Analýza vývoje lotyšského národního hospodářství v období 1993 – 2013 se zvláštním zřetelem na období světové krize po roce 2008

The objective of this diploma thesis is to analyse the development of the Latvian national economy in the period of 1993 - 2013 from the viewpoint of the legal framework, institutional security and development of macroeconomic indicators. Special attention is devoted to identifying the impact of the global crisis on the Latvian national economy. The theoretical part consists of chapters addressing the theory of the national economy, the state budget, the two-tier banking system, definition of analysed macroeconomic indicators, and the explanation of the global crisis in 2008 and the theory of monetary union. In the Latvian case the theories concerning acyclic government expenditure on final consumption were disproved. The practical part is introduced by the general characteristic of Latvia. The content of the following chapters is legal framework, institutional security and development of macroeconomic indicators. The final synthesis elucidates the economic cycle of 2004 - 2013 caused by credit expansion of the banking sector and government failure. The research indicates that the fiscal policy of internal devaluation implemented in 2009 and 2010 positively influenced the development of the Latvian national economy in the following years. Particular weakness is the one-time increase in government debt.