Search
Search Results
-
Choice of an Exchange Rate Regime: the Role of Optimum Currency Area Theory
21-40Views:95This lecture deals with the problem of the choice of exchange rate regime for fiat and fully convertible currencies. We begin with a review of different types of exchange rate regimes and discuss the difference between de jure and de facto regimes. We also briefly talk about how classification of exchange rate regimes leads to different interpretations of the relationship between regime and macroeconomic performance. Afterwards we give a short discussion of the vanishing intermediate exchange rate regime hypothesis. In the second part of the lecture we mention five different approaches to the choice of the optimal exchange rate regime and provide a general overview of the literature on optimum currency areas. -
HR Funtion Under Changes at Subsidiaries of Foreign Multinational Firms in Light of an Empirical Study in Hungary
98-116Views:423Following almost two decades of multinational companies (MNCs) operating in the transitional economies of Central and Eastern Europe (CEE) expatriate and local managers continue to ask the following question: “How can we effectively manage the available human resources from our subsidiaries or assignees from the corporate centre?” A model of human resource (HR) practices in the subsidiary units of MNC’s in Hungary was developed from a review of the literature, extensive professional experience in the region and an interview-based survey at 42 subsidiaries of large multinational companies. This model describes the evolution of different HR variables in the light of external (macro) and internal (firm specific) factors.
Journal of Economic Literature (JEL) classification: M16, M51, M52 és M54
-
The Marketing Concept, Market Orientation and Marketing Competencies: How are they Adopted in Small and Medium-sized Firms?
104-117Views:120The aim of this paper is to review the literature dealing with the marketing concept, its implementation, i.e., market orientation, marketing competencies and their effects on performance with special emphasis on small and medium-sized enterprises (SME). A large number of studies have shown that, on the one hand, the lack of a conceptual marketing approach is one of the most serious problems owner-managers face in business operations and, on the other hand, marketing is recognised as one of the most important business activities essential to the survival and growth of the enterprise. According to the literature,
the adoption of the marketing concept/market orientation in SME-s is limited, due to limited resources in finance, time and marketing competencies.JEL classification: L26, M14, M31
-
Examination of the effect of financial transfers within the European Union
83-102Views:253It is a common view that financial transfers within the European Union have a significant effect on economic growth. Model simulations, sponsored by the European Commission, seem to confirm this supposition. The econometric analyses evaluating the actual impact of the funds, however, yields a dismal picture on the additional growth and convergence effects of financial transfers. This study's goal is to find the reason why the outcomes differ so much. First, we present the main types and the underlying logic of the evaluation methods of EU regional policy. This is followed by a review of the lessons learnt from the specific evaluation methodologies including case-studies, general equilibrium models, and regression analyses. Our conclusion is that the main objectives of the European regional policy prevailed only to a limited extent, which is mainly due to crowding out effects, rent-seeking, inefficient allocation and moral hazard.