Evaluation of International Financial Integration on Growth in CEE Countries

• Název práce v češtině: Zhodnocení mezinárodní finanční integrace na ekonomický růst v zemích střední a východní Evropy
• Název v anglickém jazyce: Evaluation of International Financial Integration on Growth in CEE Countries
• Klíčová slova: Mezinárodní finanční integrace; růst; mezinárodní finance; hospodářský růst; přímé zahraniční investice; portfoliové investice; rozvojové země
• Klíčová slova anglicky: International financial integration; growth; International finance; Economic growth; Foreign direct investment; Portfolio investment; Developing countries
• Akademický rok vypsání: 2021/2022
• Typ práce: diplomová práce
• Jazyk práce: angličtina
• Ústav: Katedra ruských a východoevropských studií (23-KRVS)
• Vedoucí / školitel: Mgr. Petr Jeřábek
• Řešitel: skrytý - zadáno vedoucím/školitelem
• Datum přihlášení: 06.10.2022
• Datum zadání: 06.10.2022
• Datum a čas obhajoby: 18.09.2023 09:30
• Místo konání obhajoby: Areál Jinonice, C423, 423, Jednací místnost IMS
• Datum odevzdání elektronické podoby: 02.08.2023
• Datum proběhlé obhajoby: 18.09.2023
• Oponenti: Dr. Yating Li

Seznam odborné literatury

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Předběžná náplň práce

Abstrakt
Práce zkoumá dopad mezinárodní finanční integrace na hospodářský růst v zemích střední a východní Evropy pomocí modelu s obousměrnými fixními efekty s makroekonomickými daty pro 16 zemí střední a východní Evropy v letech 2007 až 2021. Práce vyvozuje několik závěrů. Za prvé, poměr čistého přílivu a odlivu přímých zahraničních investic k HDP nemá významný vliv na hospodářský růst. Stejně tak nejsou významné stavové údaje o PZI pro regresi celého vzorku, zatímco regrese vzorku rozděleného na rozvinuté a rozvojové ekonomiky ukazuje pozitivní vliv závazků z PZI na hospodářský růst u rozvinutých ekonomik a negativní vliv závazků z PZI na hospodářský růst u rozvojových ekonomik. Za druhé, jak pro celkový vzorek, tak pro rozvinuté a rozvojové ekonomiky není žádná z proměnných aktiv portfoliových investic statisticky významná, s výjimkou aktiv portfoliových investic v rozvojových ekonomikách. Zatřetí, dluh portfoliových i ostatních investic negativně ovlivňuje hospodářský růst v rozvojových ekonomikách i v celkovém vzorku, zatímco v případě rozvinutých ekonomik není výsledek významný.

Předběžná náplň práce v anglickém jazyce

Abstract
The thesis examines the influence of international financial integration on growth in Central and Eastern European economies using a two-way fixed effects model with macroeconomic data for 16 Central and Eastern European countries from 2007 to 2021. The thesis draws several conclusions. First, the ratio of net FDI inflows and outflows to GDP does not present a significant effect on growth. Although the stock data on FDI is similarly not significant for the overall sample regression, the regression of the sample divided into developed and developing economies shows a positive effect of FDI liabilities on economic growth for developed economies and a negative effect of FDI liabilities on economic growth for developing economies. Second, for both the overall sample, developed economies, and developing economies, none of the portfolio investment asset variables are statistically significant, except for portfolio investment assets in developing economies. Third, both portfolio debt and other investment debt negatively affect economic growth in developing economies and the overall sample, while the result is not significant for developed economies.