Template-Type: ReDIF-Article 1.0
Author-Name: Milan Sojka
Title: Transformation, integration and inequality: the case of the czech republic
Abstract: The paper concentrates on the criticism of the Czech neo-liberal transformation strategy resulting from its implementation. It brings about an analysis of major factors leading to adverse effects on the restructuring of former big state-owned enterprises, on the structure of Czech exports (due to its stress on the "traditional" industrial comparative advantages and especially cheap labor), and on the development of earnings distribution from the point of view of a "meritocratic ideal". This analysis of earnings distribution and its development during the 1990s shows an important role plaid by factors that have lead to creating suitable conditions for predatory and speculative patterns of behavior. This analysis serves as a basis for supporting an alternative modernization strategy of transformation of former Soviet-type economies and societies.
Keywords: comparative advantage, economics of transition, Czech Republic, Czech neo-liberal transformation strategy, voucher privatization, speculative and predatory behavior, earnings distiribution, egalitarianism, meritocratic principles of distribution, modernization
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/86
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:86
Template-Type: ReDIF-Article 1.0
Author-Name: Jan Fidrmuc
Author-Name: Jarko Fidrmuc
Title: Macroeconomic development in the czech republic and accession to the european union
Abstract: This paper discusses the implications of accession of the Czech Republic to the European Union. First, we estimate the potential growth in the enlargement and the non-enlargement scenarios. Second, we provide a structural forecast of GDP components. We show that both forecasts are consistent. Accordingly, GDP growth is forecasted to be 4.5 % and 5.0 % in 2001 - 2004 and 4.2 % and 5.2 % in 2005 - 2010 for the accession and non-accession scenarios, respectively. The accession scenario follows the current cyclical pattern (recession 1998 - 1999, recovery 2000 - 2003, boom 2004 - 2007, and a soft landing in the following years), while the non-accession scenario would extend the current recession until 2005.
Keywords: transition, macroeconomic development, economic performance, growth prospects, process to accession
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/87
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:87
Template-Type: ReDIF-Article 1.0
Author-Name: Vladimír Tomšík
Author-Name: Eva Zamrazilová
Title: Czech foreign trade in the nineties: adaptation to developed markets
Abstract: The article deals with the problems of adaptation of Czech foreign trade to challenging markets of developed countries. It devotes special attention to the trade with the EU since the problems of adaptation, leading to growing trade deficits, were most profound in this territory. In the end of the nineties, the adaptation to developed markets proceeded rapidly, competitiveness of Czech exports quickly growing. Main Czech trading partners are treated separately in the third part of the article. Final part shows that reorientation of Czech foreign trade resulted in the creation of the new risky factors of Czech external balance. Regression analysis of foreign trade showed high dependence of Czech exports on West European, especially German, business cycle. High import intensity of Czech exports might thus cause the problems of external imbalance again, even under good export performance.
Keywords: European Union, foreign trade, import elasticity, export elasticity, monetary approach, Keynesian (income) approach
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/88
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:88
Template-Type: ReDIF-Article 1.0
Author-Name: Alena Zemplinerová
Title: Impact of foreign trade on market concentration (czech manufacturing industries in 1993 - 1997)
Abstract: The paper presents an empirical analysis of the relationship between international trade and market concentration. Market concentration is measured with and without adjustment for foreign trade and results are compared. On most markets the adjustment of domestic supply for exports and imports reduces market concentration. Most concentrated industries as a rule further concentrated and the least concentrated industries further de-concentrated during the period 1993 - 1997. Comparison of market concentration with the EU showed that manufacturing product markets that are in the EU very concentrated and for which economies of scale are typical, are not concentrated in the Czech Republic. This fact can imply a performance that is below the optimal scale and low competitiveness on the international markets. On the other hand, the least concentrated markets in the EU continue to be relatively more concentrated in the Czech Republic. These are often local markets on which foreign trade cannot create competition and should be therefore closely monitored by antimopoly authority.
Keywords: market concentration, international trade, antimonopoly policy
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/89
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:89
Template-Type: ReDIF-Article 1.0
Author-Name: Mária Havrilová
Title: How should the international monetary fund function in the modern world?
Abstract: The International Monetary Fund is a remarkable survivor. It was created to carry out specific functions in a world that has since vanished. Its role in the world economy still remains central. But in recent times, it has faced considerable criticism, both in terms of its role and its performance. We examine why IMF programs are often ineffective in achieving their goals, and whether there are any prospects for strengthening the IMF's role to become a genuine global monitor of financial flows and monetary issues. Then we examine the Fund's major role as lender of last resort to members who experience balance of payments problems. In particular, it will argue that the IMF's reliance on "conditionality" as a means of affecting change in the domestic policy of some of its members is misguided. Finally, a few suggestions on how the IMF could improve its procedures and brief evaluation of the IMF´s intervention in the Asian financial crisis.
Keywords: International Monetary Fund, South-East Asian financial crisis, international law, developing countries, international capital flows, world economy, debt crisis, macro-economic policy
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/90
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:90
Template-Type: ReDIF-Article 1.0
Author-Name: Chris Coeck
Title: A note on coase versus pigou: institutionalism versus interventionism
Abstract: A sharp distinction can be observed between A. C. Pigou and R. Coase regarding the solution of externality problems. Pigou advocated government intervention to solve externality problems whereas Coase remained sceptical about the efficiency and efficacy of intervention procedures and mechanisms. However, a much broader perspective should be adopted and the significance of different elements and building blocks of the scientific work of both authors has to be included in the analysis.
This note attempts to concentrate on the existing differences between A. C. Pigou and R. Coase, by relying upon the original contributions of these authors. As a result of the observed divergence between both theories, a focus on the difference between institutionalism and interventionism is instrumental to this article.
Keywords: externalities, government intervention, Pigou, Coase
Volume: 2000
Issue: 4
Year: 2000
File-URL: http://www.vse.cz/pep/91
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2000:y:2000:i:4:id:91