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• Research of competence expectations in the labour market

  75-107

  Tunde Tothne Teglas

  Erika Hledik

  Views:

  807

  Company surveys and labor market prognoses point out that changes in the labor market significantly reshape the employers’ competence expectations
  towards employees. Experts predict an expansion and significant rearrangement of competence expectations. At the same time, employees may experience very different expectations during the application process. Certain employers have high expectations, while in other companies these new high expectations are not perceived. Based on the results of our qualitive research examining the competence requirements towards fresh graduates, we seek to find out how domestic companies react to change when formulating their requirements towards their employees. In the light of the forecasts, we examine which competences are the ones where employers think of new and expanding content. In our work, competences as dynamic variables are examined in the interaction between the demand side and the supply side, that is, the interaction between the employers’ competence needs necessary for their operation and their experience regarding the preparedness of the fresh graduates.

  Journal of Economic Literature (JEL) codes: J23, J24, J53

• The use of logical programming in decision-making systems

  105-113

  Tibor Tarnóczi

  Views:

  25

  The strong market in teh globalized economy makes fast, quality responses important. In the accelerated world time for reaction has been decreased, so to say there is less time for response, on the other handm the problems have become more complex and the information needed to make the decision has grown. In this environment computational-response programs have gained an important role. This article shows the opportunities of logical programming and its use and advantages in economic modelling and decision-making systems.

• The structure and the behaviour of the capital of cooperative banks

  59-77

  Eszter Lang

  Istvan Tassy

  Views:

  119

  Today cooperatives are unable to function according to traditional cooperative principles, as the changes in the economy have altered the basis for the operation of cooperatives as well. There are a number of regulations affecting the members of cooperatives and investors ranging from the foundation to the ditribution of dividend, from the volatility of capital to investing into a cooperative, which are carried out in comparison with other forms of investment in the market. By now in Europe debates about cooperatives have become more heated; the documents of the European Union especially the ones concerning social economy also testify to this. It is for this reason that the study has chosen the examination of cooperative banks. The authors present the structure of cooperative banks, the changes in the structure, as well as the behaviour and characteristics of cooperative capital.

• From the details to the whole: A spiritual journey with János Kornai

  91-108

  Laszlo Murakozy

  Views:

  95

  A kötelező tisztelet megadása mellett, általában csak a nagy tudósok kiemelkedő eredményeit tartjuk számon, s kevésbé foglalkozunk magával a kutatási folyamattal, azokkal a kutatói és emberi dilemmákkal, amelyek ezekhez elvezettek. Pedig nemcsak a fontos gondolatok elsajátítása, felhasználása segíthet a kutatónak, hanem az alkotási folyamat, a gondolkodás „technológiájának” a megismerése. Annál is inkább, mivel a kutatói végcél sohasem lehet a reprodukálás, hanem mindig a meghaladás, az új keresése. A kortársak, a követők és különösen a leendő tudósok számára kevés kedvezőbb lehetőség nyílik a gondolat „teremtési folyamatának” megértéséhez, megérzéséhez, mint végigkövetni egy másik kutató útját. Akkor is, ha bizton tudja, a titok nem megfejthető, a „technológia” nem átvehető, a nagy tudós egyénisége másolhatatlan. A tanulmány e folyamatra figyelve invitálja, Kornai János életművén keresztül, az olvasót egy szellemi túrára.

• Két éves a Tanszéki esték a Menedzsment és Marketing Tanszéken c. rendezvénysorozat

  157-161

  Andras Kun

  Views:

  48

• The Effect of Globalization on the Transmission of Monetary Policy

  161-178

  Balint Herczeg

  Views:

  129

  Investigating how globalization and the new technological environment which drives and supports the integration process affect the monetary transmission mechanism, I find that the transmission mechanism is affected at every step, in a way which makes this complex linkage between economy and monetary policy even more unpredictable, strengthening the interest rate and wealth affects but weakening the credit channel and the exchange rate channel, if foreign exchange rate loans or carry trades are significant.

  Journal of Economic Literature (JEL) Code: E44, E52, F42

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

  62-77

  Imre Ferto

  Views:

  145

  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

• Analysis of Fiscal Policy in the Countries of the PaCifiCa

  109-126

  Andrea Postenyi

  Views:

  131

  Volatility has been a main factor in Latin America for decades, but these countries have managed to eliminate it more or less successfully by a series of reforms over the last few decades. Regional integrations have emerged in response to the challenges of globalisation. The most recently created integration is the PaCifiCa, and it is worth analyzing the current fiscal situation of its member states, which largely determines the success of future cooperation. Although the four countries observed managed to survive the 2007-2009 crisis with stable fundamentals, the downturn drew attention to the differences between these countries: while Chile and Peru are able to react easily to cyclical swings by applying countercyclical policy, the economies of Colombia and Mexico are much more vulnerable. The assessment of the welfare systems shows that although Chile has an extensive welfare system, the countries in the region still significantly lag behind the traditional concept of welfare state.

  Journal of Economic Literature (JEL) code: H50, H60

• Corporate tax - a new paradigm is needed - I.: Income tax versus value-added tax

  26-47

  Laszlo Torok

  Views:

  448

  Since the existence of the corporate tax institution, it has been a difficult task to determine the exact corporate tax base. As long as states are as large as possible, taxpayers, on the other hand, are interested in the smallest possible tax base. National and supranational rules for determining the tax base are changing with unrealistic frequency. It is almost impossible to enforce them, so conflicts between countries and between companies and tax administrations over corporate tax payable seem to be perpetuating. With the rise of trans- and multinational corporations, aggressive corporate tax planning and covert tax avoidance have also emerged. National governments are trying to prevent this with bilateral and multilateral treaties. Still, the verdicts of the recently revealed multi-billion euro/dollar corporate tax cases prove that they do not have a deterrent effect, meaning that the measures taken so far are far from sufficient to prevent them. In my research hypothesis, I argue that the corporate tax system's current form is unsustainable at both national and global levels due to its intricate design and manipulability and its high macro- and micro-level implicit costs. I will then propose a new value-added tax and tax rate to compensate for the loss of government revenue due to the abolition of corporate tax in an equivalent and essentially clear way. After that, I tested the proposed new type of tax based on the European Union countries' value-added data. Finally, I present the new global tax's territorial principle to replace corporate tax and its contribution to national public burden-bearing.

  Journal of Economic Literature (JEL) codes: C53, E62, H24, K34

• On the Global Expansion of Venture Capital

  60-69

  Judit Edit Futó

  Views:

  138

  The venture capital industry has also been negatively affected worldwide by the financial crisis of 2008, thus the usual investment conditions have changed. One aim of the study is to provide an overview of the changes. As shown in the global trends, the level of the global annual venture capital investments in 2013 just reached the level of before 2008. Although in some Asian countries (China and India) the decline was not significant, unlike in the European countries. Another aim of the study is to examine whether there is a reality of an integrated global venture capital model, or it is different in each country. If there is a difference, then what kind of explanatory factors can be tracked back. On the basis of extensive international literature the article argues that there are a number of factors such as the characteristics of financial systems, the legal and institutional barriers and the culture that affect the emergence of an integrated venture capital model.

  Journal of Economic Literature (JEL) codes: G24

• Voszka Éva: Versenyteremtés – alkuval. Demonopolizáció és állami támogatás az átalakulás idején: Akadémiai Kiadó, Budapest, 2003. 274 oldal

  225-230

  Bela Janky

  Views:

  94

• The joining negotiations in rapport with the EMU

  75-87

  Laszlo Jankovics

  Views:

  130

  The study surveys the field that deals with the Eastward expansion of the European Economic and Monetary Union /EMU/ after the joining negotiations, involving the probable legal, political and economic dilemmas and problems of the introduction of euro in Hungary. The joining contract and the relevant documents unambiguosly outlining the items within the monetary integration for the Hungarian economy can be planned. It also examines the chosen monetary integration for the Hungarian economy can be planned. It also examines the chosen monetary-political systems of the candidate for membership countries from the relevant European regulation point of view, just as the possibility of individual solutions.

• Visszajáró svéd kísértet? Egy félreértés fogságában: a svéd modell álma és a kelet-közép-európai realitás

  153-164

  Attila Bartha

  Views:

  171

  A kilencvenes évek eleji súlyos válságot követően a főáramba tartozó makroközgazdászok szinte egyöntetűen temették az ún. „svéd modellt”, a működő piacgazdaság és a bőkezű jóléti állam egykor sokak által csodált és irigyelt kombinációját. A XXI. század elején azonban Svédország és a többi észak-európai állam ismét kiváló értékelést a kap egyrészt a különböző versenyképességi indikátorok, másrészt a humán fejlettség jelzőszámai szerint is. Márpedig az állami újraelosztás mértéke az északi országokban, köztük is Svédországban a legmagasabb a fejlett államok körében. Ráadásul az aktív munkapiaci politikák révén fennmaradt a kiterjedt állami szerepvállalás a munka világában is. Eszerint Svédország ismét komoly intellektuális kihívást jelent a Washingtoni Konszenzusban megfogalmazódó alapvetéseknek? Vagy a svéd gazdaság működése alapvetően változott meg, és a harmadik utas kísérlet bukása után ma ismét normális piacgazdaság, néhány sajátos, az észak-európai országokra általában jellemző vonással? Az alábbi írásban e két lehetséges értelmezés mögött felsorakoztatható főbb makrogazdasági érveket mutatjuk be.

• Regulatory Coherence and Economic Growth

  33-54

  Pal Czegledi

  Views:

  164

  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

• The Relevance of the Washington Consensus for the Post-communist Countries

  5-25

  Peter Mihalyi

  Views:

  235

  The Washington Consensus (WC) is 20 years old now. With hindsight, its main significance is the unification of the normative economics. Prior to the WC, it was widely accepted that different policies should be pursued in the developed and in the underdeveloped economies. It was a sheer coincidence that the emergence of WC occurred a few months before the collapse of the communist systems of Eastern Europe and the Soviet Union. Many scholars believe that the WC is responsible for the recurring economic crisis of the last two decades. I reject this view. A 200-year track record confirms that depressions and financial crisis have been always the intrinsic components of market economies – for the reasons identified by Marx and Schumpeter long time ago.

  Journal of Economic Literature (JEL) classification: F02, F23, F41, P11, P36

• A felzárkóztatási politika magyar szemszögből: Nagy Sándor Gyula – Heil Péter (Szerk.): A kohéziós politika elmélete és gyakorlata. Európai uniós fejlesztési programok – belülről nézve. Akadémia Kiadó, Budapest, 2013, 265 oldal, 4950 Ft

  163-164

  Eszter Baksa

  Views:

  169

• Possible solutions of the purchasing power parity puzzle, improvements of the theoretical model

  61-78.

  Andrea Szabó

  Views:

  147

  Purchasing power parity (PPP) is one of the most fundamental theories in international economics. However, its empirical validity is still controversial, an issue referred to in the literature as the purchasing power parity puzzle. This paper summarizes the different explanations for the empirical failures of the PPP, and proposes steps for improvements in the theory by focusing on the importance of using appropriate empirical methodology when confirming or rejecting the PPP hypothesis.

  Journal of Economic Literature (JEL) codes: F31, F41

• Tudósítások a kar tudományos életéről

  176-178

  Laszlo Jankovics

  Views:

  46

• From mud-hut to microprocessors: The unified growth theory

  29-50

  Peter Foldvari

  Views:

  125

  The Unified Growth Theory attempts to explain economic growth in the long run within a single framework. Accordingly, it is expected that a successful unified theory is capable of modeling the transition among different economic regimes. In this study, after identifying the main features of the three growth regimes (Mathusian, post-Malthusian and sustained economic growth), we review two typical unified growth theories. While the Hansen-Prescott model seeks to explain how the transition occurred, the Galor-Weil model focuses on the causes and interrelatedness of the observed phenomena.

  JEL classification: N10, O41

• Kari hírek, tudományos rendezvények

  189-194

  Laszlo Jankovics

  Views:

  57

• Eastern-European education and economy

  73-82

  Janos Timar

  Views:

  116

  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

• Válság vagy visszaesés: Muraközy László (Szerk.): Válságban és válság nélkül – A gazdaságpolitika rétegei. Akadémiai Kiadó, 2010, 264 oldal, 3750 Ft

  148-151

  Levente Nadasi

  Views:

  142

• Efficiency and resource allocation: the Hungarian managed health care system

  Gyorgy Jona

  Views:

  117

  The managed health care system (MHCS) was introduced and applied in Hungary between 1999 and 2009. The gradually expanding system covered only 22% of the population and included exclusively the curative-preventive health care, subsidy on medicaments, subsidy on therapeutic appliances and the spa service. Like anywhere else it was cost-effectiveness that was expected from the MHCS without the adverse effect in the quality of the health service. To decide whether the MHCS was successful in Hungary or not, we compare it with the results of those segments of the health system where the MHCS was not introduced. We use the method of the incremental cost analysis. We are making our comparison exclusively on the basis of health economics aspects, because no difference has evolved in the quality of the medical attendances. We will see that where the MHCS was applied, the medical attendance became cheaper, at those places where the MHCS was not applied the medical attendance became more expensive, causing a chronic financial deficit (137785 million HUF). Although the MHCS managed from less money, it gained 17767 million HUF during the mentioned ten years. We are going to present the general features of the MHCS and support the fact that the outcome of the managed care concept was rationalized and the savings in several segments of health care, by means of empirical evidence.

  Journal of Economic Literature (JEL) classification: I150, I180, G220, G320, H520.

• Citizens’ Interest Index: What can act as a benchmark for the results of the New Public Management reforms?

  117-131

  Miklos Rosta

  Views:

  127

  The aim of the study is to suggest an adequate indicator to describe comprehensively the efficiency of New Public Management (NPM) at a macro level by using the economic roots of NPM. The scientific community has not yet found a comprehensive indicator to measure the efficiency of the given school; however NPM is at the stage of its lifecycle when these researches really do need to be conducted. Both the political-theoretical and the economic roots of NPM are closely connected to public choice theory; this theory thus provides the bases of the model for creating the new indicator. In the article we do not only introduce the created composite index at an abstract level, but also present its formulation and methodological background.

  Journal of Economic Literature (JEL) classifications: H83, D70, D23

• A Review of Hungarian Research Antecedents and the Assessment of Fair Trade in Hungary

  54-68

  Eszter Toth

  Views:

  506

  Fair trade is a civil initiative aiming to provide fair conditions to the poor producers of the Third World and enable them to follow a sustainable model of development. This realigned commercial partnership is to modify the rules of traditional international trade between the producers of the southern nations and purchasers of the northern hemisphere and replace them with a novel alternative. Fair trade has unified techniques of labeling and a well-established institutional system in order to change the rules of the game that have controlled the dominant economic model. The main tool of the movement is the engagement of conscious and socially responsible consumers towards the topic. This review summarizes the Hungarian reports and studies done about the issue so far and introduces the present circumstances in Hungary.

  Journal of Economic Literature (JEL) code: F13, F18, J81, P45