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Dual higher education is a form of education where students' training is provided jointly by a higher education institution and a partner organization. At the partner organization, students gain specific professional knowledge and work experience, which allows them to enter the labour market as more experienced and skilled professionals after graduation. The aim of our research is to assess the opinions of partner organizations involved in dual education on this type of training. The organizations involved in dual education operate in a wide variety of sectors. The examined database contains data on companies and institutions registered in Hungary that are involved in dual education, with the selection being made in such a way that the sample covers the widest possible range of dual education programs. Our aim is to examine the results of the introduction so far and to identify the factors necessary for further development opportunities. The questionnaire was completed electronically or by phone by the partner organizations, with the help of an interviewer, on a voluntary basis. The questions included formulated statements, which belong to the closed-ended question type group, within which several subtypes can also be found in the questionnaire. We formulated one-answer questions in the questionnaire and used Likert scale questions. When processing the questionnaires, we not only examined the answers to the individual questions separately, but also examined the relationships between the different variables. During the analysis, we used the ANOVA test, the Kruskal-Wallis test, the Wilcoxon test and the Dunn test to uncover the relationships.
Views:320Dual higher education is a form of education where students' training is provided jointly by a higher education institution and a partner organization. At the partner organization, students gain specific professional knowledge and work experience, which allows them to enter the labour market as more experienced and skilled professionals after graduation. The aim of our research is to assess the opinions of partner organizations involved in dual education on this type of training. The organizations involved in dual education operate in a wide variety of sectors. The examined database contains data on companies and institutions registered in Hungary that are involved in dual education, with the selection being made in such a way that the sample covers the widest possible range of dual education programs. Our aim is to examine the results of the introduction so far and to identify the factors necessary for further development opportunities. The questionnaire was completed electronically or by phone by the partner organizations, with the help of an interviewer, on a voluntary basis. The questions included formulated statements, which belong to the closed-ended question type group, within which several subtypes can also be found in the questionnaire. We formulated one-answer questions in the questionnaire and used Likert scale questions. When processing the questionnaires, we not only examined the answers to the individual questions separately, but also examined the relationships between the different variables. During the analysis, we used the ANOVA test, the Kruskal-Wallis test, the Wilcoxon test and the Dunn test to uncover the relationships.
JEL codes: I21, I23, I25, J24, J62
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Trade Advantage and Competitiveness of Hungarian Agri-food Exports with the European Union
87-102Views:182The complementarities of trade advantage and trade competitiveness measures for Hungarian agro-food trade with the European Union are analyzed. The stability and duration of the trade measures over time is investigated by survival analysis using the nonparametric Kaplan-Meier product limit estimator and the consistency test between the trade measures is conducted by the stratified Cox proportional hazard model. Hungary experienced a greater number of products with relative trade disadvantages and a greater significance of one-way imports. Hungary also experienced relative trade advantages for bulk raw commodities, processed intermediates, and horticulture, with the greatest significance of successful quality competition and one-way exports, and the lowest significance of unsuccessful price
and unsuccessful quality competition. The duration of relative trade advantages is longer than the duration for the successful trade competition categories. Our results confirm that relative trade advantage is consistent with the one-way export and the successful price and successful quality competition categories in two-way trade on the one hand, and relative trade disadvantage with the one-way import and the unsuccessful price and unsuccessful quality competition on the other.Journal of Economic Literature (JEL) classification: Q12
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The shift from Office to Customer Oriented Culture: the Case of the Hungarian Post: Liberalizáció és szervezeti változások a postai szektorban
143-158Views:336The case study is conducted within the framework of organizational change and organization innovation, and examines the changes in knowledge requirements and the alterations caused by the liberalization generated by the Magyar Posta Zrt. The study focuses on the transformation of official attitudes, the make up of the required knowledge and how organizational changes have facilitated the development of a customer-oriented organizational structure. Based on the interviews conducted, the conclusion is that the process of “providing service ex-officio” has not yet been completed, but the employees are increasingly becoming involved in a client-centred approach. On the management level the preservation of the hierarchy and the status quo have more importance than the expression of the new organizational values.
Journal of Economic Literature (JEL) classifications: D23, M14
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Network Analysis for Market Surveillance
19-33Views:231Our analysis has focused on the network structure of the credit default swap (CDS) market because relatively few publications have appeared on this segment of the financial market. The article puts emphasis on a proposed new supervisory tool which uses network science in market surveillance of the Hungarian financial market. Our research results are compared to those of a previously published ESMA analysis, where the writers applied network science to analyze financial market contagion risks. As a result, the article concludes that the Hungarian sovereign CDS market network structure is similar to the European one in the sense that it is highly concentrated.
Journal of Economic Literature (JEL) codes: G14, C45
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Impact of the sustainability report on Hungarian stock prices
94-107Views:184ESG reporting has become increasingly significant for evaluating corporate sustainability. Our study examined firms that had been publicly listed for several years by 2023, and which had already engaged in ESG reporting voluntarily, showing an early, consistent commitment to sustainability despite the absence of regulatory requirements. We hypothesised that this group’s market valuation metrics would reflect a more favourable and realistic investor assessment compared to a control group. However, our findings revealed that while statistically significant differences appeared primarily in the Price-to-Book Value (P/BV) ratios, overall, the investor assessments did not yet demonstrate a statistically significant divergence on average. This may suggest that ESG reports serve more as marketing tools than as indicators of genuine sustainable resource management, which some investors recognise from other mandatory financial disclosures. These insights can support further research on the Hungarian investment climate and aid in refining EU sustainability directives within Hungary’s regulatory framework.
JEL classification code: Q56, G11
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The structure and the behaviour of the capital of cooperative banks
59-77Views:192Today cooperatives are unable to function according to traditional cooperative principles, as the changes in the economy have altered the basis for the operation of cooperatives as well. There are a number of regulations affecting the members of cooperatives and investors ranging from the foundation to the ditribution of dividend, from the volatility of capital to investing into a cooperative, which are carried out in comparison with other forms of investment in the market. By now in Europe debates about cooperatives have become more heated; the documents of the European Union especially the ones concerning social economy also testify to this. It is for this reason that the study has chosen the examination of cooperative banks. The authors present the structure of cooperative banks, the changes in the structure, as well as the behaviour and characteristics of cooperative capital.
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HR Funtion Under Changes at Subsidiaries of Foreign Multinational Firms in Light of an Empirical Study in Hungary
98-116Views:649Following almost two decades of multinational companies (MNCs) operating in the transitional economies of Central and Eastern Europe (CEE) expatriate and local managers continue to ask the following question: “How can we effectively manage the available human resources from our subsidiaries or assignees from the corporate centre?” A model of human resource (HR) practices in the subsidiary units of MNC’s in Hungary was developed from a review of the literature, extensive professional experience in the region and an interview-based survey at 42 subsidiaries of large multinational companies. This model describes the evolution of different HR variables in the light of external (macro) and internal (firm specific) factors.
Journal of Economic Literature (JEL) classification: M16, M51, M52 és M54
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Chance for a more liveable Hungary
5-18Views:174This study examines the question of how successful the transition of Hungary in social fields has been over the last two decades. It comes to the conclusion that, besides the successes in the economy and the deficits in the social spheres, the reserves of the first one and a half decades are approaching exhaustion. The accession to the EU creates a chance, but not a guarantee, for the next period to be a success. The challenges for the country are very different in 2007 from what they were in 1995. For this reason we try to show directions for sustainable growth and more fruitful social politics.
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Protecting the Architectural Heritage and Economic Strategy
18-28Views:219This essay advances five theses explaining the desolate state of the architectural heritage in Hungary. It also addresses the issue of why two decades of transition was not sufficient to remedy the shortcomings of four decades of socialism. In the second part of the study we attempt to draft a strategy that could help overcome these difficulties. It aims at a combination of business, municipal and civil society activities guided by a nationally coordinated plan. Following these guidelines the architectural heritage in Hungary could be transformed into an asset instead of a liability, as has been the case in many other European countries.
JEL classification: I38, O21, P20, R11
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Financial hegemony in Hungary?
105-132Views:196The theory of financial hegemony argues that the centralization of the financial sector allows for coordinated decision making over the disposition of investment capital. Because of the importance of outside funding in fueling economic expansion and weathering ongoing economic crises, such centralized decision-making over capital flows confers upon the financial leadership the capacity to coordinate activity ampng a wide range of economic actors. In theis paper I test the statements of the above theory in the network of the interlocking Board of Directors memberships within the best 100 companis and 36 banks in Hungary.
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Exploring the awareness of platform-based, demand-driven businesses in Hungary and Romania
73-100Views:214Platform-based, demand-driven business models, known as the sharing economy, emerged in the United States in 2008. Their emergence has been made possible by digital development, and their impact can be seen in both economic and social life, in the globalised nature of cooperation models. Since 2016, the European Commission has conducted three surveys on using the sharing economy in the EU Member States. Based on the 2018 survey, this study analyses Hungary's and Romania's relationship with the sharing economy. The survey results show that awareness of the SE is increasing, especially on the consumer side. However, a decreasing trend is observed on the service side. Demographic factors (age, gender, employment status) significantly influence the willingness to provide and use services. Respondents in the two countries are not homogeneous and have different perceptions of the opportunities and threats of the sharing economy.
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The Success and Motivation of Academic Entrepreneurs in Hungary
75-87Views:637This paper presents the results of an empirical study of 80 academic entrepreneurs in Hungary. It aims at analysing the relationship between the motivations for starting a firm and entrepreneurial success. The motivations studied are the prospects of higher income, the need for achievement, the need for independence and the benefits related to research. Success is examined from both objective and subjective perspectives. The indicators of objective success are the firm’s revenue, the change in the revenue, the number of employees and firm age. Subjective success refers to the academic entrepreneur’s self-evaluation. According to the findings, the strongest motivation for starting a spin-off firm is financial necessity, i.e. a dissatisfaction with the university salary. Except for financial need, all the motivations included in the study have a significant relationship with subjective success, but a weaker or no relationship with objective success. Research-related benefits, such as moving the research towards development, is a key entrepreneurial motive in the academic sector, as it is positively associated with subjective success, the revenue of the spin-off venture and its growth.
Journal of Economic Literature (JEL) Classifications: L26, I23, O32
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Eastern-European education and economy
73-82Views:185The main reason for the inability of the Eastern-European region to catch up economically is thought by many to be the fact that for a decisive period the state curtailed the incentive power of private property. The harmful effect of this was aggravated by the arms race. Contrary to this, this paper claims that the main reason is the underdevelopmnet of the population's knowledge base. The direct factor in this is the mistaken education policy, which because of the emphasis on quaility in schooling, imparted a low and weak knowledge base to the growing generation. The author claims that without a general and radical reform of education the eastern European region and Hungary as well, will lag behind in international competition.
Journal of Economic Literature (JEL): I21, I28, O15
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The international competitiveness of the domestic economy: interpretations, figures and a few considerations
20-41Views:181Although the (improvement of) international competitiveness of the Hungarian economy is in the foreground of both the proclaimed efforts of the economic policy and that of the discussions of the trade, the fact that competitiveness at national level is a less precise term of economics with various meanings. This paper first discusses whether competitiveness at national economy level is interpretable at all. Then it examines what this notion does not mean and what it might mean. After reviewing the possible interpretations, the paper describes some of the figure of competitiveness of the domestic economy relating to a few international comparisons. Finally, it draws up some considerations as to what might and what might not be (or only with limitations) the means for the economic policiy to improve domestic competitiveness in the short and long terms.
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A kulturális és kreatív iparágak a világ legfrekventáltabb régióiban
Views:306This study touches on and organises the definition of the creative industry, creativity and the differences in terminologies used within the creative economy. These help to form and idea of which areas different countries or regions consider dominant from the developmet point of view. Beyond this, the study describes the attempts to map out the conceptual system of the creative economy and its statistical measurement. It therefore examines the statistical, economical and social characteristics of the creative industries, in accordance with the Europe 2020 Strategy and other professional documents. It aims to provide a comparative analysis of different regions' creative industries. Lastly, regarding to Hungary, it defines future tasks.
Journal of Economic Literature (JEL) classification: Z1
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Prognosis of the Roma population in Hungary by region till 2061
39-74Views:1300In our paper we try to give an overall picture about the countrywide and regional demographic characteristics of the Hungarian Roma population, to make a roll-forward calculation of the next decades until 2061 by region. It indicates the actuality of the study that in the last decades the population of the Hungarian Roma minority and its rate according to the whole Hungarian population permanently and materially increased. In the next decades in both further growth is expected, but the speed of this growth will be slower and slower. The fertility and the mortality of the Roma population will decrease, life expectancy will increase, these result in the increase of the rate of the aged population. Out estimation indicates that until 2061 the age pyramid of the gypsies’ changes, it will be more and more similar to the present one of the whole Hungarian population.
Journal of Economic Literature (JEL) codes: C82, J11, J13, J19
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Was there a stock market bubble in Hungary?
Views:360Bubble is one of the most frequently used and colorful terms in economics. However, it is rarely explained in detail, most economists more or less agree on what it means. In the following paper we are going to show that the widely accepted explanation of bubble contains controversial, tautological reasoning. It is challenged from the theoretical side, but practical consequences will also be mentioned. Two questions hiding in the title above will be answered. First is to give a conceptual framework for analyzing stock prices to decide whether we can label as a bubble particular movements, upward and downward tendencies in stock prices. Second, with a coherent and consistent definition we will be able to answer the question whether there was a bubble in the Hungarian stock market between 1995-2002.
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Nyugdíjreform-dilemmák – jövedelemelosztási arányok és makropénzügyi egyensúly
5-32Views:203The paper aims to outline the main relations and critical points of the pension system which make the reform of the whole system inevitable in near future. The most important cause stems from demographic change: in the developed countries average life expectancy is rising rapidly while the number of births is diminishing. This results in rising retirement outgoings and decreasing revenues from superannuation taxes. In addition to this medical expenses are increasing due to the development of treatment methods. In contrast, in Hungary the average life expectancy will only increase after 20-30 years. The main problems of the distributive systems are rooted in the particular characteristics of the political change following the collapse of communism. The level of employment decreased dramatically and there are many tax arbitrage opportunities. In addition nowadays 90% of employers tend to retire on a pension before retirement age. These factors make the main distributive system unsustainable. Additionally the elderly dependence rate will double in the next few decades. Parties debating a socially and financially sustainable main distributive system agree on the inevitability of an increasing role for self-provision and a cut in the growth in expenditure. The pension system will not be able to keep pace with growing wages, to guarantee insurance principals and a minimal income in old-age, and to meet the requirements of long-term financing at the same time, especially not in the period of demographic changes.
Journal of Economic Literature (JEL): I38, J11, J26
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The joining negotiations in rapport with the EMU
75-87Views:174The study surveys the field that deals with the Eastward expansion of the European Economic and Monetary Union /EMU/ after the joining negotiations, involving the probable legal, political and economic dilemmas and problems of the introduction of euro in Hungary. The joining contract and the relevant documents unambiguosly outlining the items within the monetary integration for the Hungarian economy can be planned. It also examines the chosen monetary integration for the Hungarian economy can be planned. It also examines the chosen monetary-political systems of the candidate for membership countries from the relevant European regulation point of view, just as the possibility of individual solutions.
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The question of duality in post-transition economic development
71-90Views:305One of the main questions of the FDI-based economic development model is how the local embeddedness of technologically advanced, globally operating multinational firms can be increased. The global economic integration of smaller, locally owned firms could be enhanced by the stimulating spillover effects stemming from multinationals. However, if the two main sectors of the economy function in isolation from each-other, stimulation effects cannot appear. This paper studies the features and extent of structural duality in Hungary, and the preconditions for deepening economic ties between the two sectors and
of the utilization of positive externalities stemming from the presence of large multinational firms.JEL classification: F23, L53
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A behavioral economics approach to perceived inflation
46-71.Views:330Recent years have brought an era of extremely low inflation both in Hungary and in the EU. However, the inflation perceived by consumers has not followed precisely the same path. In the article I attempt to shed light on the underlying causes of this discrepancy, using the concepts of behavioral economics. A summary of the results of the relevant literature and an empirical analysis of Hungarian perceived inflation patterns (both on the aggregate level and for demographic groups) form the backbone of the article. The main findings of the research show that there is a significant bias in the inflation perceptions of Hungarian individuals, caused by psychological phenomena. The extent of the bias varies among sociodemographic groups, but not in exactly the same way as one would expect from the literature.
Journal of Economic Literature (JEL) codes: E03
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The aspects of the Hungary's Adult Training
36-55Views:288The study surveys the most important aspects of the national adult training from educational economy point of view. The authors examine the national limits of legal rule of adult training. They present the different sub-systems of adult training i.e. the educational system, the non-educational system and the working place training characteristics of participation making international comparison too. We look over the target groups of adult-training and the participants motivation of the teaching arena. We also have a look at the domestic costs of the different froms of adult-training, and the division of this expenditure among the participants.
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Revealed comparative advantage in Hungarian agriculture: a chaotic or coherent pattern?
59-82Views:210We describe the evolving pattern of Hungarian agri-food trade using recently developed empirical procedures based around the classic Balassa Index at various aggregation level and different bechmark between 1992 and 2002. Our results shows a significant geographical differences and across sub-sectors of 1, 2, and 3 digit SITC classification. The extent of trade specialisation exhibits a declining trend for all benchmarks; Hungary has lost comparative advantage for a number of product groups over time. The indices of specialisation have also tended to converge. For particular product groups, the indices display greater variation. They are stable for product groups with comparative disadvantage, but product groups with weak to strong comparative advantage show significant variation.
Journal of Economic Literature (JEL) classification: Q12
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The emergence of digital transformation in the automotive industry - Industry 4.0 in Hungary
3-28Views:785It is no exaggeration to say that the digital transformation can be seen as both a paradigm shifts and a real technological revolution (Perez, 2010, Mergel, et al., 2019). In order to get to know the preparedness of the Hungarian automotive industry players in the topic, we conducted an empirical research in October - December 2020. The main goal was to determine the level of automotive actors in the digital transformation process. Company leaders were primarily asked about their progress in the digital transition process, its opportunities and challenges, organizational culture, and potential human resource management responses. This study focuses on the digital transition concentrating on the following dimensions: strategy and leadership, human resources, business processes, supply chain, manufacturing, products and services. Based on the results, we classified the examined Hungarian automotive industry actors into clusters.
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Human Capital and EU-Enlargement
83-92Views:179The enlargement of the European Union is an almost everywhere accepted necessity, but at the same time of course also a compromise. Economies or regions of different economic, social, institutional, etc. development become united in Europe with a territory from the Atlantic to the Eastern borders of Poland, Slovakia and Hungary, from the Baltic Sea to the Mediterranean Sea. This integration process going along with the worldwide globalisation will imply a new distribution, or a redistribution of the factors of production. First of all the human capital will be touched by this development.2 One of the most important results found by social sciences in the 20th century is the realisation of the immense role played by human factors in the process of economic development. The extremely high efficiency of human capital and the high mobility could diminish the regional differences in the economic development and therefore in the social life. But even this is one reason for the mentioned re-allocation of the human capital. In the frame of a very simple static model (See e. g. Bishi – Kopel [2002]) the flow of human capital between different regions – called the European Union and the New Member States – will be analysed. The introduction of search costs extends the field of policy-analysis.