Vol. 2 No. 2 (2003)

Published November 17, 2003

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Introduction

Papers

  • Neumann's model and the cycles
    14-19
    Views:
    110

    Neuman has created his model to verify the theoretical existence of balance. The assumptions of the model give an explanation to the existence of the cycles. They derive from two peculiarities of the model, which Neumann concludes from the operation of the market. The first peculiarity is that balance comes about in the so-called saddlepoint. It is characterized by maximum production and minimum profit. The second is crossregulation, where excess profit stimulates growth, whereas oversupply decreases prices.

  • The international competitiveness of the domestic economy: interpretations, figures and a few considerations
    20-41
    Views:
    103

    Although 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.

  • Russia in Europe
    42-53
    Views:
    112

    While Russia has always defined herself, since WW II the latest, in relation to America, the focus of the Russian foreign economy and foreign policy has traditionally been and remained Europe. In the new millenium this contradiction is increased by postmodernity and the policy of the balance of powers of the 19th century. The paper - with a historical overview - justifies that the solution is the unusual relationship between foreign policy and internal policy. Whereas in most countries foreign policy is the extension of the internal policy, in Russia it has been and currently is also the other way round. Foreign policy is the extension of the internal policy, in Russia it has been and currently is also the otherway round. Foreign policy is the means of internal, national and state building efforts and is understandable only from this point of view.

  • Regions and the European integration: The Europeanization of the regions in Central and Eastern Europe
    54-68
    Views:
    97

    The process of Europeanization that is the adjustment of the national legal regulations, intstitutions and decision making patterns to the European political practice leads to the significant transformation of the national political systems. In the horizontal dimension of the state institutions this concerns primarily the relationship between the executive and the legislative powres whereas in the vertical dimension this influences the relationship bewteen the central state and the regions or provinces. The paper examines the source and durability of the Europeanization process in three Central and Easterna European countries, in Poland, Hungary and Czech Republic. Focus is primarily laid upon the institutional adjustments.

  • Corporate Governance from a Post-Communist Perspective
    69-82
    Views:
    107

    In the aftermath of Enron and WorldCom scandals of 2001-2002, corporate governance (CG) has been put once again into the center of academic interest. Last time this happened in mid-1997, when a global financial crisis that began in Asia was widely attributed to appalling CG practices in Korea and Japan. Thus, for young readers this whole subject matter may seem to be an old hut. In reality, the term "corporate governance" has merely a 25 year old historiography. Systematic content analysis of the Anglo-Saxon press showed that the term CG arose first in the wake of the Watergate scandal. In the mid- to the late 1970s, public opinion suddenly discovered that major American corporations were involved in corrupt payments both at home and abroad. Prior to Wazergate scandal, competitive markets and good governance of business enterprises had been regarded as two sides of the same coin. It was a tacit understanding that well-run companies are honestly run companies and vice versa. Suddenly this equation was broken. Sence then the fast-growing CG literature has had a moral loading.

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  • Living memories of the past? The new wave of redistribution at the turn of the millenium
    83-104
    Views:
    102

    Redistribution within the economy and the state owned companies subsidized by the government have become a major field of economics policy. The view of the daily press is misleading: it is not a brand new phenomenon. Redistribution was present during the whole transformation of the economy. The article analyses the distinctive features of a new wave started at the turn of the millennium and the central position of private enterprises showing the various methods, the ideologies providing their background and the driving forces. According to the article the factor and basic motivation of redistribution are independent of the political orientation of the ruling governments, it is only their approaches that vary. The support of domestic private enterprises is a failure concerning the direct political aims. Anf from sociological aspects it supports the old attitudes of the planned economy. We could not show clearly favourable economic effects but their chance depends on the method of redistribution. The conclusion of the article: the best support is the decrease of subsidies and the changing of the general economic possibilities into favourable ones for the players in the economy.

PhD student papers