Template-Type: ReDIF-Article 1.0 Author-Name: János Kornai Title: Velká transformace střední a východní Evropy: úspěch a zklamání Title: The great transformation of central and eastern Europe: success and disappointment Abstract: The study examines the changes of the Central Eastern European region first in the context of world history. It confirms by comparative historical analyses that the transformation was indeed unique. This has been the only total transformation that took place peacefully, without violence, and at the same time astonishingly fast, in the main direction of the economic and the political changes of Western civilization. From that perspective it is an exceptional success story. However, from the perspective of everyday life, the result is different. Deep economic troubles are experienced by a considerable portion of the population. The perception of losses is intensified by various cognitive problems. Based on the experience of today's generation, evaluating the change as an unequivocal success would be unwarranted. Both approaches are justified: it would be wrong to blend the two and to weigh them by the same scale. Keywords: convergence, Central Eastern Europe,, transition economies,, main direction of political and economic transformation,, cognitive problems, Classification-JEL: P2, P3, P5 Pages: 435-466 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=568.pdf File-URL: http://www.vse.cz/polek/568 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:568:p:435-466 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Hanousek Author-Name: Evžen Kočenda Author-Name: Jan Švejnar Title: Rozdělení, privatizace podniků a jejich výkonnost Title: Breakups, privatization and firms" performance Abstract: This paper uses new firm-level data to examine the effects of breakups of the Czech firms and their subsequent privatization on corporate performance. Unlike the existing literature, which analyzes breakups almost exclusively in advanced economies, we control for accompanying ownership changes and the fact that spinoffs and ownership are endogenous variables. We find that breakups increase the firm's profitability but do not alter its scale of operations, while the effect of privatization depends on the resulting ownership structure - sometime improving performance and sometime bringing about decline. The effects of privatization are hence less clear-cut than suggested in earlier studies. Methodologically, our study provides evidence that it is important to control for changes in ownership when analyzing divestitures and control for endogeneity, selection and data attrition when analyzing the effects of breakups and privatization. Keywords: privatization, breakups, corporate performance, endogeneity, firms? division Classification-JEL: D23, G32, G34, L20, M21, P47 Pages: 467-489 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=569.pdf File-URL: http://www.vse.cz/polek/569 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:569:p:467-489 Template-Type: ReDIF-Article 1.0 Author-Name: Štepán Jurajda Author-Name: Lubomír Lízal Author-Name: Daniel Münich Author-Name: Petr Zemčík Title: Hlavní ekonomické důsledky pořádání letních olympijských her v Praze v roce 2016 Title: Prague summer olympic games 2016: economic impact study Abstract: We evaluate the economic impact of Summer Olympic Games (SOG) potentially organized by the City of Prague in 2016. We focus on the so called Modified Northern Variant of the Games proposed by the PriceWaterhouseCoopers-Czech Republic. The first step in our analysis is quantification of a primary impact of the Games, which includes investments in infrastructure, expenditures of the SOG Organizing Committee, tourist expenditures and exports. The primary impact induces an increase in overall sales in the Czech economy, which is analyzed using input-output tables. Our respective estimates are 27.54 billion CZK for the primary impact and 55.44 billion CZK for the secondary impact. Keywords: input-output, Summer Olympic Games, Prague, economic impact Classification-JEL: H5, R15 Pages: 490-507 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=570.pdf File-URL: http://www.vse.cz/polek/570 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:570:p:490-507 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Baláž Author-Name: Andrej Londarev Title: Ropa a jej postavenie v globalizácii svetového hospodárstva Title: Oil and its position in the process of globalization of the world economy Abstract: This study is devoted to analysis of different aspects of world oil market development and its role in further growth of individual national economies, especially in connection with the ever intensifying globalization process. The study shows individual aspects and parts of the oil market, be it production and consumption of crude oil, its territorial dislocation, including EU, and also an analysis of the impact that has the development of oil consumption on economical results of individual national economies. In the first place it analyses the connections with the growth of competition ability of companies. Further research is devoted to the establishment of crude oil price and to the most important aspects on which depends the price creation process. Supply and demand factors are also analyzed. The study comes to a conclusion that the biggest obstacle in using the crude oil will not be its availability, at least in the short run, but the ever fast increasing price. This high price will enable the use of oil only to such companies and countries that will be able to implement the oil in the production process with very high efficiency. Such conditions satisfy only products and services that are based on unique technical and scientific know-how, with high added value, or in such areas of national economies where the use of oil is unenviable. Keywords: economic reform, competitivness, industrial policy, energy consumption, high tec, oil market, oil pricing, oil production, theory of the oil business Classification-JEL: B300, D240, D490, E220, E230, F230, L110 Pages: 508-528 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=571.pdf File-URL: http://www.vse.cz/polek/571 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:571:p:508-528 Template-Type: ReDIF-Article 1.0 Author-Name: Martina Vašendová Author-Name: Libor Žídek Title: Současná situace na ropném trhu Title: Contemporary situation on the oil market Abstract: The paper deals with questions connected with the present situation on the world oil market. First, we shortly focus on the context and the historical development of the prices of oil and the reactions of the market subjects. We discuss general factors on the oil market. And then we apply these factors to the current situation on the market. We try to find the main contemporary causes of the growth of the oil prices. We come to the conclusion that the main causes are connected with the growing demand on the market in contrary to (for example) the shocks in the 1970s that were caused by limited supply. Consequently, we concentrate on the impacts of the growth of the oil prices on the world economy. We found out that the impact is still very limited because the whole world economy is growing strongly and even the impact on the price level is very narrow. At the end of the paper we mention prognosis about the future of the oil market. Keywords: oil market, oil, price of oil, oil consumption, OPEC, USA, China Classification-JEL: F02 Pages: 529-541 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=572.pdf File-URL: http://www.vse.cz/polek/572 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:572:p:529-541 Template-Type: ReDIF-Article 1.0 Author-Name: Lubomír Cyhelský Author-Name: Vladimíra Valentová Title: Význam základní klasifikace ukazatelů pro korektní interpretaci vzájemných odlišností jejich hodnot Title: Importance of the basic classification of indicators for the correct interpretation of the mutual differences between their values Abstract: This paper focuses on the identification of the main criterion for the classification of basic indicators and their corresponding scales (nominal, ordinal, interval and ratio). The criterion is the number of meaningful categories of the formulation or measurement of all mutual differences of all potential values of the indicator. The paper insists on the necessity of distinguishing at least four types of the given indicator. The classification (and differences) of the indicators is included in the enclosed table. The purpose of the table is to: give information about the data arranged in an ordering scheme; further evaluate whether their differences are determined or they are meaningless; and investigate whether differences between values can be found and if ratios are meaningful or not. The meaning of the classification of indicators for a correct interpretation of the mutual differences between their values is emphasized. Keywords: classification of indicators, scales classification, nominal, ordinal, interval and ratio indicators and scales, importance of the basic indicators classification, correct interpretation of the differences between data values Classification-JEL: C10, C19, C49 Pages: 542-548 Volume: 2006 Issue: 4 Year: 2006 File-URL: http://www.vse.cz/polek/download.php?jnl=polek&pdf=573.pdf File-URL: http://www.vse.cz/polek/573 File-Format: text/html Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:4:id:573:p:542-548