Acta Oeconomica Pragensia, 2017 (vol. 25), issue 4

THE RELATIONSHIP BETWEEN INTERNATIONAL TOURIST ARRIVALS AND FOREIGN DIRECT INVESTMENT: A GRANGER CAUSALITY ANALYSIS

Ly-Pham ThiMinh, Hieu LeMinh, Phung-Tran ThiPhi

Acta Oeconomica Pragensia 2017, 25(4):3-12 | DOI: 10.18267/j.aop.586  

It is widely recognized that a rapid increase in foreign direct investment leads to an increase in tourism at different levels. This paper applied a Granger Causality test to investigate the causal relationship between International Tourist Arrivals (ITA) and Foreign Direct Investment (FDI) across countries. By using time series data from six countries in the top ten European destinations (France, Spain, Italy, Germany, Turkey, and the United Kingdom) for the 1980-2014 period, the findings reveal that there is a unidirectional causality between ITA and FDI. The results are strongly proven with the same results when the lag between FDI and ITA is lengthened...

The Impulsiveness of the Roma Minority, the Czech Majority and the Psychological, Demographic, and Socioeconomic Correlations

Petr Houdek, Nina Rybáková

Acta Oeconomica Pragensia 2017, 25(4):13-38 | DOI: 10.18267/j.aop.587  

The article examines the differences in individual discount rates among the Roma ethnic group (Gypsies) and the Czech ethnic group. Low income, low education, and currently unemployed participants (Roma N=27, Czechs N=23) were subjected to pilot experiments based on in-depth questionnaires. In addition to impulsivity (delay-discount rates), the correlation with cognitive aptitude, risk attitudes, and various socioeconomic and demographic characteristics were analysed. Even though the Roma group was characterised by lower cognitive abilities, education, and financial literacy, our results indicate that participants from both groups appear to be equally...

The Competitiveness of Nations: Development of the Theoretical Basis and the Most Competitive Country in the World in 2016

Eliška Kačírková

Acta Oeconomica Pragensia 2017, 25(4):39-58 | DOI: 10.18267/j.aop.588  

In 2000 the European Council adopted to the European Union for a period of 10 years the aim to become the most competitive and dynamic knowledge-based economy in the world, capable of sustainable economic growth with more jobs and better working place, including social cohesion and respect for the environment. The Lisbon strategy was than followed up by the Europe 2020 strategy, which incorporated the revised goals of the Lisbon Strategy in order to become the most competitive economy in the world. Howerver the concept of the competitive state remains unclear. This article aims to show the major currents of thought and definitions, respectively, the...

European Deposit Insurance and the Bank Resolution System: An Opportunity to Extend the Single Resolution Mechanism

Lukáš Marek

Acta Oeconomica Pragensia 2017, 25(4):59-76 | DOI: 10.18267/j.aop.589  

The aim of this paper is to analyse the potential design and competences of a European Deposit Insurance System, which would extend the operation of the existing Single Resolution Mechanism. The analysis also builds on the design of the Federal Deposit Insurance Corporation (FDIC) operating in the US, which is endowed with both resolution and deposit insurance competences. I argue that the Single Resolution Fund (SRF) could be transformed into a Single Resolution and Deposit Insurance Fund (SRDIF) whose capacity would be increased to 1.8% of insured deposits. SRDIF resources would be available both for bank resolution and deposit pay-outs. The main...

Half-Forgotten Personalities of Economic Thought - A. Toffler

Pavel Sirůček

Acta Oeconomica Pragensia 2017, 25(4):77-86 | DOI: 10.18267/j.aop.590  

A. Toffler was an American writer, a journalist, a speculative and futurist-sociologist often referred to as the "guru" of futurology, and the author of a number of influential world bestsellers. He is famous in the wider public through works concerning the impacts of modern technologies, digitalisation, the information revolution, and great civilization waves in the rapidly approaching future.

Čtvrtá průmyslová revoluce a společnost 5. 0

Pavel Sirůček

Acta Oeconomica Pragensia 2017, 25(4):87-92 | DOI: 10.18267/j.aop.591