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• The institutional background of factoring

  71-96

  Zoltan Nagy

  Views:

  148

  The article examines the Hungarian financial institution system from the point of view of factoring. In the interest of clarifying concepts, the article compares the judicial and economic use of the concept, introduces the intermediary system, the banking system, and the financial institution system. It outlines the contradictions in institutional regulations relating to factoring and the history of the development of regulation in the financial sector in Hungary from the 1970 to the present. Besides presenting the deficiences in the regulatory system, the article suggests several alternative modifications to the Law, thus highlighting the significance of factoring. In this analysis the author deals with both international and national practices, which can both be used as a basis for future legal regulations, providing answres to the questions raised in the article concerning the institutional structure.

• Integration of the CEE agri-food sector into the EU: What does trade theory and empirical evidence tell us?

  62-77

  Imre Ferto

  Views:

  149

  The article provides an overview on the main results of empirical research into the Integration of the CEE agri-food sector into the EU. Contrary to early expectations, countries in the region have not become major agri-food exporters. We can observe great diversity in trade specialisations, the patterns of intra-industry trade and price and quality competitiveness among countries and major product groups. These outcomes derive mainly from the differences in relative factor endowments and the different initial conditions of the countries concerned. The recent theoretical and empirical developments in international
  trade may help us to better understand the agri-food trade integration of new member states.

  JEL classification: Q12

• On the interconnectedness of the skill-premium concept

  175-188

  Peter Foldvari

  Views:

  101

  The skill-premium concept, and its interconnectedness with technological development and international trade, has become an important area of economic research in recent decades. The aim of the present study is, using the latest academic work in the field, to bring together the most important theoretical developments and to serve as an introduction to the subject.

• Western Balkans: Opportunities for Agriculture on the Eve of EU Accession

  52-73

  Tamas Mizik

  Views:

  156

  The 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

• Exploring the awareness of platform-based, demand-driven businesses in Hungary and Romania

  73-100

  Tünde Zita Kovács

  Beáta Bittner

  László Huzsvai

  András Nábrádi

  Views:

  80

  Platform-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.