Template-Type: ReDIF-Article 1.0 Author-Name: Kamil Janáček Author-Name: Martin Čihák Author-Name: Marie Frýdmanová Author-Name: Tomáš Holub Author-Name: Eva Zamrazilová Title: Czech economy on a way back to growth Abstract: The paper contains an analysis of the current trends in the Czech economy, and a short-term outlook for 2000. The authors claim that the economy is going through a gradual turn from recession to stagnation and to a slight recovery. The main factors of the turn toward revival are exports, followed by private household consumption, while government consumption contributed only slightly to the increase of domestic demand. The authors see the main potential risk for the year 2000 in the need to stabilise economic growth and achieve its further acceleration. The success will mainly depend on a fast removal of financial barriers which the majority of Czech firms is now facing. Further inflow of foreign capital, growing competition pressures in the financial sector, the growth of exports, and a gradual increase of domestic demand are likely to help to overcome these barriers. Keywords: Czech economy, economic growth, macroeconomic analysis, financial barriers Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/70 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:70 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Křovák Author-Name: Jan Filáček Title: Czech economy in 2000 and 2001 Abstract: We predict that GDP will grow 1.5 % in 2000 after falling 0.2 % in 1999. Sluggish growth in 2000 will be driven by domestic demand, namely fixed investment. Interest rates set by the CNB are now in a "parking zone". The two-week repo rate remains at 5.25 %. We do not expect any significant (upward) changes during the course of this year. We expect average annual inflation (CPI) to increase to 3.8 % in 2000. Unemployment will rise to 10.8 % (at yearend) and employment will decline by 2 %. Real wages will grow by a modest 1.6 %. We predict that the trade gap will widen to CZK 85 bil. and the current account deficit will comprise some 2.4 % of GDP in 2000. The CZK against the euro will be more or less nominally stable. Keywords: Czech economy, unemployment, economic growth, wages, macroeconomic analysis, inflation Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/71 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:71 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Foltýn Author-Name: Jan Hřích Title: Czech foreign trade in the economic transition Abstract: This article describes the almost ten-years long history of Czech foreign trade in the broader context of economic transition. Dividing the history into two different parts (1991 - 1996 and since 1997 beyond) the paper tries to evaluate not only the results in the period mentioned, but also to assess the roots and causes, both external and internal. Besides shortcommings there were a number of positive achievments, expecially in the first period (rapid reorientation, stable terms of trade etc.) which, however, turned sour especially due to neglecting huge and rising trade balance deficits. The situation exploded by the spring time of 1997 and the measures taken (austrety "packages") have appeared only partially succesful so far. The world economy with its regional and financial turbulences and shakes of 1997/1999 made the situation even worse. Despite all negative factors the Czech trade balance improved partially in the period 1997 - 1999. Keywords: foreign trade performance, trade balance deficit, recession, recovery perspectives Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/72 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:72 Template-Type: ReDIF-Article 1.0 Author-Name: Mária Havrilová Title: Post-privatization corporate governance in eastern europe (the case of the czech republic) Abstract: After the collapse of communism, it was acknowledged that mass privatization was a priority for Eastern Europe. This paper examines why it was necessary to accelerate the process, and the various methods that were used. It focuses on the Czech system of voucher-based privatization. In the Czech experiment in transferring ownership rights is discussed a number of issues in relation to the post-privatization corporate governance. It is imperative that privatization is not perceived as an instant conversion from central planning to an idealistic model of a market economy. On the contrary, it is just the beginning of a long term, evolutionary process of institution building. Policy-makers need to realize that transition towards effective systems of governance may be jeopardized if left to market forces alone. Instead, it must be accompanied by robust regulatory measures, such as legal framework and capital and product markets. Keywords: Eastern Europe, Czech Republic, voucher-based privatization, distribution, shareholders, cross-ownership, investment funds, banks, market forces, robust regulatory measures Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/73 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:73 Template-Type: ReDIF-Article 1.0 Author-Name: František Turnovec Title: New issues in voting power analysis Abstract: The paper introduces concept of power indices with constraints on voting configuration formation, so called constrained power indices. It is shown in the paper that some of most frequently used power indices based on extremely simple model of weighted voting game can be extended for more sophisticated models of voting situations. Keywords: a priori unisons, committee, conflicting configuration structure, constrained power indices, spacial power indices Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/74 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:74 Template-Type: ReDIF-Article 1.0 Author-Name: Milan Žák Title: Economics for everybody and a cookbook for teachers Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/75 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:75 Template-Type: ReDIF-Article 1.0 Author-Name: Roman Matoušek Title: Original view on transformation of the czech banking system Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/76 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:76 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Dědina Title: Obligatory teaching aid for businessmen, economists and managers Volume: 2000 Issue: 2 Year: 2000 File-URL: http://www.vse.cz/pep/77 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:2:id:77