Exporting financing of Czech companies in the current economic situation of 2012
|Author:||Mgr. Hana Pěchová|
|Year:||2013 - summer|
|Leaders:|| † prof. Ing. Michal Mejstřík CSc.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:|
|Abstract:||The master thesis shows how important is the promotion of export for the
economy of the Czech Republic in the present time of economic uncertainty and in front
of such threats it now stands. I show in individual chapters of this study, that it is
necessary to allow for availability of export credits for Czech exporters, because these
may also help to achieve the objectives of the new Czech export strategy. Then I present
methods of state aid, two Czech export agencies. And by using gravity model and
subsequent analysis I show, that it is socially advantageous to support these agencie,
since the positive impact of this support can also be expected as an increase in
employment, GDP growth and increased income to the state budget through taxes.
Furthermore, I introduce the leader to the threat posed to export financing in Europe by
the regulatory requirements of the newly introduced Basel III banking regulation - not
just capital requirements, but also the newly introduced leverage ratio. Econometric
model empirically confirms the hypothesis, that Basel III will have a negative impact on
the availability and price of export credits. On the contrary, according to the conclusions
of this model I cannot assume that this regulation significantly influences the Czech
export credit institutions.