Template-Type: ReDIF-Article 1.0
Author-Name: Lubomír Mlčoch
Title: Czech privatization - penalties for the speed (a criticism of the radical liberalism)
Abstract: The Czech way of privatisation is frequently well appreciated, sometimes even as the lesson to be learned or model to be followed. The main topics pointed in the article are following: Is the voucher scheme in the situation of the lack of domestic capital a model to be followed? Mlčoch thinks the Czech way was "short". He considers the "short way" negative, inconsistent with his belief. Mlčoch also mentioned other problems of privatisation in the Czech Republic: Trade-off between the speed of change and business ethics, asymmetry between the nationalisation and privatisation, the speedy privatisation endangering the order, the fast privatisation endangered by formalism, the conflict between efficiency and social justice. He also put down the German case of shock therapy and the price that had to be paid.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/117
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:117

Template-Type: ReDIF-Article 1.0
Author-Name: Alois Holub
Title: Changes in trade of the czech republic with developing countries during the transformation period
Abstract: Despite some inaccuracies originating chiefly in statistical discrepancies, the analysis has shown that the role of developing countries in foreign trade of the Czech Republic reveals a clearly downward trend. This is observable even in comparison with the prevailing trends characterizing trade relations between developing countries and transformation economies as a group. In view of the fact that developing countries including China and Vietnam have been the most dynamic segment of the world economy during the first half of the 1990s, this downward trend gives no reasons to satisfaction. Moreover, their trade has been growing at markedly rapid rates than GDP. In these circumstances, the falling share of developing countries in Czech exports and imports indicates that Czech trade tends to lose opportunities to grow.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/118
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:118

Template-Type: ReDIF-Article 1.0
Author-Name: Petr Zahradník
Title: Banks in the czech republic: the current state and prospects
Abstract: The transformation of the Czech banking sector was launched on the principles adopted even before November 1989, when the monobank structure of Czech banking was abolished on January 1st, 1990. The former State Bank of Czechoslovakia, which fulfilled the functions of both monetary policy and commercial banking under the conditions of a centrally planned economy, was delimited on that date and the responsibility for monetary policy became its prerogative. The functions of commercial banking began to be fulfilled by the existing commercial banks, until then visibly subordinate to the SBČS (Česká státní spořitelna, Československá obchodní banka, Živnostenská banka in the Czech Republic, and Slovenská Štátna sporitel'ňa in Slovakia), as well as by the newly-established successors to the SBCS in the commercial sphere (Komerční banka in the Czech Republic, Všeobecná úverová banka in Slovakia) supplemented by Investiční banka, already an established bank at that time, which took over some important activities of the former SBČS.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/119
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:119

Template-Type: ReDIF-Article 1.0
Author-Name: Josef Jílek
Author-Name: Jiřina Jílková
Title: Foreign exchange positions and risks of czech banks
Abstract: Almost every bank has some degree of foreign exchange exposure. A bank, which holds net open positions in foreign currencies is exposed to the risk that exchange rates may move against it. Net open positions are due to foreign exchange trading positions or because of exposures caused by firm's overall assets and liabilities. Czech National Bank has imposed limits of FX risks and is thus limiting maximum potential loss of the Czech banking system. The paper describes the way how to calculate a bank's open FX positions and the current state of FX positions in selected Czech commercial hanks. The FX risk is a part of market risk. The Capital Adequacy Directive (CAD) and Basle Committee on Banking Supervision in its document Amendment to the Capital Accord to Incorporate Market Risks set out the minimum capital requirements for credit institutions and investment firms with respect to market risk.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/120
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:120

Template-Type: ReDIF-Article 1.0
Author-Name: Michaela Erbenová
Title: Regional labour mobility, wages and unemployment in the czech republic
Abstract: Evidence on inter - regional migration in the Czech Republic shows that the relatively large flows of workers across region which prevailed through the 1980's are declining over time, in spite of the widening regional differences in the labour market conditions. However, the regression analysis shows that the current migration trends can be explained in an intuitive way by the economic conditions. The finding that the net flows are directed from high - to low - unemployment districts supports the conventional view of migration as a mechanism diminishing the regional disparities. Nevertheless, since the migration process is slow and other things (in particular wages and structural regional shocks) are not constant, this process may not be immediately apparent in the short run.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/121
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:121

Template-Type: ReDIF-Article 1.0
Author-Name: Jiří Jonáš
Title: The international monetary fund in eastern europe: seven years of experience
Abstract: Almost seven years ago, in January 1990, the IMF approved for Poland its first stabilisation program in Eastern Europe. The Fund's role was to provide financial support to macroeconomic stabilisation in the wake of rapid liberalisation of prices, opening of foreign trade and devaluation of currency. In 1991, as reforms in Eastern Europe unfolded, stabilisation programs for other countries followed. During the nearly seven years since, the IMF has provided billions of USD to countries in the region, and all of the former centrally planned economies except Slovenia have received financial support from the IMF. The Fund's financial assistance never comes with no strings attached. Such assistance must serve not only the immediate purpose of balance of payments support but also the longer-term objective of eliminating the problems causing the recipient country to seek the Fund's assistance.
Volume: 1997
Issue: 1
Year: 1997
File-URL: http://www.vse.cz/pep/122
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:1997:y:1997:i:1:id:122