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"Siamese Twins" or mutual loathing: economic dimensions of EU-USA transatlantic relations
83-100Views:213The present study addresses the system of transatlantic relationships which, while not without difficulties and discomforts, are at the same time in a state of continual development and expansion. Starting from the historical and diplomatic antecedents and the main characterisitics of the commercial and investment relationships between the EU and the USA, the authors examine the components and operating mechanisms of bilateral economic, co-operation. In describing economic relationships, the authors attempt to answer the questions of how accurate the expression "Siamese Twins" is when applied to transtatlantic co-operation, how the bilateral relationships influence NATO and EU expansion, and what the future holds for transatlantic co-operation.
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Energy prices and subsidies – Is Europe losing?
20-48Views:236In the early 2020s, several large US public investment subsidy programmes, followed by a surge in energy prices as a consequence of the Russia-Ukraine war, have raised concerns in Europe. This article examines these two recent causes of the weakening of the EU's competitiveness, focusing on the impact of the US Inflation Reduction Act (IRA) on investment diversion. Based on an analysis of the initial consequences of the IRA and some patterns of corporate behaviour, it concludes that, in an environment of political uncertainty, the relocation of firms and investment to the US is not yet a mass phenomenon, but that the new situation may lead Europe to develop new coherent strategies.
Journal of Economic Literature (JEL) codes: F21, F68, L50, L62, O14, O25
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Critisism of insolvency rules
111-138Views:175The co-authors, who are participants in the research program (Ministry of Education FKFP 0025/2001-2004), give a critical analysis of the Hungarian regulation of insolvency law in their recently published study. Their findings, proposals have been formulated after studying respecting rules in the USA and in major Western-European countries (Germany, Austria, Italy, France, England, Switzerland). Not only legal regulations have been processed and critically analysed in their study, but judiciary precedents related to them as well. The aim of the study is to help re-codify the Hungarian insolvency law.
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New tendencies in urban development – The possibilities provided by walkable cities
23-42Views:414Nowadays, the so-called disadvantages of urbanization – the noise, air pollution, overcrowding – receive more and more focus in cities. Vehicles require increasing space to themselves in cities which decrease the quality of living space people need, which is harmful from the point of view of the society and the economy, as well. Sustainable urban mobility can be a solution, which has two elements: the well-known environmentally friendly public transportation and the less known walkability. The latter comes to the front in the course of the preparation of sustainable city development strategies, nevertheless walkability measurements have been taken principally in USA’s and Western-Europe’s big cities. In our paper we search for the answer of the question, how the concept of walkability is interpretable in middle-sized European cities and what kind of city development potentials do all these have. In the course of our research
primary surveys were conducted in Szeged and Valencia to investigate walkability and its improvement opportunities. Our survey verified that the concept of walkability could be a useful city development tool even in middle-sized cities.Journal of Economic Literature (JEL) code: R42
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Improved operation efficiency strengthens organizational quality in higher education
3-18Views:268This paper examines quality assurance as an effective tool for organizational development, reviewing the theories and history of quality management. After describing the theoretical foundations used in the USA, focusing on heavy industries, it discusses European models such as TQM, ISO and EFQM systems in more detail, then moves on to critical approaches, especially with regard to the applicability and effectiveness of quality assurance in education and higher education. The second half of this paper focuses specifically on quality assurance in higher education, in particular European standards, approaching it from the perspective of internationalisation. In this context, this paper addresses the issues of brain drain, digital campus, stakeholder involvement and student-centredness. Finally, the paper concludes that quality assurance in higher education is not only an essential but a necessary process as well, which can also be the most effective tool for organizational development.
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The role of the institutional system in the globalizing finance of culture
131-148Views:166The article focuses on how the connection between the institutional system of a country and the role of the state changes in the financing of the cultural sphere. To examine the changes, the author analysis the financing model of the USA and the Russian Federation, countries which use very different methods and techniques for the financing of the cultural sphere. The author assumes in his hypothesis that in those countries which have an underdeveloped institutional system, the possibility of direct state support and control for the financing of the cultural sphere is much greater. The results of the analyses are tested on the cultural economy of the Netherlands where the cultural financing system exhibits characteristics of both the American and the Russian models at the same time.
Journal of Economic Literature (JEL) classification: P14, P39, Z10, Z11
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Policy (Institutional) Diversity and Economic Development
5-31Views:193Diversity, or variety, is the essence of economic life in the sense of underlying choice; economic calculation gives numerical substance to how people make choices in their daily endeavours, either as consumers or entrepreneurs. How does variety/diversity takes shape in the realm of institutions and policy making? Is the range of choices open-ended? The last couple of decades has revealed an overwhelming offensive of the neo-liberal paradigm in
terms of defining “best practices”. Even language was shaped accordingly with market reforms being seen in a quasi-single theoretical and policy framework. Are we heading towards increasing uniformity with regard to institutional and policy set ups, worldwide? An affirmative answer would underline the successful market based transformation of a series of command economies. Some convergence between institutional patterns in the USA and the
EU economies might be alluded to in the same vein A supportive argument for this line of reasoning could be that what matters for individual achievement, in the end, are equal opportunities. But this argument can be turned around when debating the merits of various institutional set ups in terms of creating fair chances for people. A sceptical answer would highlight the mounting challenges which confront societies, whether rich and poor, and the international community in general –in spite of the high hopes of not long ago. The demise of the “New Economy”, the series of corporate scandals in wealthy economies and the subsequent recourse to new regulatory legislation, recurrent financial and currency crises throughout the world, and the controversies surrounding the activity of IFIs, should compel “ideologues”, of all sorts, to be more humble in their prescriptions. This essay argues that there is substantial scope for institutional and policy diversity to operate as a means to foster economic development; that there might be a paradigmatic cycle in the dynamic of economic policies.