Authors:Tereza De Castro, Jana Vlčková and Pavel Hnát
televize ( 2016 ): Cínské investice v Cesku se mají do ctyr let rozrust na 232 miliard . [China’s Investment in theCzechRepublic is Expected to Grow to 232 Billion in Four Years]. http://www.ceskatelevize.cz/ct24/ekonomika/1739449-cinske
The article focuses on the relationship between economic growth and financial intermediation, with special focus on the process of catching up in three Central and Eastern European economies: Hungary, the Czech Republic and Poland (CEC-3). The depth of financial intermediation and economic growth exhibit a close, direct relationship with each other. According to recent studies the relationship is causal and the level of financial development is a good indicator of future economic growth. Examining the relationship between the two factors is especially important for these Central and Eastern European economies, where the level of financial intermediation is very low compared to that of developed countries. The lack of financial deepening is even more pronounced taking into consideration that there is a significant catching-up process in every other areas of the economy. The initial proposition here is that in order to these countries catching up, their economic growth must necessarily be accompanied by a marked financial deepening, without which long-term economic growth is impossible. It is absolutely necessary that in the future the role of bank loans in these economies increases significantly and that a period characterised by a lending boom follows. The lending boom should occur in CEC-3 is not an unequivocal sign of imprudent lending or a supply-side expansion of bank loans - on the contrary, it should be viewed as complementary to the economic development at the given economic stage.
Authors:Jan Čadil, Karel Mirošník and Ludmila Petkovová
with Capital Varieties: The Case of theCzechRepublic . Czech Journal of Economics and Finance 63 ( 3 ): 262 – 287 .
Ministry of Industry and Trade ( 2011 ): Back to the Top –International Competitiveness
Authors:Leszek Morawski, Małgorzata Kalbarczyk-Stęclik and Rafał Miśta
Equivalence scales are commonly employed in income analysis to compare the wealth of households of various compositions (e.g., 0-child, 1-child). The choice of weights for this type of analysis is not self-evident. In this paper, subjective equivalence scales for households in Poland, the Czech Republic, and Hungary are estimated. We use longitudinal EU-SILC data for 2005–2012 following the approach of Goedhart et al. (1977) as employed by Bishop et al. (2014). The use of longitudinal data shows that previous results on the subjective minimum income that were based on the OLS estimates for cross-section data overestimated the impact from current income and underestimated the role of economies of scale. Subjective equivalence scales imply a decreasing marginal cost of children in the three countries, which makes them distinct from the OECD scale. The marginal cost of a first child is similar to the values assumed in the OECD scale, but the cost of a second child is much lower.
Authors:Lea Kubíčková, Martina Toulová, Marcela Tuzová and Lucie Veselá
Foreign competition in domestic markets is still strengthening and for small and medium-sized enterprises (SMEs) internationalization may be one way to deal with this growing rivalry. Pangarkar (2008) states that for SMEs the benefits of internationalization outweigh its disadvantages and that with the increasing degree of involvement in the internationalization process the performance of SMEs also improves. However, for SMEs from some sectors of our economy, involvement in internationalization is more complex than for large enterprises; moreover, they are often inclined to enter foreign markets due to different motives. The authors carried out several surveys among Czech SMEs during the last three years and found that SMEs from some sectors of the Czech economy mentioned the EU accession of the Czech Republic as their motive for internationalization. The aim of this paper is to find out whether EU membership represents the determining factor of the SMEs’ decision to get involved in internationalization, and what its advantages or disadvantages are as perceived by SMEs in connection with their international activities. Conclusions are drawn on the basis of primary data obtained from Czech SMEs through electronic questionnaire surveys.
Authors:Petra Baji, Márta Péntek, Imre Boncz, Valentin Brodszky, Olga Loblova, Nóra Brodszky and László Gulácsi
In the past few years, several papers have been published in the international literature on the impact of the economic crisis on health and health care. However, there is limited knowledge on this topic regarding the Central and Eastern European (CEE) countries. The main aims of this study are to examine the effect of the financial crisis on health care spending in four CEE countries (the Czech Republic, Hungary, Poland and Slovakia) in comparison with the OECD countries. In this paper we also revised the literature for economic crisis related impact on health and health care system in these countries. OECD data released in 2012 were used to examine the differences in growth rates before and after the financial crisis. We examined the ratio of the average yearly growth rates of health expenditure expressed in USD (PPP) between 2008–2010 and 2000–2008. The classification of the OECD countries regarding “development” and “relative growth” resulted in four clusters. A large diversity of “relative growth” was observed across the countries in austerity conditions, however the changes significantly correlate with the average drop of GDP from 2008 to 2010. To conclude, it is difficult to capture visible evidence regarding the impact of the recession on the health and health care systems in the CEE countries due to the absence of the necessary data. For the same reason, governments in this region might have a limited capability to minimize the possible negative effects of the recession on health and health care systems.
stable growth rate in the CEE countries, such as Hungary, Poland, theCzechRepublic, Romania, and Croatia in recent years are especially remarkable, and they are usually good choices for market participants looking to diversify their portfolios
Turnovec, F. (2000): Privatization and Transparency: Evidence from theCzechRepublic. In: Hölscher, J. (ed.): Financial Turbulence and Capital Markets in Transition Countries. London: Macmillan Press, New York: St Martin's Press