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• Corporate and state roles in Hungarian industrial development after the nineties

  7-22

  Adam Torok

  Views:

  97

  In the nineties the development of Hungarian industry was first disappointing, but later it was definitely rapid and successful. Several publication have described the process of this industrial transition in general as well as in the light of the foreign market performance of Hungarian industry. However, the majority of the analyses were based on stistical surveys and the participants of the processes were somewhat neglected. For this reason the present study examines the influence of major corporate participants and that of the government on the development of the industry, as well as their behaviour, and conclusions are drawn as regards the strategic potentials of Hungarian industry after 2003 and 2004. First the study offers an overview of the most important corporate participants of the Hungarian industry, then it seperately discusses the peculiarities of the market presence of foreign industrial firms, in particular to what extent the European Union's ambitions, taking shape from the year 2000, aiming at improving competitiveness can be reflected in Hungarian economic policy. Thus the question is whether we can expect the revival, to some extent, of Hungarian industrial policy which has appeared to be lifeless since 1996, and whether we can expect state participation in the promotion of the development of Hungarian industry which should be of European standards and yet more active than round the turn of the century.

• A kulturális és kreatív iparágak a világ legfrekventáltabb régióiban

  Anett Galyasz

  Views:

  174

  This study touches on and organises the definition of the creative industry, creativity and the differences in terminologies used within the creative economy. These help to form and idea of which areas different countries or regions consider dominant from the developmet point of view. Beyond this, the study describes the attempts to map out the conceptual system of the creative economy and its statistical measurement. It therefore examines the statistical, economical and social characteristics of the creative industries, in accordance with the Europe 2020 Strategy and other professional documents. It aims to provide a comparative analysis of different regions' creative industries. Lastly, regarding to Hungary, it defines future tasks.

  Journal of Economic Literature (JEL) classification: Z1

• The emergence of digital transformation in the automotive industry - Industry 4.0 in Hungary

  3-28

  Nikoletta Tóth-Kaszás

  Ildiko Ernszt

  Erzsebet Peter

  Balint Mihalics

  Views:

  379

  It is no exaggeration to say that the digital transformation can be seen as both a paradigm shifts and a real technological revolution (Perez, 2010, Mergel, et al., 2019). In order to get to know the preparedness of the Hungarian automotive industry players in the topic, we conducted an empirical research in October - December 2020. The main goal was to determine the level of automotive actors in the digital transformation process. Company leaders were primarily asked about their progress in the digital transition process, its opportunities and challenges, organizational culture, and potential human resource management responses. This study focuses on the digital transition concentrating on the following dimensions: strategy and leadership, human resources, business processes, supply chain, manufacturing, products and services. Based on the results, we classified the examined Hungarian automotive industry actors into clusters.

• Monetary Impacts and Overshooting of Agricultural Prices in Hungary

  39-49

  Zoltan Bakucs

  Views:

  100

  This paper employs the theoretical model developed by Shagaian et al. 2002, to analyse the response of various sectors of the Hungarian national economy to changes in the money supply. Johansen co-integration and vector error correction methodology is used to test whether agricultural prices overshoot their long-run equilibrium path if a monetary shock hits the system. Our results emphasise that agricultural prices do adjust faster to changes in macroeconomic conditions, in particular money supply, than industrial prices, thus affecting relative prices in the short-run; however, strict long-run money neutrality does
  not hold. The result is that flexible sectors of the national economy, such as agriculture or services, bear the burden of adjustment, with significant consequences for farms’ viability.

  Journal of Economic Literature (JEL) classifications: C32, E51, P22, Q11.

• The prospects of uniformization of the internal market of electricity in the European Union

  3-22

  Eva Sztanko

  Views:

  203

  The European internal market of electricity is not yet uniform, although it has been moving toward this direction for the last two decades. The energy market position of the consumers has been strengthening, the liquidity and the cross-border trade of the European electricity markets has been increasing. The stronger competition limited the wholesale prices. Despite the backsliding or stagnating household and industrial consumption, however, the retail prices and the costs have been increasing. The EU has to carry on reforming the electricity market in order to satisfy the need for more flexible energy-systems, to increase the competition, to make the consumers react to price changes in a more flexible way, to create more cost-effective governmental/market measures to handle price volatilities, to finance investments, and to minimise cost increases. The most recent comprehensive recommendations of the European Committee intend to create a new electricity market model, however, it yet remains to see the reception of these on behalf of the member countries.

  Journal of Economic Literature (JEL) code: Q48