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Orientation of research

The orientation of research at the Research Centre for the Competitiveness of the Czech Economy at the Faculty of Economics and Administration at Masaryk University

The Research Centre for the Competitiveness of the Czech Economy at the Faculty of Economics and Administration at Masaryk University is engaged in research into the component growth performance and stability, focusing on two principal areas. In the area of macroeconomics the section is concerned with identifying factors in economic growth, on both the supply and demand side. The growth in output is broken down into the contributions made by individual production factors. The effect of technological progress is analysed in terms of an international comparison. In respect of demand, the research focuses on macroeconomic figures influencing private consumption, disposable income, the level of household savings, consumer prices, etc. The analysis monitors the structure and dynamics of these figures in terms of an international comparison.

The focus of this component lies in a study of monetary policy and its effect on a small, open, inflation-directed economy. It analyses the optimal behaviour of the central bank represented by variant monetary rules, including their selection and robustness testing. The research also considers the effect of external shocks on the growth and stability of the economy, identification of possible sources of macroeconomic instability and the possibilities open to the central bank in stabilising output and inflation, and, last but not least, the effect of the adopted monetary policy and inflationary targeting on economic growth. The research activities also consider the importance and interpretation of monetary economics and monetary policy within the expanded EU and the planned acceptance of the Euro (ERM2). In this respect the important thing is the appropriate interconnection of the macroeconomic goals of monetary and fiscal policy.

The orientation of the research into institutional standards is based on the approved project and takes in both the standard of administration from various levels of the more general terms “governance” and “corporate governance”, and the standard of the corporate environment in comparison with the EU-25 countries with a view to the situation in the Czech Republic. In the area of governance this principally concerns the areas of democracy and political stability, focusing on individual aspects of the typology of political systems and the possibilities and ways of achieving consensus, the influence of interest groups and lobbies, and the conditions for the functioning of civic society. The area of governance also includes questions relating to the development and functioning of governmental organisations, including the issues of bureaucracy and institutional changes. In the area of corporate governance this involves assessment of the performance of the government with a view to the creation of a transparent and functional corporate environment and its influence on the general level of regulation within society, with a particular view to economic regulation (price regulation, regulation on the labour market and regulation of financial institutions). An integral part of this is also analysis of the specific ownership structures resulting from the transformation process and their effect on the functioning of companies in both the national and international environment. A poor standard of public administration creates opportunities for corrupt practices, and this is also analysed here. Another integral part is analysis and assessment of the quality of the legal system, including protection of ownership rights and the creation of a legislative framework for business. In this area assessment of the standard of administration is closely linked to the standard of the company environment, the analysis of which focuses not merely on the external barriers placed on business and discovery, but also on the internal aspects of the relationship between the performance and the institutional standards of companies. The topics summarised here form the backbone to the research into institutional standards and are merely the set topics for the formulation of the research goals.

Research into the component innovation performance is divided into three main areas (subcomponents). The first of these subcomponents focuses on the corporate sphere, with the business understood as the basic unit of interest. Emphasis is placed on a comprehensive view of the business and the innovation processes underway within it. In relation to the business in respect of the external environment, the research is oriented towards analysis of the relevant trends of the emerging post-industrial society, reflected in the given area first and foremost in increasing quality, technical intensity and the ecological nature of products, their individualisation to meet the wishes of customers, the expanding share of services and, most importantly, the emergence and rapid expansion of information technology and the development of services of an entirely new nature. The second subcomponent focuses attention on regional economic issues, concentrating on three mutually related topic areas. The first topic area concerns the regional standard of the corporate environment and the innovation potential of businesses. The second topic area focuses on structural aspects and the functional manifestation of the local division of labour and the innovation potential of regions. The third topic area is devoted to direct and indirect support for increasing competitiveness, with an emphasis on stimulating innovation performance. The third subcomponent is concerned with legislative, initiation and regulation activities relating to public support for the development of innovation in the Czech Republic, including consideration of regional aspects and assessment of the role of not-for-profit organisations with a principal focus on chambers of business.

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