Publikační činnost Katedry národohospodářské / Publications of Department of National Economy (156)

Permanent URI for this collectionhttp://hdl.handle.net/10084/64798

Kolekce obsahuje bibliografické záznamy publikační činnosti (článků) akademických pracovníků Katedry národohospodářské (156) v časopisech registrovaných ve Web of Science od roku 2003 do roku 2020. Katedra byla zrušena.
Do kolekce jsou zařazeny:
a) publikace, u nichž je v originálních dokumentech jako působiště autora (adresa) uvedena Vysoká škola báňská-Technická univerzita Ostrava (VŠB-TUO),
b) publikace, u nichž v originálních dokumentech není v adrese VŠB-TUO uvedena, ale autoři prokazatelně v době jejich zpracování a uveřejnění působili na VŠB-TUO.

Bibliografické záznamy byly původně vytvořeny v kolekci Publikační činnost akademických pracovníků VŠB-TUO, která sleduje publikování akademických pracovníků od roku 1990.

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Now showing 1 - 20 out of 61 results

What drives small business crowdfunding? Impact of macroeconomic and financial factors
(Univerzita Karlova. Fakulta sociálních věd, 2022) Adámek, Emil; Janků, Jan
This paper responds to the growing popularity of micro finance platforms and the associated increasing volume of funding flowing through these platforms. This development also increases scientific attention to reward-based crowdfunding financing, an alternative to traditional bank loans and debt-based microloans. We choose a macroeconomic approach to look at the factors influencing the demand for crowdfunding funds in a particular country each year. Using a unique dataset extracted from the Crowdsurfer web service, we show that the volume of requested funds through reward-based crowdfunding projects in 27 OECD countries from 2009 to 2016 depends on the availability, effectiveness, and depth of the traditional banking sector institutions and financial markets. Our analysis also shows that macroeconomic variables such as GDP growth affect the demand for reward-based CF financing in the same way they influence demand for traditional bank loans. Finally, we suggest that the demand for reward-based CF loans is driven by similar motives as the demand for shadow banking loans in general.
Parametric and semiparametric efficiency frontiers in fishery analysis: Overview and case study on the Falkland Islands
(Springer Nature, 2021) Mainardi, Stefano
Provision of adequately valued individual transferable quotas and effort quotas is essential for sustainability and profitability of a fishery. Despite possible misleading consequences for policy-making, the extent to which fishery inefficiency estimates and rankings may depend on the model used, has received less attention. This paper first reviews determinants of fishers' behaviour under regulated harvesting, with the Falkland Islands as focus case. Next, a 'best scenario' long-term equilibrium framework is outlined, under a regime of transferable effort quotas and fishing seasons as implemented in the Islands, followed by an overview of panel data stochastic frontier models, with specific regard to fisheries. To test hypotheses and impact of a mainly ITEQ-based regime for Falkland fisheries, two parametric and one semiparametric model rely on different assumptions on frontiers and inefficiency scores. Relative to companies operating in Falkland seas, regression estimates highlight the relevance of economies of scale, vessel ownership, and climatic factors among others, with improved cost effectiveness, and revenue efficiency frontier-enhancing/inefficiency-reducing effects, following the implementation of the new regime. Within either modelling approach, inefficiency differs marginally across regression specifications, but mismatches in levels and rankings emerge between parametric and semiparametric models. Relative to southern hake catches by Falkland trawlers, the semiparametric approach suggests upward shifts in output frontiers under the new fishery regime, with inefficiency scores substantially unaltered between two functional specifications.
Parametric and semiparametric efficiency frontiers in fishery analysis: Overview and case study on the Falkland Islands (Apr, 10.1007/s10640-021-00557-x, 2021)
(Springer Nature, 2021) Mainardi, Stefano
Preference heterogeneity, neighbourhood effects and basic services: logit kernel models for farmers’ climate adaptation in Ethiopia
(Springer Nature, 2020) Mainardi, Stefano
Climate change adaptations by farmers are usually analysed with multinomial choice models, which ignore heterogeneity and 'mixing' across alternatives and individuals. Moreover, not enough attention is devoted to basic utilities other than extension services. Aimed at a reassessment that accounts for these issues, this paper formulates conditional and mixed logit (logit kernel) models with/without neighbourhood effects. In particular, a spatial logit kernel allows capturing behavioural differences and interdependence between neighbours. The analysis was based on a survey covering 162 villages of the Ethiopian Nile basin, with 50 farm households-multistage stratified randomly sampled-in each of 20 districts (woredas). Supplementary information concerned linear programming solutions on adaptation choice attributes in smallholder farming areas, under two scenarios. Lastly, cross-district aid emergency allocation priorities for food security and agriculture, among others, served as yardsticks for comparison with prevailing adjustment decisions and location characteristics. Closeness to farms with more educated farmers and larger plot sizes turned out to increase the likelihood of a household opting to sell livestock and land along with combined measures of farmland enhancement. Logit kernel outperformed conditional logit in explanatory power, and random parameters highlighted individual and group heterogeneity in preferences. Access to electricity, healthcare, and reliable and safe water supply strengthen farmers' ability to respond to climate change. Specific adaptation measures can contribute in turn to improve the capacity of rural communities to mitigate the severity of health and nutrition crises. By contrast, inworedashit by recurrent epidemics and droughts, many farmers appear to be unable to resort even to basic adaptation measures, such as planting of new trees. This prompts an additional need for institutional support and infrastructure development.
Commuting pays off: Evidence on wage returns to inter-urban and intra-urban commuting
(Akademie věd České republiky, Ústav geoniky, 2020) Vontroba, Jakub; Balcar, Jiří; Šimek, Milan
The distance a person is willing to commute has a direct influence on her/his employment opportunities and wage level. It raises a lot of interesting questions, especially whether intra-urban commuting (due to a welldeveloped transport infrastructure, geographical concentration of job opportunities, etc.) is connected with any wage returns, and how they differ in comparison with those of inter-urban commuting. This article uses three data-sets at national (N-1 = 1,884; N-2 = 933) and local (N-3 = 3,193) levels from the Czech Republic, and different approximations of commuting in order to contribute to the discussion. It provides robust evidence on positive wage returns to both inter-urban and intra-urban commuting, comparable with Western countries. The differences between large national and limited urban labour markets are reflected in functional form: wage returns are linear for intra-urban and non-linear for inter-urban commuting. The article also explores the validity of different measures of commuting time and distance provided by the on-line application Mapy.cz, and suggests that it represents a suitable approximation in the case of missing or limited data.
Business dynamics, knowledge economy, and the economic performance of African countries
(Sage, 2020) Asongu, Simplice A.; Amavilah, Voxi Heinrich S.; Andrés, Antonio Rodríguez
This paper develops a framework (a) to examine whether or not the African business environment hinders or promotes the knowledge economy (KE), (b) to determine how the KE affects economic performance, and (c) how economic performance relates to the inequality-adjusted human socioeconomic development (IHDI) of 53 African countries during the 1996-2010 time period. We estimate the linkages with three related equations. The results support a strong correlation between the dynamics of starting and doing business and variations in KE. The results also show that there exists a weak link between KE and economic performance. Nonetheless, KE-influenced performance plays a more important role in socioeconomic development than some of the conventional control variables like foreign direct investment (FDI), foreign aid, and even private investment.
Sex-specific impact of changes in job status on suicidal ideation
(Hogrefe Publishing Corp., 2020) Kim, Dae-Hwan; Andrés, Antonio Rodríguez; Leigh, J. Paul
Background: Around the globe, 800,000 people die from suicide every year. Despite being one of the leading causes of death, suicide remains a low public health priority. Korea has the second highest total suicide rate among Organisation for Economic Co-operation and Development (OECD) countries. Aims: The aim of this study was to explore how changes of job status influence suicidal risk in Korea, which lags behind other OECD countries in job security because temporary and part-time jobs are more prevalent in Korea. Method: We made use of a large longitudinal dataset, the Korea Health Panel (KHP). Results: Our findings revealed that a negative change in employment status increased the risk of suicide, but only for males. Limitations: Some individuals might intentionally change their job status, but the data do not indicate why the job status of an individual changes. Conclusion: These findings provide useful insights regarding the Korean tabor market. In particular, tackling the issue of job stability, providing training polices for the unemployed and under-employed, and considering social insurance schemes may help to reduce suicide risk.
Enterprising women in Southern Africa: When does land ownership matter?
(Springer Nature, 2020) Brixiová, Zuzana; Kangoye, Thierry; Tregenna, Fiona
Limited access to finance remains one of the major barriers for women entrepreneurs in Africa. This paper presents a model of start-ups in which firms' sales and profits depend on their productivity and access to credit. However, due to the lack of collateral assets such as land, female entrepreneurs have more constrained access to credit than do men. Testing the model on data from the World Bank Enterprise Surveys in Eswatini, Lesotho, and Zimbabwe, we find land ownership to be important for female entrepreneurial performance in terms of sales levels. These results suggest that the small Southern African economies would benefit from removing obstacles to female land tenure and enabling financial institutions to lend against movable collateral. Although land ownership is linked with higher sales levels, it is less critical for sales growth and innovation where access to short term loans for working capital seems to be key.
Access fees and efficiency frontiers with selectivity and latent classes: Falkland Islands fisheries
(The University of Chicago, 2019) Mainardi, Stefano
A relevant question in fishery management is to what extent individual transferable quotas and effort quotas (ITQs/ITEQs) can contribute to higher efficiency and net returns as well as foster resource sustainability. To better account for factors that systematically affect efficiency of fishing companies within a complex institutional environment, two stochastic frontier semiparametric models treat unobserved heterogeneity as a finite mixture or discrete approximation to continuous parameter variation by adjusting for sample selection and latent classes, respectively. Assuming profitability-constrained, revenue-maximising strategies and based on a panel of Falkland Islands fisheries over the period 2003-14, both models suggest separate frontiers relative to revenues and limited to selection-corrected model costs. The hypothesis of frontier-enhancing effects of the new ITQ/ITEQ regime is supported for most-albeit not all-fishing companies. Based on model results, revenue efficiency gains are achievable by encouraging, when feasible, vessel ownership and larger arrangements between quota holders and joint-venture companies. Regression results of latent class production frontier models for southern hake catches similarly suggest heterogeneity across finfish vessels and widespread-though not uniform-frontier-enhancing effects of the new fishery regime.
Influence of female managers on gender wage gap and returns to cognitive and non-cognitive skills
(Wiley, 2019) Balcar, Jiří; Hedija, Veronika
There is a modest but growing empirical body of evidence on the influence of managers' gender on the wages of their male and female subordinates. Most of these studies, however, suffer from a very raw approximation of the managers' gender by the share of women in charge, and often lack many important gender-specific personal characteristics, such as non-cognitive skills and life-work preferences, which can lead to biased results. This article copes with the mentioned deficiencies by employing a very rich and representative dataset of 1948 employees from the Czech Republic. It reveals surprising results as it shows that the gender of the manager has an effect on the level of wages, but not on the gender wage gap. It also shows that the gender of the manager and his/her subordinate has only a weak impact on the remuneration of an employee ' s non-cognitive skills and life-work preferences.
Do emigrants' remittances cause Dutch disease? A developing countries case study
(Sage, 2019) Polat, Burçak; Andrés, Antonio Rodríguez
Although the positive socio-economic effects of remittances for recipient countries in the short term are unmistakable, inflows of remittances may at the same time exert adverse effects on the trade competitiveness of an economy, by appreciating the real exchange rate. This phenomenon is characterised as an instance of the Dutch disease' - the negative impact of windfall revenue inflows on the competitiveness of other tradable sectors and hence on overall economic growth. While the real effect of workers' remittances on real exchange rates in a recipient economy is still a controversial issue, several studies have analysed evidence for the existence of the Dutch disease' phenomenon in various sets of countries. The main objective of this study is to examine whether remittance flows have had any adverse effect on the international trade competitiveness of a selected group of developing countries during the period from 1995 to 2014. Using a one-step system Generalised Method of Moments specification within a simultaneous equation approach, it shows that remittance flows depreciate the real exchange rate at their levels and that the lagged value of remittances create the Dutch disease for this country group. In addition, we confirm that while trade openness and world real interest rates contribute to a depreciation in real exchange rates, gross domestic product per capita and net Official Development Aid inflows tend to appreciate real exchange rates. A policy implication is that trade liberalisation policies that lower tariff rates on capital imports and new export-oriented incentive programmes should be accompanied by measures designed to prevent appreciation in the real exchange rate: steps in this direction such as recent macroeconomic and prudential capital flow management initiatives are briefly referenced.
Location factors and spatial dependence in household perceptions and adaptations to climate change: A case in the upper Blue Nile Basin
(Agricultural Economics Association of South Africa, 2018) Mainardi, Stefano
Studies on perceptions of, and adaptation responses to, climate change have not paid sufficient attention to location and neighbourhood effects. Moreover, although one often regards perceptions as preconditions for adaptation, some direct and underlying factors may influence perceptions and adaptations in opposite ways. To assess determinants of perceived directions of climate change and adaptations by farmers, the paper formulates ordered response and multinomial choice models accounting for the location and neighbourhood effects. Relative to a survey of rural households in the Ethiopian Nile basin, perceptions of long-term climate trends are found to substantially vary across regions, altitudes, distances from markets, and neighbourhood characteristics, with climate reference scales being themselves non-uniform across respondents. The inclusion of proxies for local spatial dependence and clustering in multinomial logit regressions on adaptation decisions provides further insights, relative to individual- and farm-specific features. Adaptation measures turn out to be largely independent from degree of awareness of negative trends in climate changes. This highlights the importance of adaptive strategies coordinated at regional and national scale, such as preventive measures of control of pest damage risk due to increasing temperatures, and specific interventions for semi-arid agro-climatic zones.
Soft skills of Czech graduates
(De Gruyter, 2018) Balcar, Jiří; Šimek, Milan; Filipová, Lenka
Finding a job is easier for people who are better equipped with soft skills, as they are more productive. Therefore, this article deals with the evaluation of soft skills of graduates from Czech public universities. The results show that the same soft skills are required from university graduates as from the population as a whole (only problem solving is more pronounced with them), but the required level of these skills is 42% higher in the case of graduates. Unfortunately, employers perceive the level of graduates' soft skills insufficient as their level is by 16.46 to 31.15% lower than required. A more detailed analysis showed that, in terms of the development of soft skills, Czech universities provide a very homogenous service. Graduates of universities have nearly the same level of soft skills, while they can also identify similar strengths and weaknesses. These findings suggest that Czech universities should pay more attention to the systematic development of soft skills.
Analysis of sovereign risk market indicators: the case of the Czech Republic
(Univerzita Karlova. Fakulta sociálních věd, 2013) Komárek, Luboš; Komárková, Zlatuše; Lešanovská, Jitka
In this article we discuss the credit default swap (CDS) as an indicator for measuring sovereign credit risk and the relationship between the sovereign CDS market and government bond market. We analyze the links between the sovereign CDS and sovereign yield spread and try to determine which of these markets is the leading one in the price discovery process in the case of the Czech Republic. We then apply quantile analysis to sovereign CDS spreads to demonstrate the cross-country spillover effects. The results of the first analysis suggest that movements in the Czech sovereign CDS spread preceded movements in the sovereign yield spread during the global crisis. The results of the second analysis indicate that the shock arising from the current debt crisis was transmitted to the Czech sovereign credit premium, although the fundamental or market factors driving its level dominated. The results of the Czech case are compared to selected European countries with different sovereign risks.
Trade openness, labour market rigidity and economic growth: A dynamic panel data analysis
(Sage, 2017) Polat, Burçak; Andrés, Antonio Rodríguez
The rapid liberalisation of trade policies since the 1990s has brought additional attention to the role of trade as an engine of economic growth. Although an abundant literature addresses the relationship between openness and economic growth, the real effect of trade liberalisation is still ambiguous and undetermined. Most previous studies have ignored the selection effects of strict labour regulations on international trade. The main objective of this study is to measure the role of labour regulations in moderating the contribution of trade to economic growth among 30 Organisation for Economic Co-operation and Development countries for the period 2006-2013. In doing so, we employ a one-step Generalised Method of Moments system estimation method. Our results reveal that openness to trade does not have a robust and significant effect on growth. However, the interaction of openness with strict labour regulations enhances the contributions of trade to growth.
The economic impact of east-west migration on the European Union
(Springer, 2017) Kahanec, Martin; Pytliková, Mariola
This study contributes to the literature on destination-country consequences of international migration, with investigations on the effects of immigration from new EU member states and Eastern Partnership countries on the economies of old EU member states during the years 1995-2010. Using a rich international migration dataset and an empirical model accounting for the endogeneity of migration flows, we find positive and significant effects of post-enlargement migration flows from new EU member states on old member states' GDP, GDP per capita, and employment rate, and a negative effect on output per worker. We also find small, but statistically significant negative effects of migration from Eastern Partnership countries on receiving countries' GDP, GDP per capita, employment rate, and capital stock, but a positive significant effect on capital-to-labor ratio. These results mark an economic success of the EU's eastern enlargements and free movement of workers in an enlarged EU.
The influence of attitudes toward immigrants on international migration
(Wiley, 2017) Gorinas, Cédric; Pytliková, Mariola
We investigate whether anti-immigrant attitudes affect migrant inflows in Organisation for Economic Co-operation and Development (OECD) countries. Using longitudinal exhaustive data, we find that natives' hostility, particularly natives' propensity to discriminate on the labor market, reduces immigration. This effect is comparable to more conventional migration factors. We obtain robust results when we, for example, capture hostility with far-right parties' popularity instead and control for tighter immigration policies or multilateral resistance to migration. We find a stronger effect for EU-to-EU migrants, migrants from developed countries and linguistically close countries. Our results raise a challenge for policy makers when the demand for foreign workers and anti-immigrant sentiment are present.
A comprehensive method for house price sustainability assessment in the Czech Republic
(Vysoká škola ekonomická v Praze, 2017) Hejlová, Hana; Hlaváček, Michal; Komárek, Luboš
The article describes approach proposed for the house price equilibrium assessment in the Czech Republic. It first explains why it is necessary to use multiple models simultaneously to correctly assess house price sustainability. It goes on to describe individual models proposed to estimate house price misalignment in the Czech Republic. Results given by these individual models are consonant in identifying periods of over-and undervaluation of house prices but slightly differ in the amplitude of the gaps. A method for aggregating the estimates produced by those approaches is then presented. It works on the premise that more correlated estimates may be evidence of a strong signal, while less correlated estimates may, on the other hand, bring additional information to the house price assessment. By using two sets of weights, it presents an interval of supposed under-or overvaluation of house prices. This method indicates that Czech house prices were roughly at their equilibrium level in mid-2014 following an extended period of slight undervaluation since the mid-2009. It also proves robust to the length of the sample used.
Is it better to invest in hard or soft skills?
(Sage, 2016) Balcar, Jiří
Increasing awareness of the productive potential of soft skills has sparked a discussion of their systematic and purposeful development. However, education systems pay only limited attention to this topic in most countries and remain focused on the development of hard skills. Is this approach rational or inadequate? This article provides new evidence on different aspects of the wage returns to soft skills (as an approximation of their productivity), and thereby contributes significantly to the discussion of the role of educational institutions in their development. It provides evidence that soft skills are as productive as hard skills. Moreover, it suggests that the productivity of hard skills stems from their combination with soft skills. These conclusions do not correspond to the fact that the value of education is intermediated mainly by hard skills, resulting in unequal development of soft and hard skills in schools. While concluding that education systems should pay more attention to soft skills development, the analysis recognises that this attention should be differentiated according to employers' needs, owing to substantial differences in the value of soft skills across economic sectors. It is also noteworthy that while significant gender differences in returns to hard skills were identified, wage returns to soft skills appear gender neutral.
Identification of asset price misalignments on financial markets with extreme value theory
(Taylor & Francis, 2016) Kadlčáková, Narcisa; Komárek, Luboš; Komárková, Zlatuše; Hlaváček, Michal
This article examines the potential for concurrence of crises and asset price misalignments from equilibrium in the foreign exchange, stock, and government bond markets of three Central European countries and the euro area. Concurrence is understood as the joint occurrence of extreme asset changes and is assessed with a measure of asymptotic tail dependence in the distributions studied. The results reveal a significant potential for the co-alignment of crises in the examined markets. Evidence for co-movements in misalignments from equilibrium is found among all examined stock and exchange rate markets; although it is not apparent in some government bond markets.

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