Template-Type: ReDIF-Article 1.0 Author-Name: Kateřina Šmídková Author-Name: Aleš Bulíř Title: Would Fast Sailing Towards the Euro Be Smooth? What Fundamental Real Exchange Rates Tell Us Abstract: Computed fundamental real exchange rates in four new EU members point to difficulties in jointly entering the ERM II soon after the EU entry. Three currencies out of the four were overvalued prior to EU entry. Computations suggest that it is unlikely that the Czech, Hungarian and Polish economies will maintain low inflation during 2004 - 2010 and at the same time keep their currencies within the ERM II easily. Moreover, the experience of Greece, Portugal and Spain - viewed through fundamental real exchange rate goggles - indicates more stable real exchange rate paths and smaller currency misalignments prior to euro adoption than can be expected from the newcomers in the forthcoming years. If the newcomers sail too fast towards the euro, their sailing may not be as smooth as that of the front runners. Keywords: foreign direct investment, fundamental real exchange rates, euro, acceding economies Classification-JEL: F31, F33, F41, F47 Pages: 291-316 Volume: 2005 Issue: 4 Year: 2005 File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=267.pdf File-URL: http://www.vse.cz/pep/267 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:4:id:267:p:291-316 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/267 Template-Type: ReDIF-Article 1.0 Author-Name: Andrei Medvedev Author-Name: Alena Zemplinerová Title: Does Competition Improve Performance? Evidence from the Czech Manufacturing Industries Abstract: The paper investigates both the impact of domestic and import competition on performance of manufacturing industries in the Czech Republic in 1998 - 2002. Using panel data we found a strong increasing non-linear (diminishing) relationship between performance of manufacturing industries and domestic competition measured by the Herfindahl-Hirschman Index. Import competition measured by an import penetration ratio is negatively related to performance of Czech industries, while foreign direct investments are positively correlated with performance. Keywords: competitiveness, competition, transition, Czech Republic, growth, concentration Classification-JEL: D24, L60, P23 Pages: 317-330 Volume: 2005 Issue: 4 Year: 2005 File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=268.pdf File-URL: http://www.vse.cz/pep/268 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:4:id:268:p:317-330 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/268 Template-Type: ReDIF-Article 1.0 Author-Name: James D. Goodnow Author-Name: Pavel Vopařil Title: A Classification of International Business Strategies in the Czech Republic: A Longitudinal Analysis of Selected Firms Abstract: This study is focused on relationship between external and internal impact on decision-making influencing international business strategies in transitional economy. Drawing from secondary and primary interview data on international business activities of 18 startups and 20 enterprises operating in the Czech Republic (including firms controlled by both domestic and foreign investors), respectively, the authors propose five strategies. In general, the findings suggest that strategies developed by domestically owned niche-focused or recent startups and those carefully guided by inbound foreign direct investors are more successful. Moreover, the more successful (i.e., those experiencing significant domestic and international sales growth) are those who develop unique marketing strategies. Uncontrollable externalities do not appear to have an impact on firms' success or failure. The regionally oriented exporting tends to be the dominant strategy. Globally oriented export activities are relatively modest whereas outbound direct investment strategies are very minor compared with inbound foreign direct investment activities. Keywords: international bussiness strategies, transitional economy, foreign direct investors Classification-JEL: G31, L1, P2, P31 Pages: 331-349 Volume: 2005 Issue: 4 Year: 2005 File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=269.pdf File-URL: http://www.vse.cz/pep/269 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:4:id:269:p:331-349 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/269 Template-Type: ReDIF-Article 1.0 Author-Name: Mete Feridun Title: Investigating the Economic Impact of Immigration on the Host Country: The Case of Norway Abstract: This article aims at investigating the nature of the causal relationship between immigration and economic development measured by GDP per capita in Norway using Granger causality test. The results on the unit root test indicate that all the series are non-stationary and are in I(1) process. The Johansen cointegration test reveals that there is no cointegration among the data sets. The Granger causality test shows that when the level of immigration increases, GDP per capita also increases. It has also been found that immigration has no impact on unemployment, and vice versa. Keywords: unemployment, cointegration, economic development, immigration Classification-JEL: F41, J6, O11, O14, O24 Pages: 350-362 Volume: 2005 Issue: 4 Year: 2005 File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=270.pdf File-URL: http://www.vse.cz/pep/270 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:4:id:270:p:350-362 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/270 Template-Type: ReDIF-Article 1.0 Author-Name: Jiří Hlaváček Author-Name: Michal Hlaváček Title: Cruel Altruism Abstract: This article shows that the altruism of the donator could have different forms. The specific form of his optimisation criterion significantly influences his decision making concerning the allocation of his resources among recipients. Moreover, even within one chosen criterion we could report sudden changes in strategy of a rational donator. This donator, even if he is so called 'hard altruist' (i.e. subject preferring community interests to his individual interests), he could be forced to make a 'gambit', when he sacrifices one from the subjects supported in favour of survival of the community as a whole. This preferring of whole community to individual interests could lead to liquidation of the least resistant member of the community. This is quite surprising as this member of the community was the most heavily supported before. Altruism could be cruel. Keywords: altruism, donator and recipient, criteria of donators Classification-JEL: D000, D300 Pages: 363-374 Volume: 2005 Issue: 4 Year: 2005 File-URL: http://www.vse.cz/pep/download.php?jnl=pep&pdf=271.pdf File-URL: http://www.vse.cz/pep/271 File-Format: text/html Handle: RePEc:prg:jnlpep:v:2005:y:2005:i:4:id:271:p:363-374 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlpep/references/271