2018, results from a fixed effects regression model concluded that profitability, company size, non-debt tax shields, firm liquidity, inflation and GDP were significant in explaining capital structure decisions in Zimbabwe. In the context of South Africa, company size, asset tangibility, firm liquidity and inflation were found to be significant. The pecking order and trade-off theories were the only two theories that were found to be applicable in the Zimbabwean context, and the application of both theories indicated the use of internally generated funds as opposed to external finance sources, such as debt and equity. These results attribute to the abnormality and instability of the Zimbabwean economy, especially with regards to limited access to capital. / Business Management / M. Com. (Business Management)

Denna forskningsstudies syfte är att undersöka sambandet mellan internationell handel och ekonomisk tillväxt och effekten som internationell handel har på ekonomisk tillväxt i afrikanska länder söder om Saharaöknen (Subsahariska Afrika). Majoriteten av tidigare studier och forskning inom detta område hävdar att det finns en positivt korrelation mellan dessa två variabler men ändå så finns det fortfarande vissa som ifrågasätter hur pass stor påverkan dessa två variabler egentligen har, om den effekten verkligen är tillräckligt signifikant för att anses vara betydelsefullt samt viktig. Informationen och datan som använts i denna studie är tagna från World Bank Group (Världsbanken), Human Development Reports och Fraser Institute. Studiens teoretiska referensram använder sig av tillväxtteorier, vilket bestod av Solowmodellen, endogen tillväxtteori och institutionell teori samt handelsteorier, som bestod av den Ricardianska modellen och Heckscher-Ohlin modellen för att bättre förklara konceptet av ekonomisk tillväxt och hur internationell handel kan komma att påverka processen till att uppnå ekonomisk tillväxt. Inom denna undersökning utfördes en panel-data studie med stöd av en regressionsanalys för att kunna mäta korrelationen mellan internationell handel och ekonomisk tillväxt. Den beroende variabeln för denna forskningsstudie var ekonomisk tillväxt i form av den årliga BNP per capita-tillväxten medan de oberoende variablerna innehöll bland annat internationell handel, utbildning, kapital, befolkningstillväxt, arbetskraft, korruption och ekonomisk frihet. Dessutom inkluderar undersökningen 36 utav de totala 48 möjliga länder i Subsahariska Afrika och är avgränsad till en tioårsperiod mellan 2009–2019. Slutresultatet av denna studies forskning visar att det finns ett signifikant positivt korrelation mellan ekonomisk tillväxt och internationell handel och kommer då fram till slutsatsen att internationell handel faktiskt har en viktig effekt/påverkan och är därför nödvändig för att uppnå ekonomisk tillväxt. / The purpose of this research study is to examine the relationship between international trade and economic growth and the effect that international trade has on economic growth in sub-Saharan African countries (Sub-Saharan Africa). The majority of previous studies and research in this area claim that there is a positive correlation between these two variables, yet there are still some who question how much these two variables actually have influenced each other and if that effect is really significant enough to be considered significant as well as important. The information and data used in this study are taken from the World Bank Group, Human Development Reports and Fraser Institute. The study's theoretical framework uses growth theories, which consisted of the Solow model and endogenous growth theory, and trade theories, which consisted of the Ricardian model, the Heckscher-Ohlin model, and institutional theory to better explain the concept of economic growth and how international trade can affect the process of achieving economic growth. Within this research, a panel dataset study was carried out with the support of a regression analysis in order to measure the correlation between international trade and economic growth. The dependent variable for this research study was economic growth in the form of annual GDP per capita growth, while the independent variables included international trade, education, capital, population growth, labor force, corruption and economic freedom. Additionally, the study includes thirty-six out of a total of forty-eight possible countries in sub-Saharan Africa and is limited to a ten-year period between 2009-2019. The final result of this study's research shows that there is a significant positive correlation between economic growth and international trade and concludes that international trade actually has a very important effect/impact and is essential to achieving economic growth.