Journal articles on the topic 'Economic stabilization – Hungary'
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1
Domonkos, Endre. "Economic Stabilization after the Treaty of Trianon: Challenges and Possibilities." Acta Universitatis Sapientiae, European and Regional Studies 19, no. 1 (November 1, 2021): 55–71. http://dx.doi.org/10.2478/auseur-2021-0004.
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Abstract The ‘Great War’ had harmful impacts on Hungary’s national economy. With the disintegration of the Austro-Hungarian Monarchy, the former self-sufficient economic unit broke into six different entities, which had far-reaching consequences in Central and Eastern Europe. Economic difficulties were further aggravated by rampant inflation. Finally, the loss of the majority of raw materials by the Treaty of Trianon meant that Hungary was cut off from its sources of supply. The following paper examines the impacts of economic reconstruction in Hungary. The analysis also focuses on the development of industry, agriculture, and trade in the 1920s.
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Shevchuk, Victor, and Roman Kopych. "Exchange Rate Volatility, Currency Misalignment, and Risk of Recession in the Central and Eastern European Countries." Risks 9, no. 5 (May 1, 2021): 82. http://dx.doi.org/10.3390/risks9050082.
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This study is aimed at estimation of the exchange rate volatility and its impact on the business cycle fluctuations in four central and eastern European countries (the Czech Republic, Hungary, Poland, and Romania). Exchange rate volatility is estimated with the EGARCH(1,1) model. It is found that exchange rate volatility is affected by the components of the Index of Economic Freedom from the Heritage Foundation, besides inflation and crisis developments. The empirical results using GMM estimation technique and comprehensive robustness checks suggest that exchange rate volatility reduces the risk of recession in the Czech Republic while the opposite effect is found for Hungary and Romania, with a neutrality for Poland. These findings continue to hold after controlling for the fiscal and monetary policy indicators. There is evidence that the RER undervaluation prevents sliding into a recession on a credible basis in Poland only, with a neutral stance for other countries. Except in Romania, higher levels of economic freedom is associated with worsening of the cyclical position of output. Among other results, stabilization policies in the recession imply fiscal tightening for the Czech Republic and Romania, higher money supply for the Czech Republic and Poland, and lower central bank reference rate for Hungary.
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Péterffy, Gergely. "Vasutasok és a szovjet megszállók." Belvedere Meridionale 31, no. 2 (2019): 43–62. http://dx.doi.org/10.14232/belv.2019.2.3.
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At the end of World War 2, it took more than a half year for the Red Army to occupy Hungary. Following the negotiations in Tehran and Yalta, Hungary joined the socialist camp led by Moscow. Therefore, thousands of cases of pillage, rape and murder committed by Soviet soldiers could not be articulated in the official historiography, Russian troops could only be mentioned in a positive context within any publication. After the collapse of the Soviet Union the above-mentioned policy on historiography changed, and several books, articles and reminiscences were published on the Soviet crimes against the population. The aim of this study is present the types of connection between the Russian soldiers and the railwaymen from the beginning of the occupation to the end of the monetary stabilization in 1946. In the first half of the 20th century, the railway was the backbone of Hungary’s economy. Without the railway – due to the lack of roads and automobiles – the economic system would have totally collapsed. The Russians were aware of the importance of the railway, hence as the front moved on, they ordered the citizens and railwaymen to reconstruct the railway tracks as fast as they could. To achieve a complex picture on the connection between soldiers and railwaymen, we need to focus on not only the negative, but the positive cases as well.
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Boromisza, Zsombor, Tamás Ács, and Éva Pádárné Török. "Integrating applied lake ecology into spatial planning: towards a socially acceptable lakeshore restoration at Lake Velence (Hungary)." Landscape & Environment 9, no. 1 (July 6, 2015): 27–41. http://dx.doi.org/10.21120/le/9/1/3.
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A good chance of a socially accepted shore-restoration that is sustainable for the long run stands only, if all those, concerned in lake-use, are also interested in the ecological interventions, if shore-restoration serves social and economic purposes, as well. In the previous phase of our research, assessments were made to find the sections of the shore zone that are suitable for restoration: to detect the sites where the existing artificial shoreline stabilization works could be removed. So that social demands should be involved in the assessment process, to begin with, structured interviews were made. According to the results, the share of the plots, being suitable or partially suitable for shore-restoration, slightly exceeded 7%. The analysis of restoration’s limiting factors has shown that the type of shoreline stabilization, the width of zone covered by emergent macrophytes, the extent of human pressures, and the relevant regulations on zoning (fixed in urban plans) together set limits to restoration. The interviews have made it clear that as a result of the changed demands on recreation-tourism, also the natural and landscape values have become more significant
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Yurasova, L. A. "THE POLITICS OF HUNGARIAN SOVEREIGHTY." MGIMO Review of International Relations, no. 4(49) (August 28, 2016): 99–116. http://dx.doi.org/10.24833/2071-8160-2016-4-49-99-116.
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The article analyzes main aspects of V. Orban's policy of strengthening Hungarian economic sovereignty. The Hungarian leadership had to find out balanced and reasonable approach to tackle the world economic crisis. Hungarian ballot package included reform of economic regulation on a state's level, taking moderate protectionist measures and foreign trade diversification. V. Orban's government succeeded in constitutional reform that allowed to consolidate power to deliver coherent economic policy and to harmonize separation of powers with that goal to be reached. Moreover, transferring of economic regulation to constitutional level lead to stabilization of monetary sphere. V. Orban's government enhanced state sector of economy in vulnerable areas, rose taxation on large business and shrank loans' burden of citizens in order to maintain positive economic growth. This measures ensured potential to advance further inside demand rates and to galvanize market capacity. Finally, V. Orban announced "openness to the East" policy aimed at diversifying foreign trade of Hungary. The main focus of the policy was trade with China and Russia. However, supranational authorities of European Union objected this policy goals on the grounds of economic and political consideration. But Hungarian leadership advocated its policy in a very tough way, which is a good example of self-reliance and pragmatism for the future of Europe.
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Gibb, R. A., and W. Z. Michalak. "Foreign Debt in the New East-Central Europe: A Threat to European Integration?" Environment and Planning C: Government and Policy 11, no. 1 (March 1993): 69–85. http://dx.doi.org/10.1068/c110069.
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East-Central Europe (Hungary, Poland, and Czechoslovakia—ECE) is one of the least known parts of the world in English-language geography. In spite of its proximity to Western Europe and the European Community (EC) it has received a very modest amount of attention from English-speaking geographers compared with that from German-speaking and French-speaking colleagues. Studies of political and economic geography of the ECE are also hampered by the lack of appropriate methodology and theory. Some of the most important issues involved lie in the economic sphere of transition from a centrally planned economy to a market economy. In the current paper, an attempt is made to survey and evaluate the size and character of existing debt stocks owed to the West by ECE and then to assess their likely impact on the political and economic geography of Europe and the EC. It is concluded that the international financial community is making it politically difficult for the countries in the region to persist with their structural reforms and stabilization policies. The future political and economic geography of ECE and EC depends, to a large extent, on the ability of the Western financial system to respond to the long-term needs of the region.
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Shemakhina, I. "SOCIO-ECONOMIC DEVELOPMENT OF POST-SOCIALIST COUNTRIES: CONTRADICTORY TRENDS AND CHALLENGES OF THE PRESENT." Bulletin of Taras Shevchenko National University of Kyiv. Economics, no. 218 (2022): 45–53. http://dx.doi.org/10.17721/1728-2667.2022/218-1/7.
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The article analyses the social and economic development of 14 post-socialist countries from 2001 to 2020. By assessing their clustering, a conclusion was made about the contradictory combination of two evolution tendencies of these countries: simultaneous deployment of processes of divergence, asymmetry of their social and economic development and deployment of convergence processes, and formation of separate clusters of the specified countries. In particular, the European Union member states, such as Estonia, Latvia, Lithuania, Poland, Slovakia, Slovenia, Bulgaria, Hungary, and the Czech Republic, formed a separate cluster in 2020, characterized by the highest GDP per capita in the group, the share of expenditure on education and the highest level of the spending on health care in GDP. A separate cluster was formed by Ukraine and Moldova, potential EU candidate countries. The place of Ukraine among the considered countries in the period 2001-2020 and in modern conditions was analyzed. It was concluded that the indicators of socio-economic development of Ukraine demonstrate cyclical dynamics under the influence of global factors and shocks, taking into account the turning point events for the whole world in 2022. It was noted that new world order is currently developing. There are new initiatives and concepts within the EU, which provide great opportunities for Ukraine for European integration. In this context, the institutional factors of convergent and divergent development of post-socialist countries, which will be aimed at resolving the existing military and political conflicts, settlement of global imbalances, stabilization of world economic development, have an essential role.
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Bai, Attila. "Economic Assessment of Biodiesel Production for Hungarian Farmers." Acta Agraria Debreceniensis, no. 1 (May 12, 2002): 72–76. http://dx.doi.org/10.34101/actaagrar/1/3540.
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Utilisation of oil of plant origin as a fuel is gaining acceptance in the European Union and elsewhere. Besides environmental protection, energy saving, and decreasing over-production of food. Additionally, the subsidisation of farmers and the development of rural sub-regions also contribute to its spread. This study specifically focuses on the direct effects biodiesel's raw materials and final products are now having on farmers, while reviewing and quantifying these effects. I have purposely restricted my analysis to these two elements of the biodiesel chain.The biodiesel chain seems to be a great method for improving the economic and social position of participant farmers in many ways. Presently, the profitability of raw materials’ production looks to be the crucal point in the chain, and could be strengthened best with intensive, habitat-specific agrotechnic. It would only be possible to reach a favourable profit margin for farmers if yields reach unrealistic averages or if there is a significant hike of the 2000 producer’s price in the oil plant branch.The main attraction of sunflower- and oilseed rape production lies in the stabilization of market conditions, which is not only gong to appear in oil plant branch but – thanks to the reduction of outputs – also in the cereal branches. Better economic safety for farmers may play a role at least on the same level as in plant production, which involves more risks than profit maximalization.The reduction of the prime cost of biodiesel could be possible through the direct combustion of the whole oilseed plant or its residues or electricity production using them. Whereas energy demand for biodiesel production is low (appr. 5%) but it needs subsidization and the prices of natural gas and electrical energy presently look favourable in Hungary. Additionally harvesting and baling of the residues is technically problematic, which is why their use may seem to be reasonable just over the middle or long term. Another possible factor of cost reduction could be the centralization of some partial operations, which needs serious financial resources to reduce amortization cost per product, provided there be several biodiesel projects near each other during establishment. Creation and operation of a logistical system could also be a good method for improving the viability of the biodiesel chain, in order to optimize transport schedule and distances. However there are also some organizational difficulties in this case.
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Ujváry, Gábor. "Klebelsberg Kunó kulturális politikája és a felsőoktatás." Gerundium 9, no. 3 (March 18, 2019): 102–26. http://dx.doi.org/10.29116/gerundium/2018/3/7.
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The Cultural Policy of Kuno Klebelsberg and the Higher Education. The study presents the higher education policy of one of the best known and succesful Hungarian Minister of Religion and Education (1922–1931) Kuno Klebelsberg (1875–1932). As a politician of a state dismembered to one third of her original size-a consequence of the war loss and the Trianon peace treaty-he became a minister in miserable economic circumstances. With the contribution of him the stabilization of so-called refugee universities (from Kolozsvár and Pozsony to Budapest and then to Szeged [1921] and to Pécs [1923], the Academy of Minery and Forestry from Selmecbánya to Sopron [1918–1919]) could succesfuly be managed. Because of his conservative-liberal political attitude he tried to ease the effects of the so-called Numerus clausus Acts of 1920 which made the university entrance for Jewish Hungarians extremely serious. In 1928 he achieved the modification of that regulation. Instead of Budapest he supported the development of universities of Debrecen, Szeged and Pécs as a consequence of his well-grounded education policy based on decentralization. With his higher education policy he made great contribution to preserve the pre Great War Hungarian higher educational capacity in a dismembered Hungary lost 60% of her original population.
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Szyszko, Magdalena, and Mariusz Próchniak. "Is Central Banks’ Effectiveness Related to their Transparency? A Case of European Economies." Folia Oeconomica Stetinensia 18, no. 2 (December 1, 2018): 121–43. http://dx.doi.org/10.2478/foli-2018-0023.
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Abstract This article presents a novel transparency measure and examines forward-looking transparency of six European central banks. It aims at evaluating whether the higher degree of transparency is related to better economic stabilization expressed in terms of output and inflation gap minimization. The methods used are based on data and a statistical analysis. To extract the cyclical component of time series, the Hodrick-Prescott filter is employed. The research covers the Czech National Bank, the National Bank of Hungary, the National Bank of Poland, the National Bank of Romania, the Bank of England, and the Sveriges Riksbank during 1997–2016. Firstly, we develop an index of forward-looking transparency that focuses on signalling intentions by the central banks. It is one of the main contributions of our article. Secondly, we compare transparency in the field of signaling intentions within our sample, which is another aspect of originality of this study. The results indicate that the Czech National Bank and the central banks of developed economies outperform the other central banks from our sample in terms of openness. Finally, under some caveats, we relate the degree of transparency to the levels and volatility of output and inflation gaps. We find the existence of the relationship between the central banks’ transparency and their effectiveness mainly for Czech Republic and the UK, but also, although to a lesser extent, for Poland and Romania.
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Eaton, Stephen T., and Pierre L. Siklos. "War Finance, Reconstruction, Hyperinflation and Stabilization in Hungary, 1938-48." Canadian Journal of Economics 26, no. 1 (February 1993): 246. http://dx.doi.org/10.2307/135859.
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Usievich, M. "The Results of Macroeconomic Stabilization in Hungary, 1995-1998." World Economy and International Relations, no. 3 (1999): 84–85. http://dx.doi.org/10.20542/0131-2227-1999-3-84-85.
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Csillag, István, Péter Mihályi, and Josef C. Brada. "Last Chance: An Eighteen-Month Program for Stabilization and Reforms in Hungary." Eastern European Economics 44, no. 6 (December 2006): 3–100. http://dx.doi.org/10.2753/eee0012-8775440600.
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Elekes, Edit. "The conditions of security in sustainable rural economics." Applied Studies in Agribusiness and Commerce 8, no. 1 (August 31, 2014): 51–57. http://dx.doi.org/10.19041/apstract/2014/1/6.
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This work aims to map the potentials of safe rural economy. This topic cannot be separated from the processes of globalization and localization, affecting each other, whose positive and negative effects have been focussed on, especially in terms of the protection of security and sustainability or their damaging. In Hungary, sustainable rural economy cannot be achieved only by the rural economy’s systematic stabilization but its present structure and the security system, accompanying the process, also needs to undergo some drastic changes. Sustainable rural economy means a modern economy that aims to keep the rural inhabitants while increases the wealth of the whole society. The legal security of the sustainable local economy is guaranteed by the state in Hungary. The security of the rural areas is provided by the police as an armed force, the auxiliary police, the public place supervision, the local agricultural rangers, the environment wardens, and by the fish- and game-keepers. The Police Act allows cooperation with the further organizations of the society to preserve public order, and to protect property and prevent and detect crimes. The purpose of my thesis is to present security as one of the most important factors to improve the rural areas. I also aim to map the possibilities of improving security (such as cooperation, naming the resources assisting strategic tenders and participation in rural development programs).
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Alm, J., and R. M. Buckley. "Decentralization, Privatization, and the Solvency of Local Governments in Reforming Economies: The Case of Budapest." Environment and Planning C: Government and Policy 12, no. 3 (September 1994): 333–46. http://dx.doi.org/10.1068/c120333.
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In many reforming socialist economics like Hungary, the ownership of previously state-owned assets has been transferred to local governments as part of the decentralization and privatization reforms. The authors discuss these recent reforms in Budapest, and examine their impact on the solvency of local governments there. The analysis suggests that a continuation of the current pricing policies now in place in Budapest will pose serious long-run solvency problems for the new local governments that have been given ownership of the assets, effectively decapitalizing many of them. Even so, the privatization is unlikely to lead to a change in these pricing policies, and it may well lead the local governments to undertake actions that adversely affect the broader stabilization program.
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Pieloch-Babiarz, Aleksandra, Anna Misztal, and Magdalena Kowalska. "An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries." Environment, Development and Sustainability, September 25, 2020. http://dx.doi.org/10.1007/s10668-020-00988-4.
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Abstract Sustainable development is a socioeconomic development that respects environmental protection. It can be analyzed at a macro- and microscale. The goals of sustainable development are realized by ordinary people, politicians, organizations, and enterprises. At the enterprise level, sustainable development means an improvement in quantitative and qualitative conditions of running a business, the use of pro-ecological standards and solutions, and support of employee development. The sustainable development of enterprises depends on several factors, including macroeconomic conditions. The main aim of this paper is to show the impact of the macroeconomic stabilization on the sustainable development of the manufacturing enterprises in the Central and Eastern European Countries (CEECs). We examine only the CEECs which are the members of the European Union. Considering this, we focus on the eleven counties (i.e., Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia) in the period from 2008 to 2018. The main hypothesis is formulated as follows: Macroeconomic stabilization has a statistically significant impact on the sustainable development of manufacturing enterprises in the period from 2008 to 2018. The results of the study indicate that in all analyzed countries there is a statistically significant relationship between the indicator of sustainable development (SISDE) and the indicator of macroeconomic stabilization. The highest level of correlation was observed in Czechia, Poland, and Hungary, while the lowest in Estonia.
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Liashenko, Oksana, Olga Demianiuk, and Anastasiia Kovalchuk. "EVALUATION OF THE WORLD FOOD PRICES’ DYNAMICS BY ECONOMETRIC MODELLING AND FORECASTING METHODS." Eastern Europe: economy, business and management, no. 6(33) (2021). http://dx.doi.org/10.32782/easterneurope.33-38.
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In today's global challenges, the food problem of providing the population with sufficient food is one of the most important problems of mankind. At the present stage, the food problem is caused primarily by excessive use of natural resources and increased food consumption, resulting in a constant rise in food prices, which threatens food security in low-income countries, as well as the poorest. in developed and developing countries. The article examines fluctuations in world food prices during 2000-2021 using economic and mathematical modelling. The analysis is based on the FAO Food Price Index, as an important indicator of the world food prices dynamics and tracks changes in the value of the world food basket. The article aims to develop an analytical approach to estimating the dynamics of world food prices based on the use of modern methods and information technologies of econometric data analysis and modelling. To model, the cyclical dynamics of food prices in the world, time series analysis utilizing software STATISTICA 12 on official monthly data of the food consumer price index have been used. Developed ARIMA (0,0,4)(2,0,0) gave the possibility to analyze the dynamics of the food consumer price index in the world during 2000-2020 and to explore three large cycles of fluctuations of the consumer price index during the studied period, which were connected, first of all, with the crisis phenomena in the world development. Significant reductions have been observed in the pre-crisis periods 2007, 2010, 2018, respectively, and the highest peaks were reached just in periods of crisis exacerbation (2008, 2012-2013, 2021). By using the ARIMA model, the behaviour of the consumer food price index in the world for the next 3 years is predicted. It was found that in the forecast period would be cyclical fluctuations in the food consumer price index with an amplitude smaller than in 2018-2020, which indicates a partial stabilization of prices for basic food products in the world. Forecasting of fluctuations in world food prices will help regulate food security in densely populated, low-income regions suffering from hunger, as well as the poorest sections of the population in developed and developing countries to prevent food shortages and exacerbate hunger in these regions.
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Mazur, Viktor, Kateryna Mazur, and Hanna Pantsyreva. "PRODUCTION AND EXPORT OF CEREALS AND LEGUMES UNDER THE CONDITIONS OF THE MILITARY." Agriculture and Forestry, September 30, 2022, 66–76. http://dx.doi.org/10.37128/2707-5826-2022-3-5.
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The full-scale war that the russian federation has unleashed against Ukraine has caused a humanitarian and economic catastrophe that is spreading beyond our country. One of the most tragic consequences of this war is the strengthening of the global problem of hunger. The article examines the state and prospects of grain export from Ukraine to foreign markets according to the data of the Ministry of Agrarian Policy and Food of Ukraine during martial law. The main volume of supplies of grain and leguminous crops during the 2022 marketing year has been determined. Based on the analysis of the received data, it was established that the war in Ukraine caused the stoppage or damage of many domestic agricultural enterprises. It was determined that significant negatives were created in the logistics of their supply, both within the country and abroad. The impact of russian aggression on the prospects of supplying Ukrainian grain to the global and domestic food market is proven. A well-founded assumption is made that, as a result of military actions, the reduction of the export of Ukrainian grain products causes an unprecedented increase in food prices on the world market and the aggravation of the global problem of hunger in the world. However, the actual food reserves and planned volumes of agricultural production of our state are sufficient to provide the population with grain. It is noted that the restoration of domestic exports, as in pre-war times, in the proper volume is possible only under the condition of a complete cessation of hostilities, since the possibilities of logistics of transport communications on land routes are insignificant. The relevance of the researched data is reinforced by the implementation of an applied study carried out at the Faculty of Agronomy and Forestry of the Vinnytsia National Agrarian University at the expense of the state budget on the topic: «Development of methods for improving the technology of growing legumes using biofertilizers, bacterial preparations, foliar feeding and physiologically active substances» (state registration number 0120U102034). A system for the purchase of alternative fertilizers is proposed, which will stimulate income to local budgets due to the additional expansion of the production of recommended biological preparations by regional farms. This, in turn, will stimulate the creation of additional jobs in the field of biological support, increase the overall ecological orientation of cultivation technologies and ensure the ecological stability of agricultural territories. This event will contribute to the effective European integration of Ukraine and the general improvement of the quality of the grown products, which will meet world standards in the field of organic and biological agriculture. Ultimately, this will contribute to the successful processes of stabilization of agricultural production in the post-war period and will guarantee obtaining appropriate levels of production at significantly lower levels of costs.