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Práce se zabývá základními tendencemi ve vývoji objemu a struktury veřejného dluhu v zemích EU. Upozorňuje na nejvíce charakteristické trendy identifikované v zemích EU v posledním desetiletí a ukazuje, do jaké míry se vývoj veřejného zadlužení ČR podobá tomu evropskému. Práce se věnuje i možným příčinám, které vedou ke vzniku veřejného dluhu, důsledkům jeho existence i potenciálním možnostem řešení tohoto problému.

Suretyship and financial guarantee - abstract As a topic of my Thesis I chose two civil and earlier also business law institutes Suretyship and Financial guarantee. I have analyzed the actual meaning of the debt security and its legal instruments in first part of my paper. There was a significant change in the Czech legal order since the new civil code came into power. Before the change, the institute of Suretyship was referred to in the "old" civil code Law no. 40/1960 Coll. for civil right purposes and in business code Law no. 513/1991 Coll. for business law purposes. After the recodification of private law, all legal obligations are now jointly in the "new" civil code Law no. 89/2012 Coll. The second part of my paper was dedicated to an analysis of this change and its impact. I went thru the effective legal treatment of the debt security, explained the effective debt security legal system in the civil code (analyzed the general provisions joint for all security institutes) in the next chapter. Furthemore, I dealt with the first of the security institutes being the topic - suretyship. First, I explained the meaning historical evolution since the Roman law, thru middle age, Austria-Hungary and the last century till today. Afterwards I dealt with the basics of suretyship, focused on the main differences...

The thesis analyses several ways to use financial derivatives in public debt management. It mainly focuses on the manager's motives to use derivatives, associated risks and other fundamental aspects, including the known examples of a questionable use of swaps. In the last chapter the thesis also uses historical data to determine whether the use of derivatives can have a positive effect on the Czech republic's interest expenditures.

V této práci je ukázán vývoj dluhu obcí v České republice v období 1994 až 2005. Je zde zkoumán vliv dluhu obcí na veřejný dluh a také jeho ostatní vlivy. Dluh obcí je jednou z částí veřejného dluhu a proto se ho stát snaží regulovat, i když je obec ve svém hospodaření nezávislá. V této práci jsou také jednotlivé formy regulace dluhu obcí obsaženy.

The thesis deals with contractual penalty as a means of corroboration of a debt in business relations. The topic was chosen by the author primarily because of the fact that contractual penalty is a traditional institute of private law. It is frequently used in the law of obligations as an instrument of corroboration of a debt. Therefore its application improves the position of creditor. The aim of this thesis is to scientifically describe and analyze institute of contractual penalty as frequently used tool of corroboration of a debt in the context of the current, relatively new legislation. The work is based on rules of the Civil Code effective since 1. 1. 2014. At the same time, there is a great emphasis on jurisprudence. The work also abounds comparison with the previous legislation, which aims to capture the development of the concept of contractual penalty. The thesis focuses on the most important issues related to the penalty clause. At the same time it offers a comparison with the English legislation in the last chapter. This comparison is particularly interesting due to the diversity of the legal system in the Czech Republic and the legal system in England. The work is divided into eight main chapters, which are divided into subsections according to the content of the topic. The first...

Sub-Saharan Africa is the poorest region in the world suffering from social, political and economic problems. The study focuses on investigation of relationship of capital flight and external debt to long-term economic growth in this region. Firstly the magnitude of capital flight is computed. Using fixed effects model and random effects model we estimate the impact of external debt and capital flight on long-term growth. Moreover the time structure of debt and its source is integrated into model. Our sample consists of 24 countries from sub-Saharan Africa over the period 1989-2008. We have found that external debt has statistically significant negative impact on growth. On the other hand this impact is economically negligible. The long-term growth is also slowed down by long-term debt and by multilateral borrowing. Concerning capital flight its effect on growth is harmful as well. JEL klasifikace: F34, O47, O55, Klíčová slova: zahraniční dluh, únik kapitálu, Subsaharská Afrika, růst

Contractual penalty as an instrument of confirming a debt in commercial relations. The Master degree's thesis is concerned with contractual penalty. The topic was chosen because contractual penalty has been an important often-used instrument of confirming debts for many years. Through its functions, it contributes to compliance with the fundamental principle of private law - "pacta sunt servanda". The aim of the study is to analyse and assess contractual penalty on the basis of valid Czech law, related judicial decisions and professional literature chiefly with the use of language, logical, systematic and teleological method of legal reasoning. The text is based on the Act No. 89/2012 Coll., The Civil Code, which is to become effective on 1st January 2014. The Act's legal rules are compared to the former ones so that the changes of law can be described as a result of recodification of private law. The thesis is focused on the most important and the most discussed issues regarding contractual penalty. Chapter one is devoted to general characterization of contractual penalty with respect to its functions and accessory character. Chapter two deals with the prerequisites for commencement of the claim on contractual penalty - a valid and proper agreement on contractual penalty and a breach of the secured...

Security transfer of ownership Abstract The subject matter of this thesis is the security transfer of ownership as a means of debt security in the Czech Republic. Within five chapters, the thesis analyses the law applicable to the security transfer of ownership while considering the difficulties arising out of its interpretation that were identified by courts, experts and legal practice. The main purpose is to present the difficulties related to the use and interpretation of the security transfer of ownership in a critical manner. The first chapter aims to put the security transfer of title in the context of the law of obligations, to place it among other types of debt securities and to capture its substance. Subsequently, the thesis describes the roots of this type of debt security in Roman law and the evolution of the security transfer of title in the Czech territory. There is a comparative mention of the use of the security transfer of title in Germany and France at the end of the first chapter. The second chapter analyses the security transfer of title under Act No. 40/1964 Coll., the Civil Code and identifies problems related to the imperfect legislation. This chapter also analyses the case law that had fundamental impact on the interpretation of this debt security and that were reflected in the...

The aim of this thesis is to point out recent development in the field of debt creation, its concordance with academic practice and to outline feasible utilization of financial modeling in the area of government deficits. The effort is to put institutional operation of debt management into context of recent history of financial markets and to verify its success. The process of debt portfolio management with use of advanced financial tools is shown on the sample of Czech debt manager. From the observation of the overall environment we can state the effort to develop efficient domestic debt market and the conception of long-term strategies based on risk management principles and to draw a set of specific recommendations applicable both to local and general conditions.