What were the purposes for establishment of central banks? Central banks are historically relatively young organizations. Their main purposes are to regulate money supply through interest rates, regulate the banking sector and act as a lender of last resort to banking sector during the time of...

The economic theory of the last decades deals with how certain models of institutions and incentives could improve the coordination of individual actions in society. Setting rules regulating relationships between economic agents is considered as the key requirement of such coordination....

Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the economic problem of corruption. Since private ownership discourages entrepreneurs from rent-seeking, and privately owned media provide objective and unbiased information to citizens,...

Economic theories of the last decades provide analytical framework within which we can explain institutional conditions for corrupt action. Specialists making economic policy recommendations to resolve this problem use several approaches, the most dominant of which are rent seeking and agency...

The paper explains theoretical framework of how corruption hurts economic growth and reveals its application difficulties. Comparing views on corruption in terms of the problem of agency and the problem of rent-seeking we argue that corruption in general is the problem of legal setting and its...

Can corruption improve economic efficiency? Scholars making economic policy recommendations to resolve corruption problem use several approaches, the most dominant of which are the principal-agent and rent-seeking theories. In this paper, we argue that the principal-agent theory has problems...

Czech Abstract: V textu jsou vysvětleny teoretické přístupy k řešení problému korupce a jejich aplikační problémy. Nejdříve je vysvětlena teorie agentury a teorie dobývání renty. Dále je pozornost věnována implikacím obou teoretických rámců. Třetí kapitola odhaluje...

Czech Abstract: Cílem kvalifikační práce je vysvětlení řešení problému korupce z pohledu dvou ekonomických teorií a nalezení řešení problému korupce, které by bylo platné pro obě vysvětlené ekonomické teorie. V metodologické části je argumentováno ve prospěch...

What were the purposes for establishment of central banks? Central banks are historically relatively young organizations. Their main purposes are to regulate money supply through interest rates, regulate the banking sector and act as a lender of last resort to banking sector during the time of...

We present a model of parallel redistribution system to explain the problem of corruption. Within this model we synthesize both agency theory and rent-seeking. More precisely, we argue that the principal-agent theory has problems accounting for the environment in which the agents offering and...