Politická ekonomie, 2017 (vol. 65), issue 2
Articles
Omezení nabídky úvěru solventní otevřené ekonomiky v rámci implementace kapitálových požadavků Basel III
Credit Supply Constraint of Solvent Open Economy within Implementation of Basel III Capital Requirements
Naďa Blahová, Karel Brůna
Politická ekonomie 2017, 65(2):141-160 | DOI: 10.18267/j.polek.1133
The article deals with constraint of credit supply consistent with external solvency of economy and solvency of banking sector under negative international investment position, foreign ownership of banking sector and growing bank´s capital and stable funding requirements. The target is to define main parameters of sustainable supply of funding of external capital providers and to test the relationships among determinants of external solvency, foreign sources of funding the economy and banking sector and credit aggregates in the Czech Republic using unrestricted ARDL ECM model. The results show growing inflow of debt funding motivated by export led...
Posouzení modelů odhadu tržního rizika s využitím DEA přístupu
Examination of Market Risk Estimation Models via DEA Approach Modelling
Aleš Kresta, Tomáš Tichý, Mehdi Toloo
Politická ekonomie 2017, 65(2):161-178 | DOI: 10.18267/j.polek.1134
Measuring and managing of financial risks is an essential part of the management of financial institutions. The appropriate risk management should lead to an efficient allocation of available funds. Approaches based on Value at Risk measure have been used as a means for measuring market risk since the late 20th century, although regulators newly suggest to apply more complex method of Expected Shortfall. While evaluating models for market risk estimation based on Value at Risk is relatively simple and involves so-called backtesting procedure, in the case of Expected Shortfall we cannot apply similar procedure. In this article we therefore focus on...
Analýza faktorů selekce a alokace české rozvojové pomoci s využitím panelových dat a metod Probit a Tobit
Factors of Czech Aid Selection and Allocation: Panel Probit and Tobit Analysis
Jaromír Harmáček, Miroslav Syrovátka, Zdeněk Opršal
Politická ekonomie 2017, 65(2):179-197 | DOI: 10.18267/j.polek.1135
The aim of our paper is to identify factors that influence the territorial selection and allocation of development aid of the Czech Republic. We applied random-effects probit and tobit models in our regression analysis which revealed that flows of Czech aid to individual developing countries are determined by variety of factors. Czech interests and mutual relations were mostly identified as statistically significant determinants, namely export volumes, closer historical relations and geographical proximity. The presence of Czech embassy in a country was not confirmed as a significant factor. The reflection of recipients' needs in Czech aid selection...
Motívy zakladania onshore a offshore spoločností slovenskými podnikmi v roku 2014
Motives of Establishing of New Onshore and Offshore Companies by the Slovak Enterprises in 2014
Peter Krištofík, Michal Ištok, Gabriela Nedelová
Politická ekonomie 2017, 65(2):198-216 | DOI: 10.18267/j.polek.1136
We contribute to the rare evidence of driving motives of establishing new onshore and offshore companies by analysing the situation in the Slovak Republic in 2014. We analyse financial and ownership data for the Slovak enterprises already included in onshore and offshore business, providing data by corporate service providers on the driving motives and their combination for the Slovak customers in 2014 and the available external data assessing the quality of the Slovak business environment. We present the empirical evidence that the motive of tax benefits is ranked as the most important, followed by the anonymity of the UBO, flexible arrangement of...
Vplyv aglomeračných úspor na rast zamestnanosti v kreatívnych odvetviach na Slovensku
The Impact of Agglomeration Economies on Employment Growth in the Creative Industries in Slovakia
Slávka Klasová, Iveta Korobaničová, Peter Burger
Politická ekonomie 2017, 65(2):217-233 | DOI: 10.18267/j.polek.1137
The paper explores the impact of agglomeration economies on employment growth in the creative industries in Slovakia between 1998 and 2014. Using a spatial econometric model it has been confirmed that related variety plays a significant role in employment growth in creative industries, while significance of unrelated variety has not been confirmed. In other words, the districts specialising in different, but at the same time cognitively and technologically related creative sectors, have achieved higher employment growth in comparison to those specialising either in one selected creative sector, or in unrelated sectors. Moreover, the results indicate...
INŠTITUCIONÁLNE A MAKROEKONOMICKÉ PROSTREDIE FIRIEM
Institutional and Macroeconomic Environment of Corporations
Zuzana Kittová, Dušan Steinhauser
Politická ekonomie 2017, 65(2):234-248
With respect to the occurrence of economic crises it may be observed that economic performance of countries is determined by the quality of its institutions. It is the corporate governance failure that is said, in line with the new institutional economic theory, to be among reasons for the recent international financial and economic crisis. This study has the goal of confirming, by empirical analysis, the existence of correlation between, on one hand, the quality of the institutional environment expressed by index of economic freedom and by its selected subindexes, and, on the other hand, the macroeconomic environment for corporates - as characterised...
Book reviews
Moderní učebnice makroekonomické analýzy
Martin Mandel
Politická ekonomie 2017, 65(2):251-255
Diskontinuitní vývoj vlastnictví k půdě od předválečné pozemkové reformy do současnosti
Václav Průcha
Politická ekonomie 2017, 65(2):256-263 | DOI: 10.18267/j.polek.1100
From scientific life
Malé ohlédnutí za výjimečným člověkem
Václav Žďárek, Milan Žák
Politická ekonomie 2017, 65(2):249-250 | DOI: 10.18267/j.polek.1141