Chapter XII.
I
CERGE-EI DISCUSSION PAPERS
XII. LIST OF CERGE-EI DISCUSSION PAPERS 104. Valachy, J. and Kočenda, E.
Exchange Rate Regimes and Volatility: Comparison of the Snake and Visegrad MARCH 2003
105. Rajdlová, J.
FDI Location Preferences: Empirical Evidence from the Czech Republic MARCH 2003
106. Kováč, E., Vojtek, M., Ortmann, A., and Brázdik, F.
Guessing Games with Homogeneous and Heterogeneous Players? An Experimental Reconsideration MARCH 2003
107. Noguera, J.
Is Barter a Hobson's Choice? A Theory of Barter and Credit Rationing M AY 2 0 0 3
108. Kúnin, M.
A Complete Mathematical Derivation of Price Equilibria under Vertical Differentiation in a Simple Model with Two Firms and Tariffs M AY 2 0 0 3
110. Vavrejnová, M. (in cooperation with Belabed, E. and Wörister, K.)
Pension Reforms – Present Situation and Future Forms of Pension Systems in the Czech Republic. Comparison with Austria NOVEMBER 2003
111. Tošovská, E.
Analysis of Environmental Goods' Export, Import and Tariff Rates in the Czech Republic in the Period 1993-2002 NOVEMBER 2003
112. Rydval, O.
The Impact of Financial Incentives on Task Performance: The Role of Cognitive Abilities & Intrinisic Motivation DECEMBER 2003
113. Kováč, E.
Tying by a Non-Monopolist DECEMBER 2003
114. Tošovská, E. and Oravcová, E.
Vybrané nástroje obchodní politiky a ochrana životního prostředí v České republice [Selected Instruments of Trade Policy and Environmental Protection in the Czech Republic] DECEMBER 2003
109. Münich, D., Švejnar, J., and Terrell, K.
The Returns to Job Mobility During the Transition: Evidence from the Czech Republic J U LY 2 0 0 3
www.cerge-ei.cz
CZECH REPUBLIC 2003/2004
I
89
CZECH REPUBLIC 2003/2004 Entering the EU
Editors:
Libor Dušek and Štěpán Jurajda
Authors:
Zuzana Bakošová, Radim Boháček, Ivo Burger, Libor Dušek, Martin Fukač, Zuzana Fungáčová, Ekaterina Goldfain, Jan Hanousek, Štěpán Jurajda, Michal Kejak, Alexander Klein, Evžen Kočenda, Ondřej Knot, Lubomír Lízal, Daniel Münich, Andreas Ortmann, Michal Ostatnický, Vilém Semerák, Petr Sklenář, Lucie Soukeníková, Katarina Svítková, Ondřej Rydval, Eva Tošovská, Bohdan Vaněk, Marie Vavrejnová, Ondřej Vychodil, Petr Zemčík, Alena Zemplinerová
Editorial assistants: Ctirad Slavík, Tomáš Konečný English editing:
Lawrence Smith
Published by:
Charles University in Prague – CERGE The Economics Institute of the Academy of Sciences of the Czech Republic Politických vězňů 7, 111 21 Prague 1
Prague 2004 ISBN 80-7343-008-8 (Univerzita Karlova v Praze, CERGE) ISBN 80-86288-97-0 (Národohospodářský ústav AV ČR, Praha)
About CERGE-EI CERGE-EI is an economics department jointly established by Charles University in Prague and the Academy of Sciences of the Czech Republic. It provides an American-style Ph.D. program in economics and conducts state-of-the-art research in theoretical and policy-related economics, with a particular emphasis on the transition to free markets and European integration. The Ph.D. degree from CERGE-EI is fully recognized both in the Czech Republic and in the United States. CERGE-EI was founded in 1991 with a mission to educate a new generation of economists from postcommunist countries. Our graduates are already filling posts in the IMF, World Bank, EBRD, OECD, regional central banks and ministries, universities, and private financial institutions. CERGE-EI plays a major role in preventing brain drain by keeping promising students in the region and attracting scholars who have been trained in the West. Over 70% of graduates remain in the region or deal with the region in international organizations, which contrasts sharply with the 5% of Central and Eastern Europeans who return after receiving a Ph.D. in the USA. About one third of the students are from the Czech Republic, the rest comes from essentially all postcommunist countries. All courses are taught in English. CERGE-EI maintains high academic standards by employing professors and researchers trained at top American and European Universities (Chica-
List of Abbreviations go, Pennsylvania, Humboldt, etc.). Current faculty members come from the Czech Republic, Russia, Germany, USA, Venezuela, Croatia and South Korea. They regularly publish in international journals and present at conferences around the world. Academic oversight is provided by an external committee containing such leading personalities as Joseph Stiglitz (2001 Nobel Laureate, Columbia University), Jan Švejnar (University of Michigan), and Richard Quandt (The Mellon Foundation). CERGE-EI also runs the largest economics library in the region. CERGE-EI is institutionalized as a joint workplace of two separate entities: Center for Economic Research and Graduate Education of Charles University in Prague and the Economics Institute of the Academy of Sciences of the Czech Republic. The co-operation agreement between these two entities enables the efficient pooling of human, technical and financial resources of both institutions. Both the Academy and the University play an invaluable role in making CERGE-EI’s unique academic and research program possible. CERGE-EI is financed by the Czech government, grants from international institutions, and private donations. In order to expand its service to the least developed parts of the region, CERGE-EI is strengthening a partnership between the Czech government, international organizations and businesses to support this vital regional program.
Said about CERGE-EI: “I was impressed by the quality of the program at CERGE-EI when I visited there. It is a leader in economic education and research in the region.” Gary Becker, Professor, University of Chicago, and 1992 Nobel Laureate in Economics
“The peace and prosperity of the post-communist world requires investment in economic education and understanding. CERGE-EI is making a critical contribution to filling the void left by decades of hiding the truth.” Václav Havel, ex-President of the Czech Republic
P.O. Box 882, Politických vězňů 7 111 21 Prague 1, Czech Republic tel: (420) 224 005 123 fax: (420) 224 211 374 e-mail:
[email protected] internet: http://www.cerge-ei.cz
AV CR
IPB
Akademie věd České republiky Academy of Sciences of the Czech Republic
Investiční a poštovní banka
CEE Central and East Europe
Komise pro cenné papíry Czech Securities Commission
CEFTA
MF
Central European Free Trade Agreement
Ministry of Finance
CERGE-EI
MPO
Center for Economic Research and Graduate Education – Economics Institute
Ministerstvo průmyslu a obchodu Ministry of Industry and Trade
CESTAT
MPSV
CESTAT Bulletin of Czech Statistical Office
Ministerstvo práce a sociálních věcí Ministry of labor and social affairs
CNB
KCP
Czech National Bank
MZP
CPI
Ministerstvo životního prostředí Ministry of Environment
Consumer Price Index
CSO Czech Statistical Office
ČKA Česká konsolidační agentura Czech Consolidation Agency
ČSOB
NATO North Atlantic Treaty Organization
NUTS Nomenclature des Unités Territoriales Statistiques
OECD
Československá obchodní banka
Organization for Economic Cooperation and Development
EIA
PPP
Environmental Impact Assessment
Purchasing Power Parity
EU
PSE
European Union
Prague Stock Exchange
GDP
VAT
Gross Domestic Product
Value-added tax
IMF
WTO
International Monetary Fund
World Trade Organization
CERGE–EI
CZECH REPUBLIC 2003/2004
ISBN 80-7343-008-8 ISBN 80-86288-97-0
Entering the EU
An Economic Survey Produced by
CZECH
REPUBLIC
2003/2004
CERGE-EI would like to acknowledge Academy of Sciences of the Czech Republic for its generous gift to Czech Republic 2003/2004 publication
Center for Economic Research and Graduate Education of Charles University & Economics Institute of the Academy of Sciences of the Czech Republic