Template-Type: ReDIF-Article 1.0
Author-Name: Kamil Janáček
Author-Name: Eva Zamrazilová
Title: Czech Economy at the Time of EU Entry
Abstract: In 2003, the economic growth moderately accelerated. The main factor of this acceleration was massive household consumption accompanied by the revival of fixed capital formation. Gradual narrowing of the gap between consumer and investment demand was one of major achievements of 2003, supporting the long-term sustainability of Czech economic growth. In 2003, both imports and exports accelerated, the trade deficit remaining at the same level as in 2002. Considering acceleration of Czech economic growth in 2003, stagnating level of trade deficit is favourable. The reason for continuously high current account deficit is growing deficit of income balance and declining surplus of service balance. The deficit of the current account in the last two years was not provoked by growing imports (as in the nineties), but has been predominantly the price for the massive foreign direct investment inflows in the past decade.
Keywords: economic growth, labour market, inflation, external balance, investment demand, consumer demand
Classification-JEL: E20, O11, O52
Pages: 195-216
Volume: 2004
Issue: 3
Year: 2004
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=239.pdf
File-URL: http://www.vse.cz/pep/239
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2004:y:2004:i:3:id:239:p:195-216

Template-Type: ReDIF-Article 1.0
Author-Name: Marek Loužek
Title: Voting Power Indicators in the European Union
Abstract: The article is concerned with voting power indicators in the European Union and one paradox arising from them. The first chapter defines voting power indicators exactly. The second chapter defines the paradox of new members and introduces some examples. The third chapter specifies data - voting power indicators in the EU. The fourth chapter computes differences between old and new voting power indicators. The fifth chapter summarizes the frequency of the paradox of new members in total. The sixth chapter brings a conclusion.
Keywords: EU enlargement, voting indicator, index of power, minimal winning coalitions, game theory, quantitative analysis
Classification-JEL: C12, C43
Pages: 217-236
Volume: 2004
Issue: 3
Year: 2004
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=240.pdf
File-URL: http://www.vse.cz/pep/240
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2004:y:2004:i:3:id:240:p:217-236
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/240

Template-Type: ReDIF-Article 1.0
Author-Name: Marie Vavrejnová
Author-Name: Eva Belabed
Author-Name: Karl Wörister
Title: Pension Reform in the Czech Republic: Present Situation and Future Prospects (A Comparison with Austria)
Abstract: This paper deals with present situation and future development of pension reform in the Czech Republic. A comparison with neighboring country - Austria, has been done. Parametrical reforms of pay as you go systems in both countries are compared and evaluated. Pretensions to introduce the multi-pillar pension system are commented and appraised. Some opacities in current definitions of private pension systems are mentioned. Specific risks of different pillars are introduced, together with the necessity to monitor costs of the pension administrative itself. Aging of the society and public budgets deficit are very important circumstances influencing the pension policy, however, the main aim of reforms should be the creation of a modern system, supporting the maintenance of the living standard of the elderly. Well functioning labour market and developed financial market for a modern pension system are indispensable.
Keywords: labour market, pension reforms, aging, multi-pillar system
Classification-JEL: J14, J18, J21, J26
Pages: 237-259
Volume: 2004
Issue: 3
Year: 2004
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=241.pdf
File-URL: http://www.vse.cz/pep/241
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2004:y:2004:i:3:id:241:p:237-259
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/241

Template-Type: ReDIF-Article 1.0
Author-Name: Menbere Workie Tiruneh
Title: An Empirical Investigation Into the Determinants of External Indebtedness
Abstract: This paper finds that poverty (the savings gap), income instability, and external factors that include debt service payments and capital flight to be the main causes of overseas borrowing by developing countries in the 1980s and 1990s. As far as the empirical strategy is concerned, the application of a panel data approach seems to be highly preferred, as it allows to control time-specific events that are linked to overseas borrowing, particularly given the rapid changes in the global macroeconomic environment in the past years. Moreover, this strategy helps to produce a more robust explanation by allowing to incorporate country-specific factors as developing countries themselves are heterogeneous in terms of their colonial heritages, geopolitical and strategic significance, and creditworthiness, all affecting the level of indebtedness and the potential bargaining power to manage the subsequent debt crisis.
Keywords: panel data, external debt, heavily indebted poor countries
Classification-JEL: C13, C33
Pages: 261-277
Volume: 2004
Issue: 3
Year: 2004
File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=242.pdf
File-URL: http://www.vse.cz/pep/242
File-Format: text/html
Handle: RePEc:prg:jnlpep:v:2004:y:2004:i:3:id:242:p:261-277
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/242