Development of macroeconomic indicators and electoral preferences in connection with the existence of political cycles in the Czech Republic in 1998–2020

This thesis analyses and compares economic policy behaviour of Czech governments in election periods from 1998 to 2020. The aim of the thesis is to determine impact of political cycles on monitored indicators and on preferences of Czech voters in connection with the concept of political right-wing and left-wing. The theoretical part characterizes and summarizes terms related to political business cycle theory such as GDP and other macroeconomic aggregates, fiscal policy indicators and political party preferences. Further attention is paid to economic theories such as political and business cycle theory, median voter theorem and public choice theory. The literature research summarizes the work of Czech and foreign authors dealing with political cycles in European and developing countries. In the practical part, individual election periods are analysed in terms of the political business cycle theory and the concept of political right-wing and left-wing, which proved the validity of the theory in some of these periods. Also, quantitative research has been conducted here, which has shown greater susceptibility to be influenced by behaviour of governments among left-wing voters and it also confirmed that Czech voters are influenced by this behaviour despite the fact that they are aware of the basic principles of the political business cycle theory