Komparace nezávislosti ČNB a centrálních bank vybraných států EU v období 2005-2018

The theoretical part of Bachelor Thesis comprises of the summary of the central bank general theory, central banks in the context of the EU and the area of central banks independence. The last part of the theoretical part consists of the todays’ literature review. The practical part of the Bachelor Thesis analyses the historical development and todays situation in the context of the central bank independence in Czech Republic, Denmark, Germany and Sweden. After this, the comparative analysis of the development (state) of the independence of chosen central banks was made, using GMT and Cukierman index. The aim of the Bachelor Thesis is to test the hypothesis, which says that Czech National Bank development during years 2005-2018 converges with the development of other tested central banks. The research has proven that there was no development during 2005-2018, even after the Financial Crisis, so the hypothesis was proven to be false. The arguments are discussed in the end of the practical part. The main argument might be the condition of the central bank independence of the EU (lower constraint) and on the other hand the high level of independence back in the year 2005 (raise of the independence of each tested central bank can be done only in a few particular cases).