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The free movement of persons has been one of the fundamental building blocks of European integration from the beginning. The economics behind it implies that greater efficiency can be achieved if besides goods and services, the factors of production (i.e. capital and labour) can also move freely across a common market. Nevertheless, this setup was originally designed for an economic area where internal imbalances were modest. In fact, these freedoms have serious, originally unintended consequences in the 21st-century European Union (EU) where the original condition, even if implicit at that time, no longer applies. Nicholas Kaldor had actually warned about these threats many decades ago, saying that with the development of trade, initial differences among trading regions would grow in the absence of adequate compensating policies. Most lately, two large-scale events have accelerated intra-EU divergence and, consequently, migration: the Eastern enlargements and the recent financial and economic crisis. Our study focuses on the causes and potential implications of the intra-EU migration challenge in the light of Kaldor’s legacy. Our main conclusion is that the original construct of European economic integration is not fit for the current realities in that it no longer ensures steady and balanced development across the EU.

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Acta Oeconomica
Authors:
Anita Pelle
and
Gábor Vicze

Von Neumann's Centenary Scientific Memorial Session; Conference report on the workshop convened in Budapest on 15 November 2003 to commemorate John von Neumann's contributions to economics; From Here and From There: New and Old Members' Perception on EU Enlargement; Report on the joint workshop of Hungarian and Holland economists on EU-enlargement at the University of Groningen, the Netherlands in September 2003.

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Acta Oeconomica
Authors:
Anita Pelle
and
László Jankovics

(1) The Halle Insitute for Economic Research (Institut für Wirtschaftsforschung Halle, IWH) in cooperation with the European University Viadrina, Frankfurt an der Oder held a conference on 13-14 May 2004 in Halle (Saale), Germany on Continuity and Change of Foreign Direct Investments in Central Eastern Europe. (Reviewed by Anita Pelle); (2) The University of Debrecen, Faculty of Economics and Business Administration in cooperation with the Regional Committee of the Hungarian Academy of Sciences and the Hungarian Economic Association organised an international symposium on the issue of Globalisation: Challenge or Threat for Emerging Economies on 29 April 2004 in Debrecen, Hungary. (Reviewed by László Jankovics)

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Acta Oeconomica
Authors:
Pál Czeglédi
and
Anita Pelle
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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
Acta Oeconomica
Authors:
Anita Pelle
,
Gyöngyi Csuka
,
Bernadett Kovács
, and
Mihály Szívós
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Abstract

The Varieties of Capitalism (VoC) literature has recently manifested a dynamic development. Among others, the member states of the European Union (EU) have been studied extensively from this viewpoint, and main capitalism models have been identified. Yet, the global financial and economic crisis and its aftermath in Europe have impacted the member states' economies, typically in asymmetric ways and, in 2020, a highly diverse EU faced the COVID-19 induced economic crisis.

Our study investigates the EU member states from a perspective different from the existing research on VoC in Europe: our starting point is the macroeconomic decomposition of GDP. Our findings draw up a categorisation somewhat different from the previous results: while the core of the EU is rather consistent and homogenous, clusters of the periphery do not fully coincide with geography and earlier typisations; there are also single outliers and ‘New tigers of Europe’ emerging. Nevertheless, the core-periphery divide still stands overall.

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