Politická ekonomie, 2004 (vol. 52), issue 6
Articles
Budování institucí v České republice
Building institutions for the Czech Republic
Jiří Havel
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.486
Badly defined institutional framework caused many problems of the Czech transition. Designers of the economic reform did not respect the importance of precisely functioning market institutions. No doubts that building institutions supports the functioning of markets. The article analyses why Czech economists and politicians did not understand the problem in the beginning and how they attempted to correct this initial mistake. The Czech (Slovak) economy was in a worse situation if compared with other central European countries because any private sector did not exist there before 1990. Both formal and informal institutions were built here in the green...
Výnosy z přímých zahraničních investic a jejich rozdělení v České republice
Foreign direct investment earnings and their division in the Czech Republic
Filip Novotný
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.487
The Czech economy has been characterized by a rapidly increasing external income balance deficit since 1998, which was caused by an increasing outflow of FDI earnings. The paper analyses factors, which determine the total amount of FDI earnings in a host economy and their subsequent division into reinvested earnings and repatriated profits. Three main factors are examined: total FDI stock in the economy and its structure, the FDI rate of return and the FDI financial life cycle. Growing total FDI stock, which reaches 51 % of Czech GDP, is the most influential factor because the FDI rate of return has been approximately stable exceeding 10 %. An outstanding...
Význam forem diskontování v ekonomickém modelování
The role of discounting type in economic modelling
Michal Andrle, Jan Brůha
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.488
This paper reviews important approaches to discounting in economic modelling. It summarizes historical approaches and discusses why exponential discounting has been adopted as a widely accepted benchmark. The article then presents hyperbolic discounting as an alternative, while stresses different interpretation of discounting in positive and normative economics. In positive economics, the paper uses recent evidence to show that some observed regularities implied by exponential discounting are counterfactual and we illustrate different implications of the two approaches to discounting using numerical simulations of a stylized model of investment-consump-...
Nastává při rozšíření Evropské unie paradox nových členů?
Does paradox of new members come into being during the EU enlargement?
Marek Loužek
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.489
The article asks whether a paradox of new members comes into being during the EU enlargement. The first chapter defines the paradox of new members and examines its frequency in political communities. The second chapter introduces practical examples of the paradox and specifies voting power indicators in the EU. The third chapter brings empirical results - frequency of the paradox during EU enlargement. The fourth chapter tests some hypotheses and defines a disproportionality index. The fifth chapter summarizes conclusions.
Rozvojové země v éře ekonomické globalizace
Developing countries in economic globalization era
Jiří Fárek, Jaroslav Foltýn
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.490
This article describes core changes, both theoretical and practical, of DC's action unity and its new features after the globalization acceleration during the 90's and the beginning of 21st century. Following re-defintion of basic terminological issues the authors show that the "unity of purpose" famous in the 70's has not yet evaporated as predicted by some authors in the late 80's. The case is analyzed and ilustrated by the failure of 5's WTO Summit in Cancún, September 2003 and also negotiations connected with the creation and activities of Group 21. The problems of agricultural subsidies are in the centre of attention with possible impact on international...
Nový regionalismus: teorie a projevy ve světové ekonomice
New regionalism: theory and trends in the world economy
Eva Cihelková
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.491
The aim of the article is to outline the theoretical grounds of regionalism and, in particular, to explain the basis of this new phenomenon, its forms (stages) and historical development. The core of the explanation is a "new" regionalism as the third wave of regionalism in the world economy: its interpretation, causes, diversity and cases of regional integration. Furthermore, trends in regional development of trade initiatives have been outlined (from the "old" to "new" regionalism, from a "looser" to "deeper" integration, from individual cases to "global" regionalism.) In the conclusion, areas requiring further examination in connection with the...
Consultations
Metodologie Rakouské školy
Methodology of the Austrian school of economics
Milan Říkovský
Politická ekonomie 2004, 52(6) | DOI: 10.18267/j.polek.492
One of the distinctive features of the Austrian school of economics is its emphasis on the methodological foundations of economics and social sciences in general. The two pillars of the approach of this school are methodological individualism and subjectivism. The purpose of this essay is not only to identify a few of the principles with which most Austrians are in agreement but also to emphasise significant diversity within their common viewpoint. An accent is put on praxeology introduced by Mises and Hayek's requirement of "empirical elements" concerning the processes of human learning. It is further emphasised that within this diversity has run...