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The Comparative Analysis of the Cultural Financing Models of France and Hungary
50-67Views:145Both France and Hungary use the so called coordinated cultural financing model, in which the active role of the state is decisive. However, instead of producing a similar model, the level of the cultural sector value added to GDP in the two countries is different. The article’s aim is to answer this puzzle. The focus is on the role of institutions and state subsidy. The analysis tries to understand whether direct state subsidy plays a decisive role in the economic performance of the cultural sector. The analysis also shows whether the harmony of formal and informal institutions have a positive effect on the economic growth of the cultural sector. The assumption is that the size of direct government subsidy cannot increase economic growth. If the formal and informal institutions are in harmony, and if there is a long-run cultural policy strategy in a country, the cultural sector value added to GDP is higher.
Journal of Economic Literature (JEL) classifications: Z10, Z11
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The Roots of Euroscepticism in Hungary.: Economic Policy and Perceptions of the European Union in the Crisis
5-22Views:272The paper explores the relationships among three factors: economic policy, its evaluation, and perceptions of the European Union. It considers Hungary’s recent decade, primarily the years of the recent global financial and economic crisis. The analysis compares Hungary’s economic statistics and attitudes with those of other countries on the EU periphery. The main questions are the following: why and how Hungary has become a eurosceptic country? On what does the image of the EU (created in the population) depend? Is there any link between how the economic policy is being pursued on one hand, and the attitudes towards the EU, on the other? Is the evaluation of the national economy confirmed by the hard facts?
Journal of Economic Litterature (JEL) classifications: O520, Z130, P160
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Chance for a more liveable Hungary
5-18Views:95This 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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Változó erőtérben – változó egyensúlyozás : Adalék Magyarország háború utáni gazdaságtörténetéhez
9-22Views:113A cikk azt a kérdést elemzi, hogy Magyarország nemzetközi beágyazottságának megváltozása hogyan alakította a hazai gazdasági rendszert a piacgazdaságtól a piacgazdaságig vezető 45 éves kitérő során.
Ennek keretében kitüntetett módon vizsgáljuk azt, hogy a nemzetközi pénzügyi szervezetekkel kapcsolatos politika miként hathatott a korszakban meghatározó szovjet befolyási övezet keretében -
A behavioral economics approach to perceived inflation
46-71.Views:247Recent 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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Examination of Management of TESCO Hungary's sustainability and community activities
1-25Views:52In their fifth sustainability management case study, the authors examine the focus, organizational processes, and operation of TESCO's responsibility and community activities in Hungary. On the one hand they executed analyses of publicly available company reports and internal documents, while on the other hand, they conducted semi-structured interviews with internal and external experts who play a key role in the added CSR activities. In addition to the descriptive presentation of the activities, the authors' work points out that there are many crutial organizational conditions for the effective management of organizational processes related to sustainability and communities, furthermore they highligted the possibilities and limitations of involving external parties and service providers, as well. The value of the case study is enhanced by the fact that no comprehensive case study presenting the sustainability activities of the leading domestic food retail companies has been published recently.
Journal of Economic Literature (JEL) codes: A13, D6, F6, M14, M19, M38
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Our national economy after the transmission
55-84Views:86This study looks through the key indicators of the Hungarian economic transition from the 90s until now. To make the Hungarian processes more understandable, we show it in international comparison with data from other post-socialist EU members. We then examine how the social processes and the economic changes fir together, emphasizing among other things the changes in health, education and cultural life.
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The examination of the relationship between foreign working capital investment and economic growth on the basis of European examples
150-166Views:98In the past decade several studies have been published in Hungary as well on the role of foreign working capital investment and the economic effects of the presence of multinational companies. This paper explores what role working capital investments (their type, size etc.) have played in the transformation and modernization of Hungary and in her integration into world trade. After a short theoretical and historical survey it presents the experience of some European countries which the literature often mentions by comparing them to Hungary, for on the basis of their size, population, geographical location and level of economic development they have often met similar economic policy dilemmas and choice-making. Then it examines what effects foreign working capital influx had on the given economies and - ina wider sense - on their social development, and in addition, what kinds of undesirable consequences it had.
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The possibilities and impossibilities of Hungarian public debt
26-42Views:338The topic of the present study is the hypothetical, ex ante nature examination of Hungary’s gross consolidated public debt. The study defines the most important concepts and correlations, the judgments on the different degrees of public debt, the development of the Hungarian public debt, its main stages and characteristics. The study then presents a macroeconomic framework, which can predict the future output values of the public debt commensurable to GDP, depending on the parameters of the main explanatory variables. The establishment of input values of the main macroeconomic aggregates, as endogenous variables, is based on the author’s extrapolation and other empirical studies. Applying these, the values of the future public debt rates can be forecasted. The present study intends to show that the explanatory (economic) variables currently have well established values, which, if inserted into the chosen macroeconomic forecasting framework, show that the Hungarian public debt compared to GDP can be reduced to the desired 50 percent level. As the result of ten scenarios a more or less pessimistic, but in the case of one scenario, an optimistic, picture emerged concerning the future state of gross public debt.
Journal of Economic Literature (JEL) classifications: C53, H68
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The dynamic of Hungary's Agro-Food Trade in the Global Economy
26-35Views:96We analyse the evolving pattern of Hungary's agro-food trade using recently developed emprirical procedures based around the classic Balassa index and its symmetric transformation. The extent of trade specialisation exhibits a declining trend; 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 a less persistent pattern. They are stable for product groups with comparative disadvantage, but product groups with weak or strong comparative advantage show significant variation. The results reinforce the finding of a general decrease in specialisation but do not support the idea of self-reinforcing mechanisms, emphasised strongly in much of the endogenous groeth and trade literature.
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Eastern-European education and economy
73-82Views:104The 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 importance of foreign direct investment in Hungarian economy on the Millenary
10-25Views:109In the last two decades foreign direct investments has increased tremendously all over the world. Therefore the study of their economic influences and consequences is in the centre of international and Hungarian research. The paper without aiming at completeness gives a short summary of their influences on the recipient country, which is followed by the analysis of the Hungarian statistical data. These investments are of primary importance in Hungary. They played an important role in putting the country on an export-governed growth path at a time when inner accumulation did not make this possible. Their import demand exceeding export can be considered as an infavourable influence, with which FDI contributed to foreign trade deficit to a great extent. The annual capital influx helos compensate for the deficit of the balance of payment, however a major part of this deficit results from the withdrawal of the earnings realised with the help of FDI, which has been at a growing rate since 1998. The figures of the Hungarian companies (between 1998 and 2001) show that the duality of the Hungarian economy is not spreading.
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Trends and Tendencies in the Development of HR Departments in Hungarian State Universities
115-146Views:264In the last couple years it has been fully accepted that human resource management plays an increasing role in the success of organizations, and also in the development and sustainability of national and international competitiveness (Gordon- Whitchurch, 2007). In the developed industrial countries – mostly the Anglo-Saxon pioneers – public institutions (including higher education) abandoned the normative and bureaucratic-controlled Taylor system (Karoliny et al, 2003). Beginning in the 70’s representatives of the New Public Management model, based exclusively on the effectiveness of business solutions, gained more ground. The early 80’s brought the widespread implementation of reform programs. These efforts have created models and experience that were applicable in the converging countries of Europe – including Hungary. After reviewing the latest professional literature and analyzing practices of eleven Hungarian universities we will assess the conversion of Human Resource Management and consider possibilities for modernization.
Journal of Economic Literature (JEL) classifications: I21; H19; M52;M53;M54
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Hungary's dependence on external financing
145-156Views:73This paper demonstrates that Hungary has been dependent on external financing for several decades. In the 1970s and 1980s, debt was prevelant in the external capital structure of the Hungarian economy, but since the transformation to a market economy internation equity finance has reahced a level of capital accumulation and plays a very complex role in export potential, debt srvicing capacity and the modernization of the country. This paper argues that in general the forced increase in domestic demand is not able to substitute for the inherent need to realize export surplus in a small open economy in the long run. In the subsystem of the real economy there is a self-financing circuit driven by foreign direct investments which can meet the economy's current liabilities and profit remittance requirements, while this circuit cannot compensate for the consequences of the soft budgeting constraints of the general government.
JEL classification: H6, F4
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Political Economy of Fiscal Reform in Central and Eastern Europe
66-75Views:79The reform of public finances has been at the centre of the post-socialist transition of Central and Eastern Europe since the early 1990s. At various stages of the transition, the reform process encompassed the entire gamut of public finances: the national budget, sub-national finances, extrabudgetary operations, and state-owned financial and non-financial enterprises. For the most part, fiscal reform was a non-linear stop-and-go process – often characterised by backtracking as well – and was uneven across countries. Moreover, unlike most reform experience in the rest of the world, fiscal reform in this region took place against the backdrop of a radical break, as sovereign countries emerged from a colonial past following the collapse of the Soviet Union. An important milestone was reached in 2004–2007, when all ten countries covered in this article became members of the European Union. The purpose of this article is to discuss fiscal reform in Central and Eastern Europe from the perspective of political economy. Following an overview of basic reform trends, the article focuses on the principal drivers and impediments to reform in the region. To conclude, the ingredients of successful reform are examined. The article does not provide an exhaustive inventory of reform measures, nor does it offer a survey of broad political economy issues prior to or during the transition period. Country references are intended to serve as stylised illustrations of main points, rather than as a comprehensive documentation of reform episodes.
Journal of Economic Literature (JEL) classifications: H1, H3, P2, P52.
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Economic stimulus effects of the Hungarian Lending for Growth Scheme
51-70Views:206This paper examines the impacts of the Hungarian Lending for Growth Scheme (LFS), focusing primarily on its effects on GDP in the short and medium run. Since such a tool has not been applied before in Hungary, the Hungarian literature on its effects is narrow. Accordingly, the point of reference could only be the international experience, which considers these tools effective. The empirical analysis presented in this paper also underpins this conclusion. That is, according to the results, the LFS may significantly stimulate both aggregate demand and aggregate supply. On the other hand, the LFS implies an asymmetric intertemporal trade-off as a result of which there is a negative effect in the long run. This is, however, considerably smaller than are the positive effects in the short-run.
Journal of Economic Literature (JEL) codes: E51, E52
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Human Resources Management in the Changes in Hungary In the Light of Two Consecutive Cranet Researches: Két egymást követő Cranet felmérés eredményei alapján
92-110Views:365Management, including Human Resources Management, has undergone major changes in Hungary since the economic and political changes of 1989. This area is even regarded as a field of continuous transformation. This study makes an effort to compare differences and similarities of specific features of Human Resources Management in Hungary in the light of two consecutive surveys, Cranet 2005 and 2008 (Cranet is an established group of top business schools and academic institutions, all collaborating to provide unique and rigorous data on human resource management practices across the world). According to these analyses, the study compares typical characteristics and practices of Human Resources Management in Hungary with major trends and tendencies of this field in 32 countries, including 6 countries from the Central and Eastern European region as well.
JEL classification: J24, M1, M54