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• Examining the relationship between gambling and crime in Hungary

  48-61

  Judit Tessenyi

  Gergely Farkas

  Views:

  488

  We examined the connection between gambling and crime with the participation of 175 prisoners from four Hungarian prisons. We used the South Oaks Gambling Screen test to measure gambling behaviour before a prison sentence. We compared our results to our previous research findings of 2009 and 2014. From our 10-year-long perspective, the number of problematic gamblers has reduced in the Hungarian penal system in the past years, but the dilemma is still essential. Feminization, the appearance of gambling-addict women in a significant number, is also a trend we would like to pay attention to. We found 28 per cent of problematic gamblers in the prison population, but only less than half of them said that the reason for their conviction is in connection with gambling. Furthermore, gambling addiction is associated with other addictions in many cases.

  Journal of Economic Literature (JEL) codes: I12, K14

• The Risks of Global Financial Markets and the Importance of Credibility: Implications for Hungarian Fiscal Policy

  27-44

  Dora Gyorffy

  Views:

  105

  The central issue in the controversy about the adoption of the euro in Hungary is the difficulties associated with the fulfillment of the fiscal criterion and the possible growth sacrifice it requires. In this paper the author examines the question whether the strategy of delaying entry into the euro-zone implies that fiscal consolidation can be delayed as well. In approaching the problem the paper considers the origins and history of the present-day global financial markets and argues that given the high degree of systemic risks individual countries face responsible macroeconomic policies are crucial in minimizing vulnerability to
  crises. Consequently in order to avoid excessive interest rates and speculative inflows (or currency crisis in the worst case scenario) fiscal deficits in Hungary would have to be cut and credibility of fiscal policy reestablished even without EMU accession. The overall conclusion from this overview is that delaying entry in order to delay fiscal adjustment is likely to increase the trade off between real and nominal convergence instead of mitigating it.

  JEL classification: F33, F41, H62

• Fájdalmas szakítás – az Egyesült Királyság és az Európai Unió közötti kilépési tárgyalások és lehetséges következményeik: Losoncz Miklós: Az Egyesült Királyság kilépése az EU-ból és az európai integráció. Budapesti Gazdasági Egyetem, Budapest, 2017, 276 oldal.

  69-78

  Tibor Tokes

  Laszlo Erdey

  Views:

  261

  Az Egyesült Királyságban 2017. június 23-án megtörtént az, amire az Európai Unió hatvan éves történetében tagállamok szintjén még nem volt példa. Egy ország
  állampolgárai népszavazáson úgy döntöttek, el kívánják hagyni az integrációt. Természetesen az EU-ból való kilépésre az első precedenst 1985. február 1-én
  a Dániához tartozó Grönland kilépése szolgáltatta, ám az Egyesült Királyság lesz az első tagállam, amely elhagyja az integrációt.

• It is too conservative to be liberal, and too liberal to be conservative. What is it? Kenneth Dyson: Conservative Liberalism, Ordo-liberalism, and the State: Disciplining Democracy and the Market. Oxford University Press: Oxford, UK, xxxix+542. o.

  135-140

  Pál Czeglédi

  Views:

  169

• Challenges ahead for the European Union

  7-12

  Alexandre Lamfalussy

  Views:

  124

  It is a mild understatement that nowadays the EU is navigating in rough waters. Close to half of the member countries of the Euro area are in breach of their fiscal stability commitment – and some of them very substantially. Quite a few heads of government publicly criticise the ECB’s monetary policy. Germany and France are determined to water down the Bolkenstein directive on the implementation of a genuine single market for services (which amount to about two-thirds of the EU’s GDP), to which, incidentally, no major objections had been raised by the governments of the member states during the drafting stage. There is no agreement on the longer term EU budget. Only Ireland, the UK and Sweden accept the free movement of the residents of the ten countries which became members of the EU in May last year.

• Market efficiency in relation to the financial crisis of 2008

  31-50

  Balázs Bakosi

  Ákos Szűcs

  Views:

  379

  After the financial crisis of 2008 many scholars criticised the validity of the market efficiency hypothesis of the modern financial literature. The purpose of this paper is to investigate the adequacy of market efficiency based on Hungarian, and as a reference, on American securities. Besides classical statistical tools (autocorrelation function, Ljung-Box test, Augmented Dickey-Fuller test), we also used new approaches of the literature (Variance Ratio test). In addition to the simple hypothesis tests we tried to separate the different type of time series and explain the reasons for the different behaviours.

  Journal of Economic Literature (JEL) codes: G140

• Az oktatás költségei és finanszírozása

  11-50

  Istvan Polonyi

  Janos Tímar

  Views:

  248

  A tanulmány az oktatás-gazdaságtan néhány alapfogalom – az oktatás gazdaságosságának, eredményességének és hatékonyságának – definiálása után áttekinti a legfontosabb aktorok motivációit az oktatás
  finanszírozását illetően, azaz, hogy miért fizeti az oktatást az egyén, a munkaadó, az állam, és a fenntartók. Ezt követően bemutatja az oktatási kiadások forrásszerkezetét és néhány jellemzőjét nemzetközi
  összehasonlításban. Az írás fő része az oktatás finanszírozás módszereinek áttekintése után a hazai oktatási rendszer legfontosabb alrendszereinek, a közoktatásnak, a felsőoktatásnak és a felnőttképzésnek a finanszírozási jellemzőit mutatja be.

• Szellemi muníció internetkalózoknak: Michele Boldrin - David K. Levine: Against Intellectual Monopoly. Cambridge University Press, Cambridge, UK, 323 oldal

  Pal Czegledi

  Views:

  137

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

  225-230

  Bela Janky

  Views:

  95

• The joining negotiations in rapport with the EMU

  75-87

  Laszlo Jankovics

  Views:

  133

  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:

  174

  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:

  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

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

  5-25

  Peter Mihalyi

  Views:

  239

  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:

  171

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

  61-78.

  Andrea Szabó

  Views:

  150

  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:

  127

  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:

  58

• 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

• 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:

  145

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

  Gyorgy Jona

  Views:

  118

  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:

  129

  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:

  521

  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

• Russia in Europe

  42-53

  Laszlo Csaba

  Views:

  127

  While Russia has always defined herself, since WW II the latest, in relation to America, the focus of the Russian foreign economy and foreign policy has traditionally been and remained Europe. In the new millenium this contradiction is increased by postmodernity and the policy of the balance of powers of the 19th century. The paper - with a historical overview - justifies that the solution is the unusual relationship between foreign policy and internal policy. Whereas in most countries foreign policy is the extension of the internal policy, in Russia it has been and currently is also the other way round. Foreign policy is the extension of the internal policy, in Russia it has been and currently is also the otherway round. Foreign policy is the means of internal, national and state building efforts and is understandable only from this point of view.

• The power of path dependence? State capacity and autonomy in East Central Europe during transition

  Zoltan Adam

  Views:

  151

  The paper examines development of state capacities and autonomy in East Central Europe during transition, and attempts to establish a relation between state characteristics and trajectories of economic transformation, especially with regard to privatisation and FDI. The assertion is that the quality of state capacities and the degree of state autonomy, although changing over time, mutually reinforces the formulating of economic policies, and hence in structural transformation. Thus, state characteristics are important determinants of transition outcome, but are themselves affected by structural economic changes.