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• Sustainability of growth in countries with diverse backgrounds in the light of main international indices

  145-168

  Tamas Borko

  Views:

  120

  The paper tries to answer why fossil fuel abundant countries with diverse backgrounds perform differently depending on the dominance of the advantages or disadvantages accruing from natural resource wealth. With the contribution of the most popular competitiveness and institutional indices the determining factors are indentified. The distinctive factors are market efficiency, the quality of the business environment, innovative capability, the quality and efficiency of governmental, market and judicial institutions, the low level of corruption and the existence of political and civil freedom.

  Journal of Economic Literature (JEL) codes: O13, O17, Q32

• Political leadership and economic growth: Do the leaders matter? A vezető személye számít?

  101-116

  Dora Zolcsak

  Views:

  171

  The paper analyses the role political leadership plays in economic growth by reviewing the literature that argues for, or presents evidence on, the proposition that leadership and the leader him/herself are crucial factors in economic growth. The article considers institutional economics as a starting point, a field which, so far, has paid little attention to the role of individuals and only focuses on the significance of institutions. The institutional theory of economic development has been criticized for using endogenous indicators and for only emphasising political output. However, political leaders are also able to make good and efficient economic policies. That is the reason leaders do matter

  Journal of Economic Literature (JEL) Classification: B3, O4, P48

• Technológia és szervezeti innovációk kölcsönhatása: az e-munkavégzés elterjedésének példája Új munkavégzési formák, mint az új fejlődési pályák hordozói?

  47-68

  Csaba Makó

  Miklos Illessy

  Views:

  141

  A 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.

• Konvergencia vagy divergencia: Tomka Béla: Gazdasági növekedés, fogyasztás és életminőség Magyarország nemzetközi összehasonlytásban az első világháborútól napjainkig (Akadémiai Kiadó 2011, 306 oldal, 4500 FT)

  Bence Egri

  Views:

  110

• A német transzferrendszer mint a gazdasági visszaesés okozója

  Agnes Orosz

  Views:

  184

  According to the theory of optimal currency areas the most important advantage of monetary integration is its positive effect on economic growth. However, examining Germany we can notice that since German reunification economic growth and the convergence between East and West Germany has slowed down. These facts show that the operation of the German currency union is not optimal and its performance has not improved over the last twenty years. The criteria of the optimal currency area theory is endogenous due to the recent development of the theory. This means that a country is more likely to satisfy the criteria for entry into a curreny union ex post than ex ante. In the case of Germany, examining the trends of economic growth we can conclude the the German currency union has not become optimal in the last two decades. These facts raise the puzzling question of what are the specific circumstances hindering the improvement if Germany's monetary union despite the endogeneity of the optimal currency area criteria. To answer this question the study examines the interactions between monetary and political integration with special attention to the issues of fiscal policy. According to the study the German transfer system and the dependency on transfers explain the discrepancy between theory and empirics.

  Journal of Economic Literature (JEL) classification: E42, E62, E63, F01, F31, F36

• Eastern-European education and economy

  73-82

  Janos Timar

  Views:

  117

  The main reason for the inability of the Eastern-European region to catch up economically is thought by many to be the fact that for a decisive period the state curtailed the incentive power of private property. The harmful effect of this was aggravated by the arms race. Contrary to this, this paper claims that the main reason is the underdevelopmnet of the population's knowledge base. The direct factor in this is the mistaken education policy, which because of the emphasis on quaility in schooling, imparted a low and weak knowledge base to the growing generation. The author claims that without a general and radical reform of education the eastern European region and Hungary as well, will lag behind in international competition.

  Journal of Economic Literature (JEL): I21, I28, O15

• Regulatory Coherence and Economic Growth

  33-54

  Pal Czegledi

  Views:

  165

  The paper is aimed at examining differences in market regulation across countries. Its starting point is the puzzle that poor countries apply more regulatory measures than rich ones do, although it has been empirically shown that those countries that regulate less grow faster. To explain this contradiction, the paper introduces the concept of regulatory coherence, and tries to explain the differences in this concept, together with the differences in the general level of regulation. The main argument is that regulatory coherence as well as the general level of regulation is dependent on the external, broad institutional system, because this affects the incentives of the regulators. The paper tries to support this theiretical argument empirically by a cluster analysis.

  Journal of Economic Literature (JEL) classification: B53, M13, L51

• A reklámberuházások versenyre gyakorolt hatásának és gazdasági növekedéssel való összefüggéseinek vizsgálata

  Karmen Kovacs

  Views:

  128

  The amount of advertising investments is increasing dynamically worldwide, but returns are decreasing significantly. This is largely the consequence of growing market competition. In connection with this I analyze the role of advertising and the effect of advertising on demand and competition, then I study the relation between advertising and economic growth in this paper. I have conducted a survey among European countries to scrutinize the relation between advertising expenditures. My other assumption had to be rejected as a positive relation does not exist between GDP per capita and advertising investment rate.

  Journal of Economic Literature (JEL) classification: D21, E01, M21, M37

• The role of culture in economic growth: an assessment, criticism and paths for future research

  22-44

  Judit Kapás

  Views:

  235

  There is an abundance of empirical literature on the impact of culture on economic development. This literature has been developing at the margin of growth theory and institutional economics. This paper reviews this branch of the literature by structuring it into three main lines, and placing an emphasis on (self)-criticism directed towards it, as well. The author provides some proposals for further steps towards improving the culturegrowth empirical literature, following the two routes identified by the (self)-criticism.

  Journal of Economic Literature (JEL) codes: O43, Z19

• Business Intelligence from a Strategic Perspective

  49-70

  Gyorgy Bogel

  Attila Papp

  Views:

  469

  Business Intelligence is one of the fastest growing sectors of corporate informatics today. The study describes the history of the related approaches, models and applications, starting from the beginning of the last century. The most important growth engines are highlighted and the strategic role of business intelligence is explained in detail. Both the supply and the demand side of the BI market are analysed and key developments and trends are explained. Special attention is paid to explaining and modelling the intensive acquisition activity of the recent past, and to the potential consequences of the growing need for integration. New market and technology trends changing the application landscape are analysed at the end.

  Journal of Economic Literature (JEL) classification: M10, M15, M40

• The examination of the relationship between foreign working capital investment and economic growth on the basis of European examples

  150-166

  Eva Nagy

  Views:

  122

  In the past decade several studies have been published in Hungary as well on the role of foreign working capital investment and the economic effects of the presence of multinational companies. This paper explores what role working capital investments (their type, size etc.) have played in the transformation and modernization of Hungary and in her integration into world trade. After a short theoretical and historical survey it presents the experience of some European countries which the literature often mentions by comparing them to Hungary, for on the basis of their size, population, geographical location and level of economic development they have often met similar economic policy dilemmas and choice-making. Then it examines what effects foreign working capital influx had on the given economies and - ina wider sense - on their social development, and in addition, what kinds of undesirable consequences it had.

• The Complexity of Technological Progress: Empirical evidence in the European Union

  23-34

  Julianna Csugany

  Views:

  161

  The author examines the role of institutions in technological change on the basis of an understanding of the macroeconomic context of technological progress. The empirical study aims to demonstrate the macroeconomic relationship between economic growth, technological progress and institutions, using data from the member states of the European Union. This paper constructs a statistical model which accommodates the complexity of technological progress and contributes to the analysis of its different aspects. It concludes that the elements of the technological environment and an emphasis on the protection of property rights play an essential role in understanding the effects of technological progress on economic growth.

  Journal of Economic Literature (JEL) classifications: O11, O34, O43

• Economy of Austria

  125-148

  Kitti Vass

  Views:

  159

  In my article I examine a member state of the European Union, the open and federal Austria, which can be considered as an example of a corporate economy. During the reconstruction period following the Second World War the Austrian economy was characterized by a frantic economic expansion. After the oil crisis, an incomparably low inflation rate and low unemployment, and the more dynamic than average economic growth attracted attention to the country. Due to the intensified external economic interest, the Austrian model - namely the economic policy and establishment - was widely studied at this time. However, at the beginning of the 1980's some structural problems appearing in the economy contributed to slowdown in growth, until the political changes of the year 2000, which finally brought a new favourable turn in economic policy. I start with an examination of Austria's economic status after the Second World War, then the development, changes and role of the Austrian social partnership. I go on to analyze today's Austria from the point of view of the sustainable balanced budget, focusing on the financial circumstances of the state, such as the complex financial connections derived from federalism.

  Journal of Economic Literature (JEL): H62, H63

• Innovációk a DE KTK konferenciáján: Beszámoló a Technológiai fejlődés, innováció és gazdasági növekedés konferenciáról (Debrecen, 2008. november 28.)

  143-149

  Istvan Kovacs

  Views:

  93

• Human capital and institutions in the early models of endogenous theory of growth

  135-149

  Pal Czegledi

  Views:

  228

  The endogenous theory of growth, or, as it is often called, the new theory of growth has become a fully-developed theory within about twenty years. The original goal of the theory was to offer better explanations for facts than traditional theories. However, this was only partly achieved. If this is so, then what are the proceeds of the whole theory? The study aims at proving that though the endogenous theory does not offer a much better explanation for facts, it has deepened our understanding of economic growth and incorporated factors in the formal theory, which so far have only been dealt with by "softer" branches of the theory of growth.

• Role of the organizational factors in the success of Hungarian SMEs

  108-125

  Aniko Almasi

  Views:

  748

  This paper analyses the success of the Hungarian SME sector from the aspect of competitiveness, innovation, organizational background and the role of the leader/owner. The author summarizes the organizational innovation specialties of the SMEs based on four empirical researches and own case-study. The conclusion is the organizational innovation characteristically fades into the background of SME operation, development purposes and strategy. The role of the firm owner-leader is essential in these topics. Meanwhile the inflexibility of the organization, loyalty of the employees, labor market disadvantages, the knowledge level and competency of the human resources, its effect on the efficiency are often limit the expansion. These factors have significant influence on the success and competitiveness of the company. Therefore, the paper analyses the organizational innovation and background according to the company success, and the leader-based decision-making procedures, and processes, and evaluates the results of secondary research based on these. The novelty of the empirical research method is the search for GAPs between the leader and the organization and their correlation with success and attitude towards innovation.

  Journal of Economic Literature (JEL) codes: M14

• The suspicion of Dutch Disease in Russia

  103-124

  Tamas Borko

  Views:

  192

  The main statement of the paper is the suspicion that Russia carries the symptoms of Dutch disease. The main justifications behind it are the appreciation of real exchange rates, the deterioration of the performance of the manufacturing sector and the improvement of service sector results. However it is difficult to prove the determining factors behind these processes, so the conclusion that Russia has this ailment has to be treated with caution. As the Dutch disease is only one of the determining factors of the resource curse hypothesis, in the case of Russia other relevant aspects may also play a significant role, such as, inter alia, continuous and considerable corruption, the weaknesse of democratic political system, a protectionist economic policy and a low level of competition, especially in the energy sectors. All of the reasons behind the paradox of the plenty type resource curse phenomenon, and among them the Dutch disease, can jeopardise long-run growth sustainability.

  Journal of Economic Literature (JEL) classification: F31, L60, L72, Q32, Q33