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Regional factors affecting the rushed and balanced growth of territorial capital
62-80Views:156Adapting the precepts of Kornai’s rushed economic growth theory, this paper compares the harmonic and rushed growth of territorial capital in the Hungarian sub-regions between 2004 and 2010. In the empirical analysis, the article applies the methodology of the concept of territorial capital. The empirical results indicate that the causes of the rushed growth of territorial capital can be found in underdeveloped infrastructural capital and the simultaneous development of socioeconomic inequalities. The effects of the rushed growth of territorial capital could be controlled and eliminated by adequately integrating tools of regional development, economic development and public policy.
Journal of Economic Literature (JEL) kódok: C62, C68, Q01, R58
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Market institutions precede market beliefs: a test with cross-country regressions
3-30Views:243The paper examines the literature on culture, economic growth and institutions to derive hypotheses about the relationships between market beliefs, institutions, and productivity. It then tests these hypotheses with cross-country regressions. First, it points out that each of the four cause-and-effect hypotheses of the possible relationships have an economic literature, in that market beliefs are seen as parts of culture. Second, the paper tests these hypotheses by making use of the fact that they consider different variables as exogenous ones. Measures of market beliefs are the coefficients of the country-dummies in the regressions run with individual data from the World Values Survey. The tests support the two hypotheses which hold that it is institutions, not market beliefs, that are exogenous.
Journal of Economic Literature (JEL) codes: L26, O43, P16
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Chance for a more liveable Hungary
5-18Views:100This 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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Tőkepiacok nyolc új EU-tagországban – látszat- vagy valós fejlettség
183-198Views:101A tanulmány arra keresi a választ, hogy mi az Európai Unióhoz frissen csatlakozott, volt tervgazdaságú nyolc ország tőkepiacának valós szerepe és lehetősége. A szerző bemutatja, hogy – bár a gazdasági növekedés szempontjából kívánatos a vegyes pénzügyi közvetítés, így a bankrendszer mellett a tőkepiac hatékony működése – a pénzügyi globalizáció hatásai miatt a vizsgált országok tőzsdéinek fejlődése nem lehet párhuzamos az általános intézményrendszer mélyülésével. A tanulmány a szabványosított piacok szerepének kiemelése mellett különböző alapvető stratégiákat is elemez.
Journal of Economic Literature (JEL) kód: F36, G14, G15