Search
Search Results
-
Knowledge Export in Higher Education: A Hierarchic Approach
35-48Views:241The role of higher education in economic growth is increasing parallel with the development of the knowledge industry. The export income from student mobility estimated by some experts exceeds 40 billion US dollars worldwide. In this paper we discuss two aspects of the phenomenon. First, higher education as an industry is more complex than simply student mobility. This is true despite the fact that this mobility is the most visible and most attractive part of the export activity. There are research outputs of universities and other service activities which are classified as exports and which are offered in market based systems. Second, the individual professors - whether employees of universities or freelance knowledge workers - university departments, faculties, universities, countries, regions, etc. could serve as the subjects of the statistical measurement of activities. All of those activities which are carried out by universities can be measured in different hierarchical systems.
Journal of Economic Literature (JEL) classification: F14, M31
-
Analysis of the Competitiveness in the Agri-food sector: The case of Latin America and the Caribbean Region
92-117Views:478Latin America and the Caribbean (LAC) countries are among the global leaders in the production and exports of agricultural and fisheries commodities, accounting for 15% of the world’s average agri-food export from 1995 to 2019. With rising global market competitiveness, considering the agri-food sector, it is important to assess if the region can compete against other global rivals, and in what products. Accounting for regional potential economic power, remarkable agricultural food export and market expansion, this paper explored the LAC agricultural trade patterns and export competitiveness through the analysis of the Revealed Comparative Advantage (RCA) index, and its modifications - SRCA (Symmetric Revealed Comparative Advantage), RTA (Relative Trade Advantage, and RC (Revealed Competitiveness) - in the agricultural sector for the period of 1995-2019. This paper contributes to the literature by presenting the export characteristics in Latin American developing countries, which can be an important instrument for decision-makers in the agricultural trade policy. Throughout the research period, the results indicated that Brazil, Argentina, and Mexico were the TOP agri-food exporters in LAC. The highest RCA, SRCA, and RTA were found in Guatemala, whereas the greatest RC was found in Argentina. At the product level analysis, oil seeds and oleaginous fruits, miscellaneous grains, seeds and fruit, industrial or medicinal plants, and straw and fodder (HS12) were the most exported items at the 2-digit level. Fruit and nuts, edible; peel of citrus fruit or melons (HS08) had the most competitiveness in the worldwide market, with the highest SRCA and RC indices, whereas coffee, tea, mate, and spices (HS9) had the highest BRCA and RTA values. The evidence suggests that among the TOP 10 exporters in LAC, all indices in the global agri-food trade are said to be relatively stable, whereas survival rates do not persist over time.
-
Trade Advantage and Competitiveness of Hungarian Agri-food Exports with the European Union
87-102Views:209The 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
-
The importance of foreign direct investment in Hungarian economy on the Millenary
10-25Views:193In 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.
-
Corrupt German companies? A political economy approach to German corporate scandals of recent years
97-114Views:190The paper seeks to explain German corporate scandals of recent years from a political economy point of view, adopting a 'varieties of capitalism' approach. Scandals have taken place in two realms of corporate activities: (i) in industrial relations defined by the system of Mitbestimmung that my well constrain corporate restructuring, and (ii) in export markets where corrupting foreign officials has always been a widespread practice among large exporting companies, including export-intensive German manufacturing corporations. In recent years institutional changes in domestic and international markets, including regulatory regimes, have significantly altered the set of viable options for corporate strategies. In consequence, large German companies have to adjust to new circumstances. Although the institutional underpinnings of coordinated market economies have been changing, German corporatism is not set to vanish yet.
Journal of Economic Literature (JEL) classification: P16, F55
-
Hungary's dependence on external financing
145-156Views:172This 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
-
Outward direct investment versus technology licensing: an SME perspective
55-70Views:282Based on the example of the evolution and internationalization of a Hungarian wastewater treatment company, this paper investigates various theoretical and strategic management issues. As for the
theoretical part, Hungary’s outward direct investment performance is analyzed departing from the thesis that Hungary’s present seemingly favorable OFDI performance is just a statistical artifact. It is
only organic development, based on local entrepreneurs’ capital export that can substantiate Hungary’s present OFDI position. The strategic management issues analyzed in the paper include the sequencing of internationalization; the pitfalls related to growth; modes of foreign market entry; and the choice between FDI-based internal exploitation of technological knowledge and external technology exploitation in the form of technology licensing.JEL codes: F23, L24, L26, O16, O33, Q57
-
The future of Russian outward foreign direct investment and the eclectic paradigm: What changes after the crisis of 2008–2009?
31-54Views:452This article explores the future of Russian outward foreign direct investment in the aftermath of the crisis of 2008–2009. As it is too early to analyse the full impact of the crisis, it develops hypotheses about the degree of slowdown in the foreign expansion of Russian transnational corporations. It uses an extension of the eclectic paradigm to home country advantages (competitive environment, business environment, development strategy, State involvement) applied to a comparison of the Russian Federation with other economies in transition as an analytical tool. Systematic differences between transnationals from the Russian Federation (global firms, based on natural resources, aiming for vertical integration of assets) and from new European Union member countries (regional firms, based on downstream activities or services, aiming for horizontal integration) allow us to formulate more solid conclusions about the future of the Russian firms facing lower export prices, lower market capitalizations and higher debts. In turn, this article argue that a comparison with the large emerging economies of Brazil, China and India, under the acronym of BRIC can be less useful in the current context, as these economies are significantly less affected by the crisis of 2008–2009 than the Russian Federation; hence they can not expect a slowdown in their outward foreign direct investment similar to that of Russian transnationals.
JEL: F23; F21; O52; P29
-
Western Balkans: Opportunities for Agriculture on the Eve of EU Accession
52-73Views:236The Western Balkan countries can be characterised by their shared goal, which is to achieve the quickest accession to the European Union. Agriculture is an important obstacle to achieving this goal. The role of agriculture differs widely among the countries analysed but is more important than the average of the EU. This study gives a comprehensive overview of the most important agricultural indicators. These indicators allow us to acquire a precise picture of the sector’s relevance, production structure, efficiency and international relations. After demonstrating changes in input use, production structure, prices, terms of trade and agricultural policies, the next section identifies some of the reasons for these changes. The analysis concentrates on the most recent years for which data is available. In the last few years Serbia became the leading producer and the only net exporter of agricultural goods in the region. Nevertheless, the current situation is endangered by several issues, such as imbalanced sectoral production, fragmented production structure, relatively low yields, unfavourable export composition, and poor food hygiene and quality control, which anticipate painful and difficult measure which need to be carried out.
JEL classification: Q15, Q17, Q18
-
Technológia és szervezeti innovációk kölcsönhatása: az e-munkavégzés elterjedésének példája Új munkavégzési formák, mint az új fejlődési pályák hordozói?
47-68Views:263A kilencvenes évtized ún. transzformációs gazdaságaival foglalkozó társadalomtudományi vitájával összehasonlítva meglepő, hogy a XXI század elején viszonylag szerény az érdeklődés a poszt - szocialista
gazdaságok új fejlődési útjainak vizsgálata iránt. Elemzésünk célja a közép-európai régióban fejlődő piacgazdaságok új fejlődési útjainak azonosítása. Pontosabban: szeretnénk felhívni a figyelmet a globalizálódás, az információs és kommunikációs technológiák gyors elterjedésének és a különböző típusú piacok deregulációjának kontextusában megjelenő tudásgazdaságba való bekapcsolódás lehetőségeire, illetve azok kihasználását elősegítő és korlátozó néhány tényező szerepére. A tanulmány három részből áll. Az első, bevezető fejezetben az ún. transzformációs gazdaságok fejlődésében jól kimutatható különböző fejlődési ciklusok jellemzésére vállalkozunk, jelezve az ún. bejárt úttól való függés és az ún. intézményi vákuum megközelítések szerepét az átalakulási folyamat megértésében. Ezt követően, az elemzés röviden jellemzi a közvetlen külföldi tőkebefektetések (FDI) vezérelte gazdasági modernizáció fontosabb eredményeit (pl. foglalkoztatás, termelékenység növekedés, export, keresetek és az innováció) és olyan problémáit, mint a gazdaságfejlődés aszimmetrikus jellege. Az új fejlődési pálya tartalmát, „tanuló gazdaságba” való bekapcsolódással valamint a kiegyensúlyozottabb gazdasági szerkezet létrehozásával azonosítják a szerzők Az utóbbival összefüggésben, a tanulmány a mikro-, kis- és középvállalati (KKV) szektor szerepének felértékelődését hangsúlyozza. A tanulmány második és harmadik része, a nemzetközi kutatási tapasztalatokra építve jelzi a közép-európai gazdaságok, ezen belül a magyar gazdaság részvételének lehetőségeit a gyorsan fejlődő tudásgazdaság globális értékláncában. Az elemzés felhívja a figyelmet arra, hogy a régió poszt - szocialista gazdaságai viszonylag vonzó célterületei az olyan nagyobb hozzáadott értékeket képviselő tevékenységek kihelyezése
számára, mint az általános üzleti funkciók. Mindazonáltal, e kedvező pozíciók több szempontból is törékenyek. Egyfelől a globális értékláncra jellemző változások gyorsak, és a tanuló-innovatív szervezetek kritikus tömegének folyamatos létrehozására van szükség. Másfelől, a kritikus tömeg megteremtése szinte lehetetlen az KKV - szektorba tartozó vállalkozások egyéni és kollektív (hálózati) tanulási és innovatív képességének fejlesztése nélkül. Az elemzés – szintén nemzetközi kutatási tapasztalatok felhasználásával – jelzi az olyan új munkavégzési formák, mint például a távmunka elterjedését befolyásoló szervezeti és kulturális tényezőket. Ezzel összefüggésben a szerzők az információs és kommunikációs technológiák hatékony használatát befolyásoló szervezeti innovációk, valamint az ezekhez kötődő egyéni és főleg szervezeti (kollektív) tanulási folyamatok jelentőségét hangsúlyozzák. Végül, az elemzés összegzéseként, a szerzők röviden felvázolják azokat a kihívásokat, amelyekre mind a kutatóknak, mind a gyakorlati szakembereknek, mint társadalmi szereplőknek válaszolniuk kell a magyar gazdaság új fejlődési pályára állításának érdekében.Journal of Economic Literature (JEL) kód: O33; L23;F23.
-
The equilibrium problems of the Hungarian economy and the theoretic possibility of a solution
85-102Views:215Followinf article analyses the question, how the twin deficit - the joint deficit of the budget and the current account - changed in Hungary between 2000 and 2006. The first part deals with the basic identities of the national accounts. The second, analytical part, looks through the latest data about the import surplus, the balance of owners' income and the inland consumption surplus, then it deals with the current account deficit and the ways of financing it, the current expenses, the net accumulation and the borrowing of the government budget. The third part performs the economic analysis and draws the main conclusions. According to this, the drastic decrease in proportion of the gross accumulation, the virtually zero net accumulation of the government sector, the deficit of the current account and the debt generating way to finance it are way more serious problems than the cudget deficit, which does not mean, that such deficit is sustainable. Even this situation does not justify the radical demolition of the welfare state, the theoretic solution can only be the increase of export capacity and the employment.
-
The probable impact of policies and policy measures on globalisation
49-72Views:477This paper aims to identify the impact of the recent economic and non-economic shocks on the globalisation of trade in terms of trade policy and structural openness, and to take a side in the discussion about the reversal, the slowdown, and the continuation of trade globalisation. The report argues that geopolitical decisions based on pure political priorities and different macro- and micro-policies may
harm trade globalisation temporarily. Nevertheless, in the long run, underlying
economic factors, such as decreasing trade costs and expanding services trade remain the critical driving forces of globalisation. The speed of the process is likely
to be slower than before, and its characteristics are different. With weakening multilateralism and increasing fragmentation, the emerging global world order will be suboptimal from the point of view of economic efficiency.Journal of Economic Literature (JEL) codes: F01, F02, F13, F60.