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sketch some of the recent political developments in Hungary and Poland ( Section 3 ). This leads into an analysis of the rule of law, the nature of the state, and Parliament and the Executive (Sections 4 and 5). Section 6 pulls the main findings together

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Carothers T. (1998): The Rule of Law Revival. Foreign Affairs 77(2). Carothers T. The Rule of Law Revival Foreign Affairs 1998

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Bingham, T. (2011): The Rule of Law . New York: Penguin Books. Bingham T. The Rule of Law

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.3.2015. Bugaric , B. ( 2014 ): Protecting Democracy and the Rule of Law in the European Union: The Hungarian Challenge . LSE ‘Europe in Question’ Discussion Paper Series , LEQS Paper No. 79/2014. Accessed 28.1.2015. http

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. ( 2004 ): Paper delivered at the Conference ‘Economic Reform, New Politics, the Rule of Law and Social Justice’ , November 2004, Bogazici University, Istanbul. Hsing , Y

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At the onset of the mass protests in 2010–2011, many politicians and experts suggested that Arab countries could learn from the experiences of the post-communist transition of the early 1990s. However, the geopolitical, historical, and socio-economic context of the Arab transition was different in many respects from that of the former Soviet bloc countries 20 years earlier. These differences became even more obvious five years later, in early 2016, when most Arab transition attempts ended either in a new wave of authoritarianism, or protracted bloody conflicts. Nonetheless, there are some common lessons to be learnt from the history of both transitions. They concern interrelations between the political and economic transition, the role of institutional checks and balances and the rule of law, the speed of reforms, the dangers of ethnic and sectarian conflicts, and the role of external support.

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We tested the hypothesis of the political basis for economic rights and constructed our own variables of political regimes’ classification for the years 1820–2000. We found significant positive interdependencies between democracy indicators and economic growth. The protection of private property rights requires, first and foremost, due guarantees for personal immunity. Discretionary arrests and property seizures undermine any formal guarantees of private property, low taxation benefits, etc. Personal immunity should be defended even for “unpleasant” persons or for the possible political opponents of the country’s ruler.

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We compare the pre- and post-2010 Hungarian political regimes through the lens of pension policies. We label the pre-2010 regime as democratic populist because it was characterized by fiscally irresponsible policies, yet it maintained the system of checks and balances and the rule of law. In contrast, we call the post-2010 regime authoritarian populist as it has employed authoritarian political techniques while maintained popular legitimation through regular elections. To substantiate the difference between the two periods from an economic viewpoint, we compare pre- and post-2010 pension policies to find important differences as well as surprising similarities. In particular, we analysed the following five policy aspects: (a) reform and partial privatization of the government-run pension system, (b) policies on the statutory (normal) and the effective (average) pension age, (c) indexation, (d) progression in benefits calculations and progressivity in the personal income tax, and (e) contribution rates. Based on ideological preferences, we argue that one would expect the pension system to become financially more sustainable but less redistributive after 2010 in comparison to the preceding period. Yet, we find that although pro-poor redistribution through the pension system has indeed been curtailed, fiscal sustainability has not improved due to the erratic policies.

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Acta Oeconomica
Authors: Miklós Somai and Zsuzsánna Biedermann

This paper reviews the deeper societal and economic reasons behind the British choice of leaving the European Union. We address the detailed results of the referendum and the long-standing sceptical British attitude towards European integration; next, we analyse the net budgetary contribution that changed enormously after the Eastern Enlargement. It is argued that the rise in the immigrantnative ratio had a significant impact on employee’s pay level in certain areas, therefore pro-Brexit campaigners highlighted migration as one of the major problems arising from EU membership. Increasing income and wealth inequalities and a growing anti-elite sentiment in British society, coupled with the negative image of Brussels bureaucrats and a British approach to the rule of law that is fundamentally different from the continental one, also contributed to the final result of the referendum. Our analysis ends with a glimpse into the close future, emphasising that the future of British-EU relations depends wholly on the pragmatism and wisdom of the negotiating parties.

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This study examines the determinant of non-life insurance consumption in 14 countries of Central and South-Eastern Europe between 1995 and 2010 within a vector error correction model (VECM). We use non-life insurance penetration as a measure for non-life insurance consumption. Empirical results provide evidence that the number of dwellings and number of passenger cars positively and significantly influence non-life insurance consumption in the long run, while the existence of the rule of law and EU membership are significant in the short run.

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