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Abstract

The development of the hydrogen economy (HE) has become the main direction of climate-focused economic progress. Although the gap between the potential impact of energy companies and their actual willingness or ability needs to be bridged by corporate governance and economic policy, these dynamics are underrepresented in the literature. As environmental, social, and corporate governance (ESG) considerations could foster adaptation and developing hydrogen technologies, the goal of this systematic literature review is to explore the specific environmental and energy aspects of ESG and the adaptation opportunities which could contribute to HE development. Findings suggest that ESG as a new institution in the economy might be in line with national and international policies, but corporate efforts at improving environmental performance could be further oriented directly or indirectly toward hydrogen technologies, for example, through cost reduction initiatives, favourable taxation, or specific requirements for sustainability reporting. On the corporate level, external and internal change drivers could lead to strategic and governance adaptation measures in line with HE development policy. The study contributes to the literature through the intersection analysis of the global ESG trend and the development policy of the HE, which has been overlooked to date, especially from a corporate governance perspective.

Open access

Abstract

While international value chains have been present in planned economies for several decades, their integration into global value chains (GVCs) began in the 1990s. In this study, we investigated the evolution of downstream value chains in Eastern Europe (including the Balkan countries, Moldova, and Ukraine) from 1995, by applying Wang's UIBE methodology and the Eora database. The results of this study suggest that European Union (EU) membership indisputably has a positive impact on GVC embeddedness, whereas non-EU economies are still integrated in their own local downstream value chains. We further investigated the automotive sector in the Central and Eastern European countries and demonstrate how deeper integration into GVCs prompted the emergence of assembly activities.

Open access

Abstract

Central and Eastern European countries, including Czechia and Hungary, have become parts of the integrated periphery in the automotive industry. Through input-output analysis, company data and interviews, the article reveals the determining role of the industry in both economies and their deep integration in global value chains (GVCs). In addition to these similarities, the analysis reveals that domestic, simple and complex global value chain performances, ownership structures, the scale and types of upgrading tendencies as well as the consequences of the appearance of newcomers in the industry show different patterns of GVC structures over time. Due to these, the development paths of the two countries widely differ.

Open access
Acta Oeconomica
Authors:
Judit Krekó
,
Hanna Erős
,
Bori Greskovics
,
Áron Hajnal
, and
Ágota Scharle

Abstract

The study examines the income redistribution effects of the Hungarian flat-tax and the recently introduced family allowance scheme. They were done on the basis of people's individual data for 2007, 2011 and 2020, which yields more accurate estimates than the previous studies based on aggregate or survey data. Between 2011 and 2013, progressive taxation was abolished, and a flat income tax was introduced, along with a substantial widening of pre-existing family tax allowances. We find that the tax reform has favoured high-income earners and taxpayers with children, while the main losers were low-income and/or childless workers. While the share of family tax allowances is somewhat lower for the high-income deciles, this effect is in practice negligible, therefore the income tax system can still be considered flat. The family tax allowance scheme favours wealthy families with many children over low-income families with fewer or no children. The biggest winners of the scheme are the taxpayers in the top income decile with three or more children: these 22,000 taxpayers (that is, 2% of all recipients) receive 10% of the total amount of the family tax allowance, and almost a third of the credit allocated to families with three or more children.

Open access

Abstract

Processes in the past decades have resulted in the segmentation of European industries into ‘headquarter’ and ‘factory’ economies, though these categories are not fully distinct. ‘Headquarter’ economies typically host the higher value added activities and service units while ‘factory’ economies are popular locations for lower segments of the value chains. This setup has implications for EU level industrial policy strategies. In the current times of accelerating technological development and the ever growing servitisation of industries, ‘headquarter’ economies genuinely have better capabilities and resources to gain more share of the value added, and can actually steer the course of events in the sector. In the EU peripheries, new investment often covers relocation of previous technologies and retired assets of original equipment manufacturers (OEMs). The ‘factory’ economies are in a disadvantage in several aspects, while the headquarters optimise according to their own set of strategic preferences, which further compromises the opportunities of industrial actors in the peripheries to shape their own future. Industrial policies, however smart and well designed, have limited chances to influence the character and speed of changes. We review reported cases through which we test literature and contrast realities with aspirations regarding smart and sustainable industrial development across the EU.

Open access

Abstract

Fluctuating prices can cause unintended redistribution of income and wealth, which may be particularly painful to lower income households. Our study examines the indirect effects of this redistribution in an empirical way: it focuses on the capital market distortions of inflation and the disparities in wealth and income. Consumer Price Index (CPI) measures average inflation. However, households feel different inflation rates because their expenditure patterns are different from the ‘average’ patterns. We used the Kruskal – Wallis H test to determine if there are statistically significant differences between low- and high-income households. We calculated alternative inflation rates based on income deciles' different consumption basket. The study finds that households with low income often feel higher inflation than in the actual price indices published by the statistical offices. As our research shows, individuals in different wealth deciles perceive significantly different inflation. Our results also provide important information for economic policymakers, because if social groups perceive different inflation, it modifies the expected behaviour of the population, thereby weakening the economic policy effectiveness of different decisions.

Open access

Abstract

Far the most acknowledged and influential author in the economics of Eastern Europe has been János Kornai, the theorist of economic systems and a prolific writer on a variety of subjects in the seventy years of his academic career. His output appeared in more than a dozen of languages. He was criticized and appreciated, especially on the occasion of his 90th birthday, commemorated by – yet another – Festschrift, special issues of academic journals, later followed up by countless obituaries paying the due tribute to someone who has never made to the Nobel Prize, but whose influence definitely exceeded that of many recipients. In this essay we avoid the usual chronological description and highlight certain major themes and try to establish his place in the history of global economic thought. We are aware of our constraints, since it would perhaps take a monograph rather than an article to serve justice to this exceptional academic output of his.

Open access

Abstract

This article tests the popular Lee-Carter model's performance for Hungarian mortality rate forecasting. Hungary passed through a mortality crisis which makes the task particularly difficult. Previous forecasts and model choices are validated, and updated forecasts are produced. We find that the behaviour of mortality rates is normalizing, and so the basic Lee-Carter model is becoming applicable.

Open access

Abstract

Encouraging people to adopt a healthy diet is believed to reduce the prevalence of obesity. However, a deeper understanding of consumers' psychology regarding healthy dieting is required for this intervention to be effective. To date, knowledge remains limited on the motivations preceding healthy dietary adoption among adult consumers in the Czech Republic, which is undoubtedly facing a high prevalence of obesity among other EU member states. Most importantly, few studies have modeled the food choice motives as primary antecedents of healthy dietary adoption intentions. Therefore, the current study proposes and tests a research model that explains the motivational factors for adopting healthy diets. Data were collected through an online survey involving 161 university students and analyzed using partial least squares structural equation modeling (PLS-SEM) procedures. The results reveal that food choice motives explain healthy dietary adoption intentions satisfactorily. Notably, the natural content and weight control motives positively and significantly affect healthy dietary adoption intentions. The study offers relevant contributions to the science of consumer motivation regarding healthy dieting and practical means to health promotion.

Open access