A közgazdasági irodalom növekedési
elméleteiben nem alakult ki konszenzust afelől, hogy az országok vagy régiók
növekedése hosszú távon konvergenciához vagy divergenciához vezet. Jelen
tanulmányban azt vizsgáljuk meg, hogy a különbözőmegközelítések szerint hogyan
lehet (halehet egyáltalán) a kiegyenlítődés felé terelni a gazdaságokat, vagy
legalábbis a fejlődési különbségek enyhítésére átmenetileg milyen erőfeszítéseket
érdemes tennie egy or__
A feltörekvő, fejlődőországok, különösen, ha azok a volt
szocialista országok közé sorolhatók, hosszú folyamaton mennek át, mire
gazdasági, piaci, technológiai rendszereik a fejlett piacgazdaságú országok
jellegzetességeit mutatják. Tanulmányunkban azt vizsgáljuk, hogy a
piacorientáció milyen összefüggésben van a vállalatok üzleti teljesítményével,
és miként befolyásolja mindkettőt az üzleti környezet egy feltörekvőországban,
Magyarországon. Egy 572 vállalatot magában foglaló kutatás során_
Authors:Ágnes Kotsis, Ádám Faragó, József Gáll and Veronika Madarasi
Dolgozatunkban a gazdasági szféra oktatással szembeni
elvárásait és véleményét kívánjuk bemutatni egy Észak-Alföld régióban végzett
kérdőíves felmérés eredményeinekismertetésén keresztül. Az elsőrészben a minta,
a mintavétel és a megkérdezett vállalatok néhány fontosabb jellemzőjét írjuk
le. Ezután megkíséreljük bemutatni, mely területen tapasztalhatóstrukturális
eltérés az oktatási kibocsátás és a gazdasági kereslet között, majd kitérünk a
vállalatok felsőoktatási intézményekkel való elégedettségére, elsősorban a
régiós intézményekre koncentrálva. Ennek során megállapítjuk: néhány képzés
kivételével a vállalatok közömbösek az iránt, hogy a munkavállalóa régióban
szerezte-e a diplomáját, és csak nagyon kevés esetben mondható, hogy
kifejezetten preferálják a nem régiós intézmények képzéseit. Mindemellett a
vállalatok a felsőfokúvégzettségű alkalmazottaik nagy részét továbbképzik,
ebben azonban nem támaszkodnak a (regionális) felsőoktatási intézményekre. A
tanulmány második részé_
Bevezető a Három éve az ötven éves
EU-banc. konferencia előadásait tartalmazó folyóiratszámhoz. A konferencia
rendezői a Budapesti Corvinus Egyetem Nemzetközi Kapcsolatok
Multidiszciplináris Doktori Iskolája és a BCE Közgazdaságtudományi Karavoltak.
Időpont: 2007. november 27. és december 1. között.
Napjainkban kialakulóban van a
fejlődés egy új paradigmája, amelyből az állam szerepvállalására nézve
alapjaiban új következtetéseket vonhatunk le. Röviden bemutatjuk, hogy mit
értünk tágan értelmezett fejlődés alatt, majd konkrétan az állam fejlődésben
betöltött szerepének átalakulását vizsgáljuk. A gazdaságpolitikai beavatkozások
lehetséges pontjait a szegénybarát és megosztott növekedés, valamint a tágan
értelmezett fejlődés érdekében elemezzük, utalva a reformok megfogalmazásának,
beindításának és megvalósításának problematikájára. Végül mindezek ismeretében
vállalkozunk az állam fejlődésben betöltött szerepének újradefiniálására.
Mindeközben egy pozitív megközelítést alkalmazunk, azaz megfogalmazzuk, hogy mi
a célja az állami beavatkozásnak, van-e ennek általánosan érvényesíthetőoptimális
mértéke, milyen eszközökkel milyen eredményeket érhet el.
A tanulmány a jelenlegi magyar felsőoktatásban tapasztalható
kulturális divergenciával foglalkozik. E célból a szerzőegy módszert dolgozott
ki, amelyet „Mentalitástörténeti Azonosítónak” nevezett el. A munka alapvetően
empirikus, viszont a kutatási tárgynak megfelelőkorszerűirodalmon alapszik. Az
empirikus eredményeket bemutató elméleti bevezetőmegkísérli definiálni a
mentalitás fogalmát és megtalálni a különbséget a mentalitás és a pszichológiai
Az Európai Unió 2004-es bővítése
nyomán az innováció és a termelékenység szintjeit tekintve megmaradtak a
határok Kelet- és Nyugat-Európa között. Az ezen innovációs szakadék
betemetésére szolgáló kutatási és fejlesztési (K+F) erőfeszítések mértéke nem
látszik elegendőnek a közép- és kelet-európai tagállamok pozíciójának
javítására. A cikk arra keres választ, hogy az ezen országok vállalati
szektoránál tapasztalt alacsony K+F-kiadások emelését milyen motivációk
segíthetnék. A Világbank 2002-ben és 2005-ben készült vállalati felméréseib__
A tanulmány a közigazgatási
(menedzsment)reformok olyan területére –a vizsgált reformok értékelhetőségének
szükségességére és az ezzel kapcsolatos konceptualizálási és operacionalizálási
nehézségekre –fókuszál, amely a hazai szakirodalomban leginkább elaprózott formában
jelenik meg. Az alapvetően problémafelvetőírás példálózó jelleggel említ néhány
olyan elvi lehetőséget, amelyek az irodalomban felmerültek, vagy amelyek
használhatósága a témával kapcsolatos irodalom megállapítŕ_
A kistérségek fejlettségének
meghatározásánál, valamint a fejlesztési források decentralizációjánál a
kistérségek komplex fejlettségi mutatóját veszik alapul. A kistérségek
térszerkezete azonban nem tekinthetőhomogénnek: az egyes települések
fejlettségi mutatói, valamint a kapcsolati rendszerek elemzése alapján
kimutathatóak a centrum-, illetve perifériatelepülések. A hátrányosan érintett
települések „károsítása” a kistérségbe érkezőfejlesztési források kisebb
mennyisége mellett abban is megragadható, hogy a nagyobb települések gazdasági
A turizmus gazdasági szerepe az elmúlt időszakban
fokozatosan és dinamikusan növekedett, többek között jelentős GDP-előállító
funkciójából és munkaigényes jellegéből, valamint jelentős beruházás-gerjesztőhatásából
adódóan. A turizmus mint üzleti tevékenység ugyanakkor támaszkodik az állam
szerepvállalására is. Számos olyan externália társul hozzá, amely államilag
koordinált esetben a fejlődést _m
Ausztrália külkapcsolati rendszerének kialakítása során
figyelembe kell vegye földrajzi elhelyezkedését és angolszász eredetét is. A
kiotói jegyzőkönyv esetében azonban egy olyan globális probléma kezelési
kísérletével állunk szemben, amely a hagyományos ausztráliai külpolitikai
gondolkodást új utakra kényszeríti. A külgazdasági kapcsolatok, a nemzetközi
politikai szereplőkkel kialakított eddigi viszony Ausztráliát a jegyzőkönyvet
aláíró, de nem ratifikáló országok táborába terelte. A 2007. novemberi
választásokat követően a jobboldali k_o
Authors:Tibor Keresztély, Ilona cserháti and Zsuzsa Varga
EU transfers play a significant role in the long-term convergence of the Hungarian economy. The paper presents several channels through which transfers can be effective. First the modelling experiences and other techniques are summarised which can be useful to estimate the impact of EU transfers.Next we present the so-called ECO-TREND model developed in the ECOSTAT, suitable for both mid- and long-term forecasts and scenario analysis. The assessment of the model parameters has been based on standard statistical methods and on experts’ estimations. Such a model can be a useful decision-making tool for the economic policy. Finally, forecasts are presented for the Hungarian economy until 2020, which is completed by the analysis of three different macroeconomic scenarios based on different subsidy-absorption rates and different structures of expenditure.
Looking at almost forty years’ data the strong preference of consumption and housing investment to financial savings is an observable characteristic of Hungarian households’ long-term behaviour. This observation seems to be valid despite the substantial changes in the institutional system. Credit supply has played an important role in this. Households increase their consumption and housing expenditures by taking advantage of lending opportunities. The increased credit supply is coupled with a low financial savings rate. This in not unique in the European countries, however, it may lead to a riskier macroeconomic path for Hungary.
Efficiency or effectiveness? It not just the matter of definition. Experts and researchers have to make a difference between the qualitative and quantitative approach. The efficiency of EU subsidies means the ratio of the committed and disposable amount of EU subsidies can be measured, which was used and paid out within the given timeframe and along the legal regulations. The effectiveness of EU subsidies needs a much more complicated and complex approach than efficiency. The effectiveness of usage on a project level can be measured by the ‘added value’ of the project; and on the programme level by the added GDP growth or employment rate. The following research essentially analyses the project level or micro-effectiveness, however, it discusses the results of some macro-analyses as well (qualitative approach).
The EU is confronted with a series of important problems. The two that interest us most in the present paper are the lack of competitiveness on international markets and the considerable internal (regional) imbalances. Since quite some time the EU has put policies in practice to address both problems: the Lisbon Strategy for the former and Cohesion Policy for the latter.In our paper we describe the rather independent development of both policies in terms of objectives, instruments, delivery system, etc. We highlight that the main inadequacy of the Lisbon Strategy is its lack of funds. The solution that has been found to this problem is to reorient these funds originally destined to address cohesion problems to the aims of competitiveness, notably innovation. This has been done maintaining the Cohesion Policy delivery system. Although this somewhat distorted solution has proven workable, quite a few inadequacies in matters of effectiveness have emerged. We conclude the paper with some recommendations to improve that situation by the use of better coordination methods.
The lack of a strong local entrepreneurial activity and the presence of a flourishing rent-seeking sector are two of the major issues raised when debating on developing and transition countries. We claim that the allocation of entrepreneurs between productive and rent-seeking sectors is mainly determined by the reward structure that prevails in both sectors. The introduction of a rent-seeking spillover factor permits to demonstrate that the entrepreneurs involved in production activities may find it convenient to switch to unproductive ones, when the production method operates under decreasing returns.
New Member States (NMS) are receiving large and increasing volumes of EU transfers that affect the process of convergence between the EU economies. Growth benefits from EU funds, related to a real convergence, depend strongly on the absorption and utilisation of the transfers, with the priority to finance investments. EU transfers bring opportunities as well as challenges for the process of nominal convergence between NMS and the EMU economies. The intervention highlights the argument that macroeconomic policies oriented towards a sustainable growth, close to its potential, help new members maximise benefits from EU funds.
EU funds have been an important component of economic landscapes in the new member states (NMS) after their EU accession in 2004. A review of funds allocated to NMS under the 2007–2013 financial perspective shows a substantial growth in nominal terms. The increase relative to the GDP of the beneficiary countries is much more modest. This implies that the economic impact could be less spectacular than expected. From this viewpoint, it is crucial to ensure high absorption and efficient allocation of Structural Funds which are gaining importance in total transfers. Different frameworks established by NMS to manage EU funds show that there is no one-fits-all model. Experiences with absorption of Structural Funds in NMS have been mixed, with no conclusive evidence for superiority of any particular approach. NMS tend to streamline their initial frameworks to improve absorption, a reasonable approach to help utilise the increasing 2007–2013 allocations. At the end of the day, the goal of EU transfers is increasing growth potential. This dimension could be captured by economic models. While they are useful analytical tools, the results could differ a lot and should be taken with a grain of salt given the problems of model specification and calibration for NMS. Finally, the experience of old member states shows that high inflows of EU funds could not substitute, but only complement, good economic policies.
The EU budget review, launched by the Commission in 2007, is a unique opportunity to critically examine EU policies and instruments. Structural Funds are at the heart of the EU’s cohesion efforts, and amount to almost one-third of the Community’s budget. They have two declared objectives, economic growth and regional convergence, but these do not always complement each other. The allocation of the Structural Funds is not efficient from a pure growth standpoint, and a large proportion of transfers takes place
regions. With enlargement, cross-country transfers increased significantly to 40% of total flows, and intra-regional redistribution decreased. In a more diverse EU, this is a step to the right direction. Yet, almost three-quarters of intra-country redistribution still happens within regions.
EU Cohesion Policy transfers have the effect of enabling the least wealthy regions to achieve higher levels of investment in human and physical capital than would otherwise be the case, so helping to improve their long-term competitiveness. There is evidence of significant growth in GDP and a considerable reduction in unemployment compared with the case without subsidies. However, beyond its quantitative effects, the added value of the policy arises from other aspects, like the contribution made to national regional development policies by factors such as multi-annual programming frameworks, partnership, evaluation, co-operation between regions, and its political added value. These impacts have clearly contributed to the ‘Europeanisation’ of objectives, contents and operation of national development policies.
In Europe, the new member states face the challenge to implement and evaluate EU-funded policies. This paper sketches the experiences in evaluating policy instruments funded by the European Social Fund (ESF) in Germany and discusses lessons to be learned from the comprehensive evaluation of ESF-funded policy measures in Germany in the programming period 2000–2006. It presents the matching procedure we used to estimate the net effect of the projects scrutinised. The experiences from the evaluation not merely comprise the methodological aspect (how to evaluate effectiveness and efficiency of labour-market policies), but also consequences that can be drawn in respect to the institutional background.
The purpose of this paper is the empirical testing of the relationship between economic growth and government spending and, at the same time, to determine the extent to which economic growth causes growth in government expenditures (Wagner’s law) or the other way around (Keynesian hypothesis). The econometric analysis, using data for the Greek economy covering the period 1958–2004 and based on recent developments in the theory of cointegrated processes, reveals a long-run equilibrium relationship between government expenditures and economic output. Furthermore, the analysis detects causal effects in both the short-run and long-run horizon running from government expenditures to the level of economic activity and vice versa.
Turkey faces a tremendous pressure for adjusting its governance structure to the EU accession requirements. The challenge seems to touch upon some core aspects of political transformation such as the emergence and self-organising power of an autonomous civil society, and the mobilisation of societal actors beyond the national boundaries on European level. The European impact on the governmental logic also corresponds with an extremely fragile process of consolidation of democracy in Turkey. However, Turkish democracy is still fragile and far from being consolidated. In this context, the paper argues that a successful process of consolidation of democracy is conditioned by three factors: (1) a moderation of the demands of the social forces in the country; (2) a governmental strategy based on the accommodation of these demands with a tolerant political perspective; and (3) a serious engagement by the leading circles with the problems of governance in the country both in the centre and on the periphery.
Authors:Horst Hanusch, Andreas Riedl and Florian Wackermann
Since it is crucial for public institutions to spend the taxpayers’ money effectively and efficiently, we have analysed the methods used to check for these two criteria in the European Union’s ‘YOUTH’ Programme. We find that the currently applied method is not theoretically sound and also hardly justifiable politically. Therefore, we present a new approach which includes the important aspects that a public organisation needs to respect: it is theoretically correct and fulfils economic standards; it is valid in political standards; it is feasible; and it is easily understandable for a large public. We singled out two factors which are readily observable and are good proxies for the decision if a project is worth supporting by public funds: the number of people reached and the quality of the programme proposed. We also show why our method is better suited to measuring the effectiveness and the efficiency of spending public funds, and judge the new approach in the modified framework for 2007–2013.
Since the reform of the Structural Funds in 1988 resulting from the Single European Act, Spain has been a net beneficiary of structural resources from the EU budget (which includes the Structural Funds and the Cohesion Fund). This situation has changed in the period 2007–2013, when significantly less EU funds will be allocated to Spain. The country will need to adapt to a changeover from being a net beneficiary of EU funds to becoming a net contributor.
Regional Policy is one of the most comprehensive European policies. It reaches out to and serves as a facilitator for several other policy areas. As the EU is just ahead of its comprehensive budget review exercise, one should pose the question: why a Regional Policy at EU level? What are the main strengths and weaknesses of the EU’s Regional Policy, how should its efficiency be reinforced? Looking ahead one can see a few important challenges that the Union will have to face. Globalisation, and the management of global imbalances and global crisis are obvious candidates for the list. The relocation of economic activity to Asia or to Eastern Europe has been an issue for some time now, an issue that creates societal unease in Western Europe. This article tries to find out how can and should the EU Regional Policy act under these circumstances.
This paper tests a neo-Heckscher-Ohlin versus a neo-Ricardian framework for explaining vertical intra-industry trade. The study applies panel techniques with instrument variables to analyse trade between ‘old’ EU and 10 Central-East European countries in their post-transition period. Results show country-pair fixed effects to be of high relevance for explaining vertical intra-industry trade. Technology differences are positively, while differences in factor endowment, measured in GDP per capita, are negatively correlated with vertical intra-industry trade, and confirm the relevance of the neo-Ricardian approach. In addition, changing bilateral differences in personal income distribution during the transition of Central-East European countries towards a market economy contribute to changes in vertical intra-industry trade.
This paper reviews the progress of banking reforms in China. Since 2002, the reform strategy has relied on publicly-financed bailouts, implementation of international best practices in bank governance and regulation, and listing of major banks in Hong Kong. The three largest banks have been stabilised, but we find little reason to expect this to be sustainable. Prudential indicators are comparable to international averages, but this is an outcome of bailouts and ongoing credit boom. Reforms of bank governance and regulatory frameworks that would alter banker’s incentives are implemented in a selective manner; principles that concentrate key powers in the centre are implemented vigorously, whereas those that require independent boards and regulators are ignored. Selectiveness of institutional reform means that the largest banks remain under state control and can be used as means of development policy for the better or the worse.
Introducing the two-tier banking system in 1987 was a pivotal step in modernising the Hungarian economy. For the last two decades the Hungarian banking industry has significantly changed regarding ownership, institutional and market structures. The quality of financial services has considerably improved. Financial deepening has taken place as a result of organic developments as well as government policies. Bank clients have, no doubt, gained a lot in terms of quality and price of services. However, as international comparisons of market efficiency demonstrate, elimination of oligopolistic market structures in retail banking should further enhance consumer welfare.
In this paper we analyse the most important mechanisms of the Hungarian economy with the help of a medium-sized quarterly macroeconomic model developed jointly by the Economic Policy Department of the Ministry of Finance and the Institute of Economics of the Hungarian Academy of Sciences. After introducing the building blocks of the model we investigate, within a scenario analysis, the effects of the main factors behind the macroeconomic and budgetary processes. The sources of uncertainty — defined in a broad sense — are categorised into three groups: changes in the external environment (e.g. an adverse external business cycle shock or an exchange rate shock), uncertainties in the estimated behaviour of economic agents (e.g. in the speed of wage adjustment or in the extent of consumption smoothing), and economic policy decisions (such as the increase of public sector wages). Taking into account the complex relationships between the various areas of the economy, we analyse the short and medium term consequences of such shocks and uncertainties on GDP, its components, the general government deficit and the public debt. We also show that the macroeconomic consequences of the uncertainties are not independent of each other: for instance, the effects of an exchange rate shock are influenced by the speed of wage adjustment.
The case study of AVIUM agricultural and AVIUM 2000 food processing co-operatives prepared within the Regoverning Markets programme, we aimed to identify certain conditions and possibilities for the Hungarian SME farmers to join the modern food supply system drastically and continuously changing in the last 15 years. The basic elements of uniqueness and sustainability of the two co-operatives are: optimal size, horizontal and vertical co-ordination and the personality of the chairman. In case of the processing co-operative — which seems to be the more successful at the moment — we can also mention the marketing strategy using diversification in the number as well as in the type of the partners, avoiding the multinationals and exploiting the market niches; the integration of wholesale services and the maximal utilisation of development tenders and subsidies.
Agricultural producer groups are akin to marketing co-operatives and appeared in Poland after the transformation. The article investigates the emergence of legislation regulating the functioning of producer groups and offering them financial support. The legislation was an essential stimulus for setting up new producer groups. The number of groups applying for subsidies has been systematically rising. Many groups, however, were disbanded within the first few years after the legislation came into effect. In many cases group members expected different forms of subsidies and less complicated application procedures. The provision of adequate information for farmers and the training of civil servants who would be able to assist them in interpreting the law could have increased the utilisation of support.
This paper presents a new business model for an effective market inclusion of small-scale dairy farms from Plovdiv region, developed by a private entrepreneur. First, it describes the major features of the innovation. Next, it identifies drivers and changes of inclusion, and assesses its efficiency and sustainability. Finally, it evaluates the possibilities for up-scaling the model, and suggests business and policy recommendations.
The study examines the Mórakert Purchasing and Service Co-operative, in Mórahalom, Hungary. The co-operative is active in the fruit and vegetable sector and it was the first officially acknowledged Producers’ Organisation (PO) in the country. It works as a successful co-operative in terms of increasing annual turnover and membership thus being a good example for solving various co-ordination issues in Hungarian horticultural sector within an evolving supply chain.
Authors:Dominika Milczarek-Andrzejewska, Agata Malak-Rawlikowska, Jan Fałkowski and Jerzy Wilkin
Recent research on dairy sector restructuring in Poland has been concentrated mainly on analysis conducted from the macro-level perspective, thus, although providing valuable insights, have come up with at most partial answer to the problem of the farm-level impact of supply chain restructuring More specifically, none of them has quantitatively analysed determinants of market channel choices of dairy farmers in Poland. They have not explored either the impact of market channel choice on farms’ financial situation. The main objective of the present research is to fill this gap. Furthermore, since there have been growing concerns related to potential negative impact that supply chain modernisation may have on small farmers’ access to the market, and thus on rural poverty, the analysis attempts to address the issue of smaller producers’ marginalisation.
The Case study elaborated in the paper deals with the mostly remote and also mostly famous tomato producing area in Russia: Astrakhan region, where smallholders absolutely dominate tomato production. The major markets for these tomatoes are traditionally located in the Centre of the European part of Russia and in the Northern territories. Local markets are narrow and do not provide sustainable incomes for the smallholders. There are several initiatives of the regional administration and local producers for facilitating marketing of fresh tomatoes and other vegetables and melons outside the region. In our Case study we concentrated on reactive private business model which allows inclusion both smallholder tomato producers as well as private truck drivers into tomato food chain.
This article intends to provide an analysis of evolving relations in the food chain and their impacts upon small farmers based on the research conducted in four countries in the framework of Regoverning Markets (RM) Project. Each country represents a specific path and level of development. Both Hungary and Poland are quite advanced in the concentration of the retail sector and food processing, while Bulgaria and Russia are less advanced in changing the vertical structure of food production. The results of research conducted in four countries are presented here in a shortened version. Conclusions in this summary reflect mainly the information gathered in the four countries and have to be treated with caution regarding the rest of the region.
Authors:B. Hámori, K. Szabó, A. Derecskei, H. Hurta and L. Tóth
The basic institutions and legal frames of a market economy were established quite quickly after the regime change in East-Central Europe, including Hungary. But there has been a much slower change in the behaviour of economic actors. The purpose of the research was to show the extent to which the competitive attitude and the cooperative behaviour both essential to market economies have developed in the nearly two decades since the regime change.* Are the actors in the economy capable of a positive response to the appearance of foreign competitors, or has the old, anti-competitive attitude still been prevailing? How is the behaviour of the competitors influenced by state intervention? The answers to these questions are based on 71 semi-structured interviews and on their comparison to the data of some international surveys. In the paper we were searching for links between the picture developing from the interviews and the age of the interviewees, the market position and the size of their firms.
This paper estimates the hybrid New-Keynesian Phillips curve (NKPC) for Hungary with different techniques. Because of weak instruments, single-equation GMM estimations yield very unreliable results. More robust methods show that basically no statistical inference is possible as to the true specification of the inflation dynamics. However, a more efficient simultaneous-equations method, the full information maximum likelihood (FIML) estimator provides identified parameters. Furthermore, coefficient estimates on the driving variable are positive and significant for the first time, lending much-needed empirical support in favour of the New-Keynesian model. Inflation appears to be determined to an equal extent by past inflation and forward-looking expectations. Structural analysis yields realistic estimates for the frequency of price adjustments and suggests that the dominant price setting behaviour is backward-looking.
Transforming the system of health insurance was on the reform agenda of the Hungarian government in 2007. Two alternative approaches were presented: to maintain the old state-owned single-payer scheme, or to introduce a multi-payer scheme based on the competition of private insurance companies. Finally a compromise was accepted. According to the draft legislation several insurance companies would enter, each of them based on a blend of public and private ownership.The paper presents a critique of this compromise scheme, discussing the advantages and shortcomings of various alternative approaches. It argues against mechanical, universal and too rapid changes, and advocates caution, experimentation and gradual changes.In spite of the warnings the law on health insurance reform was first accepted by the Hungarian Parliament, and then, a few months later, it was withdrawn.
This paper presents a small sample of the results Creatology has achieved during its first thirty years of existence from 1977 to 2007. The main chapters below deal with the short prehistory of Creatology, its paradigmatic framework and applications. The author’s ambition was first and foremost to outline the theoretical foundation, because pragmatic work in this domain is over-represented at the expense of losing even the theoretical minimum obligatory for any scientific enterprise. The article gives also descriptions of what it calls the “Big Bang” of Creatology and the mainstream view about creativity based on the generalized market structure.
The banking landscape in the USA has been shaped by various political and economic forces throughout the years, and the interaction between banks and the state has, in the case of Citibank, been particularly close. The role of globalization, the increased number of mergers and acquisitions in the banking sector in the USA have in the last decade clearly contributed to the blurring of frontiers between domestic and international boundaries in financial operations. Citigroup has managed to hold both a strong local consumer base and a wide international network, which is present on a number of emerging markets and even micro-finance development today. The study reveals that interactions between finance and politics have played a significant role in explaining the idiosyncrasy of the American banking landscape, but one may wonder whether finance could have, on the domestic political scene in the USA, managed to outweigh politics or rather to free itself from political considerations.
The contradictions in terms of justice and democracy in contemporary globalization have given rise to counter-movements that attempt to reassert control over economic forces. The rapid changes of our globalizing world also challenge conventional disciplinary academic approaches of analysis. Globalization generates forces of both fragmentation and integration. Globalization yields hybridization where existing forms and practices recombine into new forms and new practices. Structural hybridization can be observed in hybrid economic formations, in business regulation, and in public-private and private-private partnerships between business and society. It gives rise to a plurality of new mixed forms of cooperation and competition.
The study summarises the overall economic model of Hungarian economist Tibor Liska (1925–1994). The economic system of the model would be transcapitalistic inasmuch as being more self-regulating, through a “pure” market and unlimited competition, than capitalism as we know it. In this model, property is fully open to competition as gaining control over property in open competition is regarded as a fundamental human right. The model allows the state to have only regulatory functions, accordingly, a drastic reduction of the role of the public sector is needed. The self-controlled economy would also manage redistribution, education, environmental problems and all other socio-economic subsystems much more efficiently than present-day economies. The theory envisions a society without taxation, where all income is fully personal and all property (that is, means of production) is social but is in personal stewardship. The study outlines two subsystems of the model: those of social inheritance and personal social ownership. Finally it touches upon an attempt of putting the model into practice.
Authors:Péter Berkes, Mihály Nyerges and János Váczi
Hungarian soccer and sponsorship market is a relatively new and unexplored subject of research in the field of sports sponsorship in view of the fact that most studies have focused on the major European soccer leagues so far. This paper focuses on the Hungarian soccer sponsorship market, which gives a variety of comparisons to other studies (Chadwick — Thwaites 2005; Couvelaere — Richelieu 2005; Bühler 2006) on soccer sponsorship focusing on the major soccer markets. A comprehensive overview of current literature on sport sponsorship in general, and soccer sponsorship in particular provided the theoretical base for this study, revealing that this specific research theme has little empirical evidence. Two issues repeatedly brought up by researchers as being important are the sponsoring companies’ objectives, and measuring the return on investment. The main objective of this paper, focusing on the Hungarian soccer sponsorship market, is to evaluate the range of soccer sponsorship objectives and the range of evaluation tools that sponsors use to measure the effectiveness of their sponsorships. The representatives of sponsor companies (N = 103) were asked to rate the importance of sponsorship objectives and the importance of the evaluation techniques which are used to measure the effectiveness of their soccer sponsorships.
The article introduces an empirical research conducted at the European Commission that aimed to investigate the European Commission’s organisational culture and how that reflects national cultural diversity. In the comprehensive analysis of the organisational culture and human resources policies, a clear focus was given to examine how civil servants coming from diverse national cultural backgrounds act in this multicultural environment. The research intended to describe how the Commission’s organisational culture handles national cultural diversity and whether civil servants’ attitudes change in the supranational environment, gradually embodying an emerging European identity.
Economic development has always been primarily determined by the human factor, the so-called “human capital” improved by education. In the contemporary world economy characterized by asymmetrical interdependencies and the worldwide networking of transnational companies promoting globalization, the very position and economic development of countries depends also on those competitive advantages created by their governments and social actors, which imply favourable conditions for the rise locally, and/or the inflow from abroad, of transnational companies. Among such “created competitive advantages” the most decisive one is the availability of well-educated, skilled, innovative and disciplined manpower (whose productivity as compared to their wage cost is high enough for increase in profitability), and of local R&D capacities, so important for the transnational companies when choosing their “home base”. Consequently, investments in education and science are the most productive and profitable ones. The commodity pattern of trade is also shaped accordingly, while the type of specialization itself influences education and the dissemination of knowledge in the economy.
This paper evaluates the Economic Freedom of the World (EFW) Index on the basis of the Hayekian concept of freedom (Hayek 1960), more precisely on that of its conceptualisation in terms of the character of government actions developed in Kapás — Czeglédi (2007a). As a result of a detailed criticism, the components of the EFW index are regrouped in freedom-related, policy and other categories. Although the EFW index is not considered a good measure of economic freedom, its components and the index itself are used in empirical investigations. In these examinations the aim is to show that using freedom-related components of the EFW index (which is more in line with authors’ concept of economic freedom) instead of the index itself may lead to even more plausible propositions than those provided by the EFW index. The results provide support for this argument.
It is known that the simple Markov chain model overestimates the long run horizon mobility of the income distribution process. Dissolving the homogeneity assumption of the Markov model may lead to better forecasts. One generalisation of the Markov model, the Mover-Stayer model assumes heterogenous population: some units are moving according to a common Markov chain, but there are some (unknown) units that are not moving at all. They are called stayers.Based on the Frydman (1984) methodology if we compute both the Markov and Mover-Stayer models for Hungarian micro-regions income data, we find that the Mover-Stayer model fits better the regional relative income data than the simple Markov model. Using likelihood ratio test statistics we show that the difference is highly significant. The method is also applied for spatially conditioned data. The results show that the high persistence of relative income positions is a remarkable feature of the Hungarian economy in 1990–2003 both on a country-wide scale and local level. We also demonstrate that forecasts made on a less reliant model might lead to very ambiguous results.