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• Kornai 90: Beszámoló a Komparatív közgazdaságtan és gazdasági rendszerek: Kornai János gondolatainak hatása című tudományos tanácskozásáról; Budapesti Corvinus Egyetem, 2018. január 18.

  75-82

  Judit Ricz

  Fruzsina Siger

  Views:

  169

  A Budapesti Corvinus Egyetem 2018-ban több rendezvénnyel is tiszteleg Kornai János előtt, aki januárban ünnepelte 90. születésnapját. Kornai jelenleg a Budapesti Corvinus Egyetem kötelékébe tartozik, az Összehasonlító és Intézményi Gazdaságtan Tanszék tiszteletbeli professor emeritusa, és többek között – 2001
  júniusa óta – a Debreceni Egyetem díszdoktora. A 2018. január 18-án tartott egész napos angol nyelvű tudományos tanácskozás házigazdája az Összehasonlító és Intézményi Gazdaságtan Tanszék vezetője, Rosta Miklós egyetemi docens volt.

• Válaszúton a magyar gazdaság

  1-6

  Laszlo Csaba

  Views:

  103

• 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

• Revealed comparative advantage in Hungarian agriculture: a chaotic or coherent pattern?

  59-82

  Imre Ferto

  Views:

  139

  We describe the evolving pattern of Hungarian agri-food trade using recently developed empirical procedures based around the classic Balassa Index at various aggregation level and different bechmark between 1992 and 2002. Our results shows a significant geographical differences and across sub-sectors of 1, 2, and 3 digit SITC classification. The extent of trade specialisation exhibits a declining trend for all benchmarks; Hungary has lost comparative advantage for a number of product groups over time. The indices of specialisation have also tended to converge. For particular product groups, the indices display greater variation. They are stable for product groups with comparative disadvantage, but product groups with weak to strong comparative advantage show significant variation.

  Journal of Economic Literature (JEL) classification: Q12

• Mekkora valójában Magyarország? Lengyel László: Illeszkedés vagy kiválás. Budapest, Osiris Kiadó, 2006, 297 oldal, kötve, ISBN 963 389 636 3, 2480 Ft

  147-151

  Laszlo Csaba

  Views:

  142

• Financial Crisis, Economic Policy and Economics

  19-34

  Jozsef Moczar

  Views:

  138

  Concerning the financial crisis in 2007-2009 many politicians and economists, in addition
  to representatives of other disciplines have asked: why could it not have been avoided,
  why could it not have been forecast? The present paper provides a new answer to these
  questions. The main argument is that empirical economic policy reached a deadlock when
  economists acknowledged the equilibrium models based on efficient market theory. The
  static equilibrium paradigm which appeared in the middle of last century has strongly
  prevailed to the present day, leaving aside Kornai’s (1971) or Benassy’s (1982) or Goodwin’s
  (1991) warnings. Since the economy is never in equilibrium the simultaneous equations
  describing it may not provide any guide for politicians; what they should do and how they
  should do it in a time of economic crisis. The present author’s newest book (Móczár, 2008),
  besides the dynamic equilibrium, also sketches a new paradigm, i.e., non equilibrium
  modelling, instead of the orthodox equilibrium paradigm, which allows us to treat bubbles,
  to regulate money markets etc. Its necessity is outlined here.

  JEL classification: E00, E5, E6, G28 

• The Determinants of Wine Prices: A Systematic Literature Review

  84-101

  Peter Gal

  Views:

  294

  Wine is a highly differentiated product sold at a wide range of different prices. This article aims to provide a systematic review of the literature written on the determinants of wine prices globally. The article runs a search on the combination of keywords “wine”, “price”, “determinant” in the Web of Science, Scopus, JSTOR, ProQuest, and Science Direct databases. Based on a final set of 46 articles written between 1998 and 2018, results suggest that terroir and quality ratings are the most significant determinants of wine prices, while objective quality and label data also determines wine prices, though to a different extent and with a different sign in some cases. The hedonic pricing method was the most common way of analyzing the relationship between wines prices and their determinants, and results are similar for most regions and varieties. We believe that our results can be useful for researchers, stakeholders, and even for decision-makers in better understanding the factors lying behind wine prices.

  Journal of Economic Literature (JEL) codes: D12, D40 Q11

• Csak a név változott...: (Beszámoló az ISNIE éves konferenciájáról; 2015. június 18–20., Harvard Egyetem, Boston)

  88-91

  Judit Kapás

  Views:

  134

  Az intézményi közgazdaságtan vezető nemzetközi társasága, az International Society for New Institutional Economics (ISNIE) éves konferenciáját 2015-ben a patinás Harvard Egyetem Law School-jában tartotta. A rendezvény színvonala méltó volt a helyszín rangjához. Mint minden évben, ezúttal is az intézményi közgazdaságtan legjobb kutatói mutatták be eredményeiket, rendkívül izgalmas és inspiratív szellemi környezetet teremtve. A sorban immár 19. konferencia minden tekintetben megerősítette az ISNIE nagyon erős gyökereit, melyet a társaság első, Nobel-díjas elnökei, Ronald H. Coase, Douglass C. North és Oliver E. Williamson irányítása alatt sikerült nagyon mélyre növeszteni, majd az őket követő kiváló elnökök alatt oldal irányba is fejleszteni, azaz új irányokat is elterjeszteni.

• The problems and future of EU regional policy: the background, preparation and conlcusions of the Third Cohesion Report

  189-206

  Zsuzsanna Tron

  Views:

  111

  As the time approaches for the preparation of the new European Union, budget storm clouds are appearing on the horizon. The various problems and challanges are putting European politicians to the test. The present article investigates the main areas in which experts must act. One of the most visible of these areas is European regional policy. After analysing what regional policí has and has not achieved, and summarising the aims of the structural policy, the article describes the planned reforms and the outline of the new cohesion policy according to the Third Cohesion Report which appeared in February.

• The importance of foreign direct investment in Hungarian economy on the Millenary

  10-25

  Tibor Karpati

  Views:

  124

  In the last two decades foreign direct investments has increased tremendously all over the world. Therefore the study of their economic influences and consequences is in the centre of international and Hungarian research. The paper without aiming at completeness gives a short summary of their influences on the recipient country, which is followed by the analysis of the Hungarian statistical data. These investments are of primary importance in Hungary. They played an important role in putting the country on an export-governed growth path at a time when inner accumulation did not make this possible. Their import demand exceeding export can be considered as an infavourable influence, with which FDI contributed to foreign trade deficit to a great extent. The annual capital influx helos compensate for the deficit of the balance of payment, however a major part of this deficit results from the withdrawal of the earnings realised with the help of FDI, which has been at a growing rate since 1998. The figures of the Hungarian companies (between 1998 and 2001) show that the duality of the Hungarian economy is not spreading.

• Zsákban táncolva, avagy az egyetemi innovációs stratégia sajátosságai

  Istvan Polonyi

  Views:

  135

  Az alábbi írásban igyekszem az egyetemek néhány olyan fejlődési és működési (szervezetszociológiai és oktatás-gazdaságtani) sajátosságát felvázolni, amelyeket egy egyetemi innovációs stratégia elkészítése során − ha annak nem pusztán deklaratív, szimbolikus céljai vannak − nélkülözhetetlen figyelembe venni. Fontos megjegyezni, hogy a szimbolikus célú tervek, (küldetés)nyilatkozatok, víziók, stratégiák stb. egyáltalán nem idegenek az egyetemektől, sőt a mai napig lényeges elemei egy-egy egyetem közösségének megteremtésében.

• Fejlődésértelmezések: a latin-amerikai és kelet-ázsiai fejlődés államközpontú értelmezése

  115-130

  Zoltan Adam

  Views:

  170

  A tanulmány a huszadik század második felének latin-amerikai és kelet-ázsiai gazdaságfejlődését elemezve felhívja a figyelmet az állami szerepvállalás jelentőségére a gazdasági fejlődés előmozdításában.
  A fejlesztő államon alapuló kelet-ázsiai modell sikere és a latin-amerikai fejlődés kudarcai egyaránt arra utalnak, hogy a világgazdasági felzárkózás egyik legfontosabb feltétele egy megfelelő bürokratikus képességekkel és integritással rendelkező államapparátus jelenléte. Ugyanakkor a fejlesztő állam által alkalmazott intervencionista gazdaságpolitikára ma már nem csak a külső adottságok megváltozása miatt nincs mód, hanem a fejlődés sajátos dinamikája miatt sem: az egyik leglátványosabb fejlesztéspolitikai sikert elérő Dél-Koreában az önálló világpiaci szereplővé vált óriásvállalatok függetlenedési törekvései és a liberális demokrácia növekvő társadalmi támogatottsága egyaránt hozzájárultak a fejlesztő állam hagyományos intézményrendszerének lebomlásához. A gazdasági fejlődés előmozdításában azonban – különösen a technológiai fejlődés, a foglalkoztatásbővítés és az esélykiegyenlítés területén – ma is nélkülözhetetlen szerepet játszik az állami gazdaságkoordináció.
  
  JEL-kód: B14, B15, E61, F02, H11

• The suspicion of Dutch Disease in Russia

  103-124

  Tamas Borko

  Views:

  187

  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

• Milyen válságról van is itt szó? Szentes Tamás: Ki, mi és miért van válságban? A leegyszerűsítő nézetek és szemléletmód kritikája Napvilág Kiadó, Budapest, 2009. 232 oldal, 2400 Ft

  202-205

  Zoltan Pusztai

  Views:

  114

• Features of Knowledge Intensive Business Services from Innovation Aspects

  147-156

  Sandor Nagy

  Views:

  158

  Based on the innovation approach to services this paper defines knowledge intensive business services and gives an overview of their features from innovation perspectives. It finds that different service activities are related to innovation systems to varying extents. Compared to other sectors, services lack stimulative institutional and other formal support systems that may act not only as knowledge centres for companies but could also contribute to both the protection and spread of innovation. In contrast with production, the absence of an efficient protection of intellectual property indicates a significant risk in the service sector, and hinders optimal knowledge transfer and results in waste and duplication in innovation efforts.

  Journal of Economic Literature (JEL) Classification: O31, O32, L84

• The Economic Theory of Clubs

  64-85

  Nora Ilona Elek

  Views:

  191

  Defining club goods allows an analysis of goods that possess neither pure public goods nor pure private goods characteristics. This is the main significance of the economic theory of clubs. The present paper categorises club good among goods in general on the basis of the relevant literature, and specifies the core elements of a definition of clubs and club goods. Then, by summarizing the most important articles on the subject, this paper delineates fundamental questions and models of club theory. Finally, supporting the relevant practical issues of club theory, this study describes economic fields where the theory has been applied.

  Journal of Economic Literature (JEL) classification: H41, H49

• Emigration or staying at home? The role of loyalty in migration decisions

  3-21.

  József Golovics

  Views:

  136

  This paper investigates the reason behind the modest level of international migration in the presence of vast development disparities and low mobility costs. It is argued that this can be explained by the psychic aspects of migration. In the applied approach, psychic costs are not included in mobility costs; instead, they arise from the interconnectedness of people and their altruist attitudes. The study claims that this kind of psychic connection, defined as loyalty, may play a more important role in migration decisions.

  Journal of Economic Literature (JEL) codes: D01, D03, F22

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

  150-166

  Eva Nagy

  Views:

  121

  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.

• A többszintű kormányzás kifejlődése a regionális politikában - tanulságok az Észak-alföldi régióból

  161-180

  Zsuzsanna Tron

  Views:

  136

  A tanulmány a magyar regionális politika terén kialakult partnerséget és kapcsolati hálót elemzi az Északalföldi régió példáján. Megvizsgálja, hogy a kapcsolatok alakulását mennyire kényszerítette ki az európai uniós rendszerekhez való alkalmazkodás nyomása. A hálózatépítés a legtöbb szervezetben bevált alkalmazkodási stratégia. Az esettanulmányként választott régióban a szervezetek kapcsolathálója nem egyenletes: egyes szereplők centrális helyzete mellett másoknak csak kevéssé sikerült beágyazódni a kapcsolatok hálózatába. A regionális politika köz-, magán- és civil szereplői kapcsolathálójának vizsgálata során a kutatás feltárta ezek párhuzamosan folyó együttműködési és versengési formáit. A szerző legfőbb következtetése, hogy az EU-integráció által kiváltott alkalmazkodási folyamatok regionális szint alatt intézményi konfliktusokat szülnek, míg országos szinten segítették a kapcsolatok fejlődését.

• Az agrárpolitika hatása a föld árára

  69-82

  Lajos Zoltan Bakucs

  Imre Ferto

  Views:

  115

  A cikk az agrárpolitika a földárakra gyakorolt hatásával foglalkozik. Az empirikus tanulmányok és a közgazdasági modellek legfőbb eredménye, hogy az agrárpolitikai támogatások tőkésednek a földárakban,
  azonban ennek terjedelme meglehetősen széles intervallumban mozog. A mennyiségi szabályozással kombinált agrárpolitikai eszközök hatása a földárakra azonban kevésbé egyértelmű. A számítások azt
  mutatják, hogy föld árrugalmatlan, noha korántsem annyira, mint azt az elméleti modellek feltételezik. Az empirikus tanulmányok rávilágítottak arra, hogy a különböző agrárpolitikai programok hatását
  külön-külön kell becsülni, mert egyébként torzított eredményeket kaphatunk. A hedonikus regressziókon alapuló számítások azt sugallják, hogy a föld és a hozzá kapcsolódó változók térbeli sajátosságai szintén
  befolyásolják a kormányzati programok hatását.

  Journal of Economic Literature (JEL) kód: Q 15, Q 18

• Nyugdíjreform-dilemmák – jövedelemelosztási arányok és makropénzügyi egyensúly

  5-32

  Laszlo Antal

  Views:

  145

  The paper aims to outline the main relations and critical points of the pension system which make the reform of the whole system inevitable in near future. The most important cause stems from demographic change: in the developed countries average life expectancy is rising rapidly while the number of births is diminishing. This results in rising retirement outgoings and decreasing revenues from superannuation taxes. In addition to this medical expenses are increasing due to the development of treatment methods. In contrast, in Hungary the average life expectancy will only increase after 20-30 years. The main problems of the distributive systems are rooted in the particular characteristics of the political change following the collapse of communism. The level of employment decreased dramatically and there are many tax arbitrage opportunities. In addition nowadays 90% of employers tend to retire on a pension before retirement age. These factors make the main distributive system unsustainable. Additionally the elderly dependence rate will double in the next few decades. Parties debating a socially and financially sustainable main distributive system agree on the inevitability of an increasing role for self-provision and a cut in the growth in expenditure. The pension system will not be able to keep pace with growing wages, to guarantee insurance principals and a minimal income in old-age, and to meet the requirements of long-term financing at the same time, especially not in the period of demographic changes.

  Journal of Economic Literature (JEL): I38, J11, J26 

• The characteristics of the Hungarian cafeteria system examined in the context of changes in tax laws

  126-132

  Emese Törö

  Views:

  133

  The article deals with the system and function of optional fringe benefits in the Hungarian labour law as well as with the taxation rules in connection with fringe benefits. In this context, we deal firstly with the conditions of the use of the cafeteria system and present the advantages connected to them. Then, the individual regulation of different allowances which are grouped according to different criteria is analysed, with special emphasise on the changes in tax law.

  JEL classification: J32, K34

• A gazdasági növekedés gyorsításának esélyei Magyarországon 2030-ig

  5-26

  Peter Mihalyi

  Views:

  135

  The regime change in 1989/1990 has not produced the expected result: Hungary has not been able to catch-up with the Western market economies. Can Hungary grow 2-3 times faster then its competitors during the next 20 years, as the present Hungarian government declared in its economic plans? Can Hungary improve its relative position and catch-up with the per capita GDP level of the EU-27 average by 2030? The conclusion of the paper is that this is very unlikely to happen. But there is ample room for accelerating productivity growth, and in this regard, every percentage difference counts enormously in the long-term. Three factors of production are analyzed: the natural-physical-geographical endowments of Hungary (N), Labour (L) and the capital stock (C). The following new findings are discussed. First, contrary to the widely held view, the amount of labour currently used by the Hungarian economy is not low in international comparison. The education of the workforce is also adequate. The problem is its allocation: too many workers are employed in low productivity, small firms. The only way forward is to promote the concentration of enterprises, to support the increase in the number of medium-sized and large firms. Second, the rate of domestic savings needs to be increased considerably, to allow for a low-cost financing of investments. In turn, this requires a substantial reform in three areas: healthcare, pensions and higher education. As long as the welfare state exists in its present form and these three spending items are largely financed by the state, one cannot reasonably expect households to save and accumulate families" long-term reserves in financial assets. But before these changes happen the political alite must accept that the obstacles to productivity growth have to be removed from the legal and political stuctures.

  JEL classification: E66, O47, O50, O52

• Transaction costs in the standardization of mobile telephone systems. The case of Japanese mobile standards

  83-97

  Istvan Kovacs

  Views:

  112

  Although there have been papers concerned with the connection between standardization and transaction costs, they have analyzed how standards decrease transaction costs. This paper shows that transaction costs emerge during the standardization process. If the creation of a standard is seen as a transaction, in which the parties exchange their explicit and implicit knowledge, standardization can be analyzed from the viewpoint of Transaction Costs Economics. Undoubtedly the knowledge of the parties is a specific asset, exchange of which causes significant transaction costs; therefore opportunism plays a crucial role
  during standardization. In this paper I show that the standardization of mobile phone systems can be analyzed in the framework set up by Teece (1986) in order to point out how transaction costs could be decreased in particular cases. The standardization of second generation mobile systems in Japan illustrates the statements made in the theoretical part of the paper.

  Journal of Economic Literature (JEL) classifications: D23, O31, L96

• The macroeconomic possibilities of biosimilars in developed countries

  3-18

  Peter Halmosi

  Views:

  207

  Biosimilars have been used for the treatment of chronic diseases since 2006 in the EU but only since 2015 in the U.S. Despite high market potentials and presumed positive macroeconomic effects in the health care sector, widespread usage is strongly confronted with the opposition of physicians and pharmacists. However, biosimilars are supposed to reform health care financing, alter market positions of pharmaceutical companies and amend informational triangle among physicians, patients and insurance companies in the near future. The use of biosimilars is supposed by experts to reach extra health related savings even if doctors and pharmacists are averse to offer these products to patients in a certain therapeutic area. Governments have currently found no unique way of regulating the marketing, substitution and price regulation of biosimilars. The aim of this study is to discuss the macroeconomic possibilities and barriers incarnated in the usage of biosimilars in developed countries.

  Journal of Economic Literature (JEL) codes: H51, I11, I12, J18