Reálná ekonomika jako zdroj nerovnováhy platební bilance

The dissertation thesis aims to find determinants based on the real economy that cause long-term imbalances in the current account balance. When breaking down the cumulative current account balance into sub-balances, the usefulness of supplementing the often-used analysis of the determinants of savings and investment with another perspective stands out. Therefore, in this thesis, a complementary approach to the analysis of the current account is applied, which analyzes Individual partial balances of the current account and finds suitable variables for them, which affect these balances and cause their imbalance. The thesis concept is derived from the Sixth Edition of the IMF´s Balance of Payments and International Investment Position Manual. The analysis using a panel and cross-sectional regression is performed for the period 1980–2016 and includes all countries of the world. The research shows that the individual balances are significantly influenced by geographical specifics, the factors endowments, and the country's level of development, i.e. the structural characteristics of the economy.