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Journal articles on the topic 'Hungarian Central Bank'
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1
Lentner, Csaba, and Sándor J. Zsarnóczai. "Some Aspects of Fiscal and Monetary Tools of the Environmental Sustainability : Through the Case of Hungary." Public Governance, Administration and Finances Law Review 7, no. 1 (October 28, 2022): 63–76. http://dx.doi.org/10.53116/pgaflr.2022.1.5.
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On the one hand, economic sustainability depends on an environmentally friendly and energy-saving economy, though it rather means the continuous functioning of businesses and the national economy, which is expressed in the balance of accounting, foreign trade and budget balances. On the regulatory side, monetary policy, alongside fiscal policy, serves ensuring economic sustainability, as the main objective of central banks is to ensure price stability and maintain financial equilibrium to underpin continued economic activity. However, in our energy crisis-ridden world, there is an increasing emphasis on energy-efficient, environmentally friendly management. The focus of our study is on the environmental sustainability context of Hungarian fiscal and central bank tools, with a particular focus on the legislative and programmatic elements of the green economy development of the Magyar Nemzeti Bank (Hungarian National Bank, hereinafter: MNB).
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Pfeffer, Zsolt. "A bankjegyektől a jegybankokig." DÍKÉ 7, no. 1 (August 22, 2023): 98–116. http://dx.doi.org/10.15170/dike.2023.07.01.09.
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In the 17-18th century, during the process of civil transformations, starting from the economic policy based on the era of absolutism, the first central bank regulations appeared in Europe. Mainly the disorganization and crisis of public finances and the need to finance various wars led governments to establish central banks and to provide central banking functions to privately owned banks. The most important issues included the regulation of banknote issuance and legal tender, the management of state funds, the financing of the state debt, as well as the relationship with the state, in other words, the content of central bank independence. Each country followed different paths, and accordingly, the classic and the Prussian models of central bank development can be described based on the different legislative steps. The study presents the main characteristics through the English, German, French, American and Hungarian examples, primarily by characterizing the legislative peculiarities and illuminating the political historical background by applying the methods of comparative law.
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Müller, János, and Ádám Kerényi. "The Rise of Central Bank Digital Currencies." Financial and Economic Review 21, no. 3 (2022): 122–48. http://dx.doi.org/10.33893/fer.21.3.122.
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The revolutionary rise of digital financial innovations has heralded a new era in the operation of the banking system and central banks, which has brought about the digital transformation of money. Central banks must respond to challenges profoundly affecting and transforming the financial system. Central banks have been exploring the introduction of central bank digital currency (CBDC), in order to promote stability and sustainable development, to preserve competitiveness and to bolster the effectiveness of their monetary policies. In addition to smooth operation, the preservation of sovereignty and the effectiveness of the monetary policy also need to be ensured. Along with its expected advantages, the paper also discusses the risks relating to CBDC. CBDC appears in the international financial system, generating competition among global currencies. The rivalry between the dollar, the euro and the yuan may alter positions in the global financial system. A rearrangement of international power relations is at stake. Against this background, the paper also provides insight into Hungarian news on preparations for the introduction of CBDC.
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Domány, Gyula. "A magyar jegybank." Közgazdasági Szemle 71, no. 6 (June 9, 2024): 585–603. http://dx.doi.org/10.18414/ksz.2024.6.585.
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It was almost exactly one hundred years ago, on 24 June, 1924, that Hungary’s independent central bank, the National Bank of Hungary, began its operations. Our editorial staff commemorates this anniversary by republishing a lecture given by one of the most eminent financial economists of the time, Gyula Domány, at the Hungarian Economic Society before the adoption of the law on the central bank. In our view, the article is worthy of attention not only from an economic history point of view, as many of its conclusions provide important lessons for today.
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Balogh, András, Zsolt Kuti, and Annamária Sipos-Madarász. "The Recent History of Hungarian Monetary Policy and Future Challenges for Central Banks." Financial and Economic Review 23, no. 2 (2024): 5–30. http://dx.doi.org/10.33893/fer.23.2.5.
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The role of central banks in shaping economic processes has been a key issue since their existence. This has typically always been related to the challenges faced by monetary policy decision makers at the time, and from the 2000s onwards even more so in the decade in question. In our essay, we focus primarily on the challenges facing Hungarian monetary policy, briefly outlining the developments in the past decades and elaborating on the challenges ahead. In the longer term, as a small, open economy, Hungary must respond to the prevailing and often interconnected international megatrends of the decade, assessing which of these developments represent challenges and which of these provide opportunities for the Magyar Nemzeti Bank to solve the challenges. In an era of geopolitical change, the green transition, demographic change, high debt levels and digitalisation, one thing is certain: central banks cannot lose sight of their primary objective of ensuring price stability.
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Merész, Gabriella, Norbert Holczinger, and Koppány Nagy. "Methodological Background of the New Motor Third-Party Liability Insurance Index of the Magyar Nemzeti Bank." Financial and Economic Review 20, no. 3 (2021): 59–79. http://dx.doi.org/10.33893/fer.20.3.5979.
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In order to provide an accurate description of developments in the Hungarian motor third-party liability insurance (MTPL) market, as well as to inform the public and stimulate competition, the Magyar Nemzeti Bank (the Central Bank of Hungary, MNB) has elaborated an index to indicate the MTPL premium level. The method offers a comprehensive picture of changes in average premiums, as it uses data from the central itemised MTPL database to cover not only the population switching insurers but also remaining contracts and new entrants. It reduces bias due to seasonal effects and trends by eliminating changes in the stock composition. It can also illustrate how much the premium has changed in relation to the change in the magnitude of claims, taking into account the estimated average change in claims. In our study, we present the statistical and methodological considerations used in the calculation of the MTPL index and describe the relevant characteristics of Hungarian MTPLs.
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Máté, Ákos, Miklós Sebők, and Tamás Barczikay. "The effect of central bank communication on sovereign bond yields: The case of Hungary." PLOS ONE 16, no. 2 (February 4, 2021): e0245515. http://dx.doi.org/10.1371/journal.pone.0245515.
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In this article we investigate how the public communication of the Hungarian Central Bank’s Monetary Council (MC) affects Hungarian sovereign bond yields. This research ties into the advances made in the financial and political economy literature which rely on extensive textual data and quantitative text analysis tools. While prior research demonstrated that forward guidance, in the form of council meeting minutes or press releases can be used as predictors of rate decisions, we are interested in whether they are able to directly influence asset returns as well. In order to capture the effect of central bank communication, we measure the latent hawkish or dovish sentiment of MC press releases from 2005 to 2019 by applying a sentiment dictionary, a staple in the text mining toolkit. Our results show that central bank forward guidance has an intra-year effect on bond yields. However, the hawkish or dovish sentiment of press releases has no impact on maturities of one year or longer where the policy rate proves to be the most important explanatory variable. Our research also contributes to the literature by applying a specialized dictionary to monetary policy as well as broadening the discussion by analyzing a case from the non-eurozone Central-Eastern region of the European Union.
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Ostojic, Sinisa. "Models of restructuring banking systems in economies in transition." Privredna izgradnja 45, no. 3-4 (2002): 201–24. http://dx.doi.org/10.2298/priz0203201o.
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In view of the still underdeveloped capital market in Central and Eastern Europe, modernizing enterprises particularly depends on a functioning banking sector. Due to the interdependence enterprises and banks the insolvency of individual enterprises set off chain reactions which resulted in the collapse of banks and shook the banking systems in some countries. Commercial banks were particularly susceptible to these developments since the ratio between their own fluids and enough experience in reorganizing enterprises nor business perspectives for the enterprises depending on them. In the past years the individual states have made different degrees of progress in reorganizing their commercial banks. Two policy patterns become manifest: Estonia very consistently closed insolvent banks and opened markets for foreign banks and newly developing private banks. Thus the Estonia state considerably reduced its own share in the banks. Latvia also tried to increase its banks orientation towards profitability by opening the market and reducing state shares. The other countries, by contrast, primarily improved capital endowment of the existing banks. Between 1992 and 1995 Polish, Hungarian and Slovene governments realized extensive recapitalisation. While Poland increased the registered capital of important commercial banks, the Slovene and the Hungarian governments also bought nonperforming loans from the banks for state bonds. Hungary then increased the registered capital of the big state-owned banks. In 1994. and 1995. respectively partial recapitalisation took place in Bulgaria and the Czech Republic. Neither Latvia nor Bulgaria nor Lithuania have until now succeeded in stabilizing their banking systems. In the Czech Republic which similar to Estonia opened the market, leading to the emergence of about 60 banks, the central bank has hitherto intervened in 12 banks facing liquidity problems or insolvency. In the Slovak Republic a far-reaching consolidation of banks is also still due. The governments in Bulgaria and Lithuania presently intend to increase the banks capital by state bonds, while the Latvian central bank refrained from direct intervention after the collapse of Banks Baltija and only intensified control of the banks activities.
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Király, Júlia. "Pieces of a puzzle (A concise monetary history of the 2008 Hungarian financial crisis)." Acta Oeconomica 68, s2 (December 2018): 143–63. http://dx.doi.org/10.1556/032.2018.68.s2.7.
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In 2008, Hungary was heavily hit by the global financial crisis, and had to turn to the IMF among the first. The paper analyses the road leading to the post-Lehman liquidity crisis from the point of view of Magyar Nemzeti Bank (MNB), the central bank of Hungary. Based on the minutes and the press releases* of the Monetary Council (MC), a comprehensive account is given why the puzzle was put together too late.
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Bécsi, Attila, Gergely Bognár, and Máté Lóga. "The Growing Importance of the Economic Role of the Corporate Bond Market." Financial and Economic Review 20, no. 4 (2021): 5–37. http://dx.doi.org/10.33893/fer.20.4.537.
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The role of corporate bonds has expanded globally in the past decade, as they are an ideal financial instrument both for diversifying the liability structure of issuing companies and managing investors’ portfolios. An adequately developed, liquid corporate bond market has a beneficial effect on the functioning and transparency of the market mechanisms of the economy and can also strengthen the crisis resilience of the financial system. Several studies have shown that – in addition to the normal functioning of companies – the issue of corporate financing is also important in crisis management, as uncertainty during a crisis has a negative impact on the liquidity of bank lending, limiting companies’ funding options. In such a situation, it is therefore vital that companies can also rely on other forms of financing. Recognising this in the aftermath of the 2008–2009 economic crisis, central banks in a number of countries launched bond purchase programmes in order to start supporting the expansion of the corporate bond market. Thanks to the Bond Funding for Growth Scheme (BFGS) of the Magyar Nemzeti Bank (the Central Bank of Hungary, MNB), the Hungarian corporate bond market now offers a realistic financing alternative to bank loans for a wide range of companies.
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Kandrács, Csaba. "Financing a Sustainable Economy in Hungary, Opportunities and Challenges: Decarbonisation, Green Transition, Sustainable Finance, Central Bank." Pénzügyi Szemle = Public Finance Quarterly 69, no. 1 (2023): 29–45. http://dx.doi.org/10.35551/pfq_2023_1_2.
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Today’s prolonged crisis situations, such as the Covid-19 pandemic, the Russian-Ukrainian conflict, and the energy and climate crisis call for climate neutrality in Hungary, although they make transition difficult in the short term. A number of studies suggest that Hungary will be able to reach the target by 2050 at the latest, and that the benefits, on the whole, will outweigh the macroeconomic sacrifices. Nevertheless, green transition, including the Hungarian economy, requires a huge amount of investment and financing, which makes it necessary to involve the private sector, and which central banks can assist effectively. Fortunately, a variety of solutions to finance green and sustainable investments have emerged recently, although we are still at the beginning of the process. The Central Bank of Hungary (Magyar Nemzeti Bank, MNB) has taken a number of measures – and is planning to take further ones – to promote green finance in Hungary, which, in addition to the development of a sustainable financial system will contribute to Hungary’s transition to an environmentally sustainable economy.
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Türk, Attila. "New Results and Ideas of the Archaeological Research on Early Hungarian History in the Eurasian Context." Povolzhskaya Arkheologiya (The Volga River Region Archaeology) 1, no. 47 (March 29, 2024): 234–47. http://dx.doi.org/10.24852/pa2024.1.47.234.247.
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As Early Hungarian history is a resource-poor research area, archaeology, a field of science with rapidly increasing resource material, is of paramount importance. It is important to emphasize that in the case of archaeology, there is also a significant expansion in research methods, mainly thanks to the bioarchaeological studies that have started with great momentum. In recent years, the most significant archaeological results of Early Hungarian history were the explosive increase in the number of Subbotsi-type sites associated with Etelköz accommodations in the region of the Dniester River. There are now 10–12 sites along the central flow of the Dnieper River. The relations with the neighbouring areas, mainly with the northern, Slavic regions, and with the Byzantine culture in Crimea are well reflected here. In addition to the chronology of the material, its nature is also explicitly consistent with the image drawn by Muslim sources of the 9th-century ancestors of the Hungarians. Further to the east, the Volga elbow in Samara and the wider area of the Southern Urals remain the ones that show the most connections regarding Hungarian ethnic genesis. As a working hypothesis, we can say that the earliest archaeological traces of the ancestors of the Hungarians can be assumed east of the Ural Mountains, in the eastern neighbourhood of the Ural region of Chelyabinsk. A group of people here presumably set off westwards in the early 9th century. In a short time, this community appeared on the left bank of the Volga, and its accommodation area extended to the border of Volga Bulgaria. After that, part of it remained along the Kama River. The other group migrated westwards before the 830s, and settled in the northern foreland of the Black Sea.
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Piasecki, Marcin A. "Was Viktor Orbán’s Unorthodox Economic Policy the Right Answer to Hungary’s Economic Misfortunes?" International Journal of Management and Economics 46, no. 1 (June 1, 2015): 41–71. http://dx.doi.org/10.1515/ijme-2015-0021.
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Abstract This paper assesses whether the unorthodox policies implemented in Hungary since 2010 were, given a four-year perspective, the right answer to Hungarian economic problems. The paper draws on findings from the author’s August and November 2014 study trips to Hungary, during which Hungarian government officials and scholars from Budapest University of Technology and Economics were interviewed. These findings were supplemented by publications and data from Eurostat and World Bank databases. Statistical data from May 2015 demonstrate that significant improvements took place in most (if not all) areas of the Hungarian economy since 2010. The country avoided bankruptcy and its 2014 GDP growth outpaced that of the Czech Republic and Poland. Viktor Orbán’s economic reforms therefore seem to have been the appropriate response to the Hungary’s economic misfortunes. The jury is, however, still out on whether those policies laid lasting fundaments for long-term growth. Hungary is the first Central European country (since the anti-communist revolution triggered by Solidarność movement) that is experimenting with an independent economic policy. The results of Viktor Orbán’s experiment, if ultimately judged positive, could have profound consequences for the other countries in Central Europe and beyond.
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Zaborovskyy, V. V., and I. E. Revutska. "Regulation of the cryptocurrency market by legislation of Hungary." Uzhhorod National University Herald. Series: Law 1, no. 82 (May 16, 2024): 286–90. http://dx.doi.org/10.24144/2307-3322.2024.82.1.44.
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The article is devoted to the study of the regulation of the cryptocurrency market in Hungary, the regulatory consolidation of property rights to cryptocurrency values. A comparative analysis of the regulation of this issue under the legislation of the EU and directly of Hungary was also carried out. Because it is the regulatory framework and court precedents on the territory of the EU that form the basis for the formation of the domestic framework for the regulation of Hungary’s crypto market. It is also important to clearly define Bitcoin and Blockchain as a special kind of thing in Hungarian civil law. The authors paid special attention to the innovation in the tax sphere of Hungary. Virtual currencies, especially cryptocurrencies, and the technology behind them and their constant development pose a serious challenge to the legislator. The task is further complicated by the fact that cryptocurrencies have a number of unique characteristics that distinguish them from one another. The study focuses on issues related to taxation, mainly based on the norms of the current legislation of Hungary. A study of the appearance, concept and social acceptance of money, a presentation and a detailed analysis of each financial function lead to an analysis into the world of cryptocurrencies. The article also argues that each of the payment documents in the form of cryptocurrency can act as digital currencies or cannot perform monetary functions. When writing the article, special attention was paid to digital money of the central bank, which can revolutionize it, as a digital form of legal tender. Nowadays, most countries (for example, England) are experimenting with central bank digital money for its implementation. In theory, central bank digital money can replace traditional money and payment services (eg bank accounts, bank deposits). The advantage of the system is that it would reduce the cost of bank funding and it is also new for monetary policy. Central bank regulation of digital money will be one of the most important issues in the coming years. Due to the extreme volatility of the field under consideration, the authors consider it important to note that this article can only provide a brief and concise overview of the regulatory and tax regulation of the cryptocurrency market under Hungarian law. And this analysis has a positive foundation for further research and comparison with the domestic legal base of cryptocurrency market regulation under the legislation of Ukraine.
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Bártfai-Bora, Zsuzsanna, Ádám Huszárik, and Norbert Holczinger. "Stability versus Volatility: Hungarian Experiences with the First Five Years of Solvency II Regarding Quantitative Elements." Financial and Economic Review 21, no. 2 (2022): 66–93. http://dx.doi.org/10.33893/fer.21.2.66.
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It has been more than five years since the introduction of the Solvency II framework (S2), which determines how insurers should operate in Europe, and this allows for a detailed analysis of Hungarian developments. The new approach in S2 that makes it similar to banking regulation, including the market-consistent valuation principles and the application of a risk-based capital requirement, has stood the test of time in recent years: the various shocks did not undermine the stability of the Hungarian sector. This was largely due to the recommendation of the central bank of Hungary (Magyar Nemzeti Bank, MNB) on holding a volatility capital buffer. This is because the robust capital position of the sector as a whole has been maintained in the context of 50–100-basis point reductions in capital adequacy levels in certain individual cases, which justifies the use of the capital buffer. The balanced capital position was also influenced by the conservative investment strategy, which resulted in one of the lowest market risk exposures in Europe, against the backdrop of huge government securities holdings, even by international standards.
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Szombati, Anikó. "Banking union through Hungarian eyes–assessment of a possible close cooperation." Journal of Governance and Regulation 6, no. 1 (2017): 63–77. http://dx.doi.org/10.22495/jgr_v6_i1_p6.
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Legislation laying down the first two pillars of the institutional system of the Banking Union was finalised in April 2014. In accordance with the regulations, non-euro area Member States, including Hungary, may notify the ECB at any time if they wish to participate in the common system even before the euro is adopted. The paper aims at summarising the possible pros and cons vis-à-vis the Banking Union from a Hungarian perspective. It highlights the reasons for not opting in at the inception of the new supervisory system and also gives indications about those major milestones that could give rise to the reconsideration of the present position. In its existing form, the single supervisory and crisis management mechanism has not achieved the initial target, i.e. the separation of the stability of national banking systems and the fiscal capacity of Member States and the elimination of interdependencies. In addition, close cooperation implies weaker powers than those provided by actual membership, and the separation of central bank and supervisory functions carries risks in non-euro area countries. By contrast, the attraction of Banking Union membership lies in the opportunity to join a uniform European system, a wider analyst base and ultimately, the “ammunition” of the EUR 98 billion available for crisis management in comparison to the Hungarian banking system. In October 2013, a uniform supervisory system integrated into the central bank was set up in Hungary, and the domestic resolution institutional system was complete by the end of 2014. Therefore, until the finalisation of the Banking Union through the creation of the common deposit insurance fund and a common fiscal backstop, it is reasonable to put the decision to join on hold; indeed, such a decision should be made in light of several factors presented in this study.
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Kovács, Levente, and Sandor David. "Compliance landscape in central and eastern Europe – the case of Hungary." Journal of Money Laundering Control 20, no. 4 (October 2, 2017): 325–33. http://dx.doi.org/10.1108/jmlc-11-2016-0046.
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Purpose This paper aims to explore how the understanding of the concept of compliance as its own risk category and the role of compliance as a separate internal banking function developed during the central and eastern European (CEE) region’s restoration of the banking systems, both parallel to and as a part of their transition process from their centrally planned economies to market economies, with special focus on the case of Hungary. Design/methodology/approach The paper discusses the transition within CEE and the reconstruction of their banking systems, including that of money and the capital market and the law-abidingness of the banking sector, the role of its reputation, compliance and customer relationships, compliance after 2005, the Bank of International Settlement principles and their implementation, a Hungarian compliance survey conducted in 2009 and future challenges in the field of compliance. Findings There is still not a globally or continentally accepted “best” practice in the field of compliance. It is under these circumstances that banking systems must face the challenges of this new epoch of increasing migration and cybercrime. Originality/value This paper presents the development of compliance in CEE, with special focus on Hungary. The article was written by employees of the Hungarian Banking Association, put together with the help of the vast experience they gained throughout their careers in the banking sector.
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Frolov, Serhiy, Maksym Ivasenko, Mariia Dykha, Iryna Shalyhina, Vladyslav Hrabar, and Veronika Fenyves. "Interaction between decentralized financial services and the traditional banking system: A comparative analysis." Banks and Bank Systems 19, no. 2 (April 22, 2024): 53–74. http://dx.doi.org/10.21511/bbs.19(2).2024.05.
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This paper investigates the interaction between decentralized financial services and the traditional banking system by building VAR models, conducting Granger causality tests, building impulse response functions, and performing variance analysis. To implement the model, banking indicators of the USA, India, and Great Britain were selected: the volume of commercial and industrial loans, interest rate, consumer price index, total liabilities and capital of banks, aggregate deposits, federal funds rate (for the USA), and repo rate (for India). The study examined central bank data of the specified countries from July 2018 to January 2024 with the TVL indicator, which measures the sum of all assets locked in DeFi protocols. The results of the impulse response function (IRF) for countries demonstrate different interactions between TVL and bank indicators. The US response to TVL shocks demonstrates a stimulative monetary policy, with significant Fed rate reductions and increased commercial lending to boost economic activity. In contrast, India’s monetary stimulus, marked by declining repo rates and growth in banking sector liabilities and deposits, aims to enhance economic resilience. The UK, however, adopts a conservative monetary approach, with sharp bank rate increases and mixed lending and deposit responses, prioritizing financial stability. Analysis across these nations highlights different impacts of financial indicators on TVL. In the US, the evolving relationship between TVL and bank indicators reflects the financial system’s complexity. India’s sensitivity to monetary policy, credit conditions, and inflation significantly influences TVL. In the UK, central bank decisions, particularly the bank rate, play a crucial role in financial market dynamics. AcknowledgmentThe authors appreciate the assistance in the preparation of the article provided by the University of Debrecen Program for Scientific Publication and the János Bolyai Research Scholarship of the Hungarian Academy of Sciences.
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Păunescu, Cristian, and Nadia Manea. "Agenția Sighet a Băncii Naționale a României în perioada 1921–1950." Anuarul Institutului de Cercetări Socio-Umane Sibiu 30 (March 15, 2024): 113–34. http://dx.doi.org/10.59277/aicsus.30.08.
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Based on our research of archived documents, this paper retraces the history of the Sighet Agency of the National Bank of Romania (NBR) in the period between 1921 and 1950, that is from the time of its establishment to the time of Romania’s first administrative reorganisation during the communist regime. The establishment of the agency was part of the process of expanding the branch and agency network of the National Bank of Romania after the Union of 1918 and can be explained in several ways: the demographic, economic, and banking potential of the town of Sighet within Maramureș county, notwithstanding the challenges presented by the status of local means of transportation, the railway in particular, given that it was not entirely built on Romanian territory; the completion of monetary unification before the establishment of the local agency; the stages of acquiring the Sighet offices of the former Austrian-Hungarian Bank and the appointment of the agency’s first bank officers. The agency’s actual discount lending (rediscounting) operations, bearing the lowest existing interest rate, are exemplified by listing the agency’s customers and their loans, as well as by data showing the growing business volumes in the period from 1923 to 1929. For relevance purposes, the data is compared with similar data from the Craiova and Cluj branches. The impact of the Great Depression can be seen in the evolution of another banking operation, namely bank transfers, as well as in the audit reports prepared by auditors from the bank’s head office. There is also a list of people whose professional destiny was linked to the NBR Sighet Agency in the period between the two World Wars, both bank managers and other bank officers, among whom one may notice the remarkable figure of Romulus Roman, whose life tragically ended in a communist prison, after an exceptional career with the central bank. The consequences of the territorial changes which took place between 1938 and 1940 near Romania’s north-western border on the activity of the Sighet Agency are also traced back from the time when railway transportation was discontinued to the time when the bank’s offices were evauted. The last part of our paper is dedicated to the events which happened between 1945 and 1950, namely: the return of bank officers to the NBR Sighet offices in the context of the presence of Red Army troops in the region at a time of turmoil surrounding the establishment of Romania’s northern border; the withdrawal of foreign legal tenders (the Hungarian pengő, the Soviet pengö, roubles, Soviet lei); the resumption of bank operations in the context of the dramatic changes imposed by the communist regime, culminating at the time in the nationalisation of the NBR, the dissolution of banks, the disestablishment of Maramureș county and the establishment of the Baia Mare Region, following which the Sighet Agency of the Bank of the Romanian People’s Republic – the State Bank became the Sighet Region Subsidiary subordinated to the Baia Mare Regional Branch.
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Lentner, Csaba. "Outline of the Evolution of the Hungarian Monetary Policy from the Restoration of the Two-level Banking System to the Present Day." Public Governance, Administration and Finances Law Review 6, no. 1 (October 29, 2021): 103–16. http://dx.doi.org/10.53116/pgaflr.2021.1.9.
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This study outlines the development of Hungary’s monetary policy, and the course and changes in its objectives and instruments since the beginning of the market economy transition in the late 1980s. The author’s basic thesis is that the period since the two-level banking system was reinstated after four decades of a planned economy system, in 1987, can be basically divided into three development phases with significantly different characteristics. The first phase was an ‘attempt to introduce’ an imported monetary mechanism, or perhaps an urge to comply with it, while the second phase was an approach of a monetary regime change launched in 2013 and supporting economic growth and financial stability strongly and directly, which lasted until the appearance of the traumatic elements of the Covid-19 pandemic crisis. The third phase is evolving today, under the circumstances of adapting to the conditions of the real essence of the twenty-first century, i.e. a new type of international competitiveness, which is pursued by the Central Bank of Hungary as stipulated by the Fundamental Law and the cardinal Central Bank Act of Hungary.
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Mérő, Katalin. "Macroprudential warnings in the Euro zone and Hungary." Acta Oeconomica 64, no. 4 (December 1, 2014): 397–417. http://dx.doi.org/10.1556/aoecon.64.2014.4.1.
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During the present financial crisis, the focus of the regulation and supervision of financial institutions has shifted from being institution-based (microprudential) towards the systemic level (macroprudential). A special element of the macroprudential regulatory and supervisory toolkit is the issue of macroprudential warnings. Prior to the crisis, both the international and the domestic authorities issued warnings concerning the emergence of system-wide risks in the financial sector. However, these warnings did not result in significant changes in the behaviour of the banks, which were the main addressees of the warnings. The article analyses the practice and effectiveness of macroprudential warnings in relation to the European Central Bank and the competent Hungarian authorities. The subject matter is particularly topical, taking into account that one of the very first steps in changing the institutional framework of financial supervision, as a response to the financial crisis, has been the establishment of an institutional framework for issuing macroprudential warnings.
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Bareith, Tibor, Tibor Tatay, and József Varga. "The Impact of Changes in Financial Supervision on the Profitability of the Hungarian Banking Sector." Economies 10, no. 7 (July 21, 2022): 176. http://dx.doi.org/10.3390/economies10070176.
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Since 2013, the central bank has been responsible for supervision in Hungary. In addition to the regulatory change, a law was published in the same year that started the process of abolishing the savings co-operative system. This paper investigates the impact of these two significant changes on the profitability of the Hungarian banking sector between 2003 and 2019 using dynamic panel model estimates. The supervisory change has reduced the profitability of credit institutions and tighter supervision has been implemented. The transformation of the savings co-operative system was in fact an integration that led to the disappearance of savings co-operatives by 2019. Competition in the market has been weakened, which has increased the profitability of the remaining financial institutions. The results were robust in terms of the multiple specifications and profitability ratio.
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Novák, Zsuzsanna, and Nikolett Sereg. "Hungarian forint FX swap spreads during and beyond crisis times." JOURNAL OF INTERNATIONAL STUDIES 15, no. 1 (March 2022): 26–46. http://dx.doi.org/10.14254/2071-8330.2022/15-1/2.
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Incentivised by a wide range of research discussing mispricing in USD related swap markets, the paper aims at discovering the factors contributing to the deviation of the 3-month FX swap points in the EURHUF and USDHUF market from their CIP based values primarily between the period January 2008 and December 2018 and with an extension to the end of 2021 using daily and monthly Bloomberg quotes. The period examined can be divided into three plus one subperiods as concerns FX swap spreads, largely determined by the effects of the global financial crisis and the volume of FX loans. Apart from the most important classes of variables explaining FX swap spreads, counterparty, funding and market liquidity risk indicators, the literature identifies, policy variables were also involved in the analysis. During and in the aftermath of the 2008 global financial crisis, the MNB applied various kinds of FX swap tenders to ease FX liquidity tensions in the Hungarian interbank market, and continued providing such operations even after the conversion of household FX loans to domestic currency. The results of VARX estimations suggest that indicators of market and liquidity tension, counterparty risk mostly positively contributed to the widening of FX swap spreads, in addition, policy intervention had a spread dampening impact throughout most of the period. The paper confirms that central bank FX swap market participation can mitigate mispricing especially in turbulent times.
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Folyovich, András, Tamás Jarecsny, Dorottya Jánoska, Eszter Dudás, Katalin Anna Béres-Molnár, Nóra Botos, Dávid Biczó, and Gergely Toldi. "Csokoládéfogyasztás és a magyar Nobel-díjasok." Orvosi Hetilap 160, no. 1 (January 2019): 26–29. http://dx.doi.org/10.1556/650.2019.31264.
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Abstract: Introduction: Certain dietary items contain significant amounts of flavonoids which was shown to improve cognitive function. An earlier investigation demonstrated a strong linear correlation between chocolate consumption and the number of Nobel laureates in a given country. However, Hungary and the Hungarian Nobel laureates were not included in this analysis. Aim: In this publication, we aim to complement these data by analyzing data available for Hungary. Method: The number of Nobel laureates per country and the international data on chocolate consumption were based on the previously published results. The amount of chocolate consumption in Hungary was based on data from the Hungarian Central Statistical Office. GDP per capita and Research and Development Expenditure data for the investigated countries were derived from the World Bank. Results: There are 11 Nobel laureates from Hungary. Based on this, Hungary ranks the 9th amongst the 24 studied countries. However, it only ranks the 19th when it comes to chocolate consumption. Correlations were found between the number of Nobel laureates and GDP per capita (r = 0.734; p = 0.001) as well as Research and Development Expenditure (r = 0.532; p = 0.01) amongst the studied countries. Conclusion: The achievements of Hungarian scholars do not support the earlier notion that there is a link between the number of Nobel laureates (cognitive function) and the chocolate consumption in a given country. Their biographies highlight the importance and more possibilities of research funding in wealthier countries. Orv Hetil. 2019; 160(1): 26–29.
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Békefi, Z., S. Vaughan, and K. Tobutt. "Determination of incompatibility (S) genotypes of sweet cherries in the Hungarian gene-bank by a PCR-based method." Acta Agronomica Hungarica 58, no. 4 (December 1, 2010): 377–84. http://dx.doi.org/10.1556/aagr.58.2010.4.6.
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The sweet cherry (Prunus avium L.) gene-bank collection in Hungary comprises mainly local cultivars. The incompatibility (S) genotypes of 48 accessions from the central region of Hungary were investigated by PCR amplification of the intron regions of the SRNase and SFB genes responsible for compatibility relationships in sweet cherry. The Sgenotypes of 38 accessions were completely determined; they showed various pairs of nine alleles and could be assigned to 15 of the existing incompatibility groups or, in the case of three accessions having the novel genotype S6S13, to the new incompatibility group XLII. For 10 accessions only one S-allele could be identified, as a single S-RNase product was generated and the intron region of the SFB gene of the second allele could not be amplified.
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Kandrács, Csaba, and Renato Ritter. "Sustainability Indicators – the Boundaries and Alternatives of GDP." Financial and Economic Review 23, no. 2 (2024): 31–55. http://dx.doi.org/10.33893/fer.23.2.31.
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To quantify economic performance, ‘gross domestic product’ – a measure created in the 1930s – is used worldwide. The indicator is suitable for measuring the performance of an economy and the welfare of individuals at a given point in time, but its capabilities are limited. The well-being of people, the impact of the environmental damage caused by production and the sustainability of economic performance are all issues that fall outside the scope of the metric. Since the 1970s, there has been a debate about the shortcomings of this indicator and its possible alternatives. Joining the dialogue, our goal was to present the principles of sustainability, to give an overview of the alternative indicators considered to be more relevant in Hungary and abroad, and to present the new sustainability indicator of the Hungarian central bank.
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Clericuzio, Peter. "Art Nouveau and Bank Architecture in Nancy: Negotiating the Re-Emergence of a French Regional Identity." Architectural History 63 (2020): 219–56. http://dx.doi.org/10.1017/arh.2020.6.
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AbstractArt nouveau design is one of the principal markers of the identity of the French city of Nancy, which became internationally renowned as one of the most important centres for the development of this artistic style around 1900. Like other strands of the style, especially in Spain, Germany and parts of the Austro-Hungarian empire, art nouveau in eastern France has been linked to long-standing regionalist sentiments that resisted centralised Parisian control over local affairs typical in nineteenth-century France. This article examines the evolving bank architecture in central Nancy, a major facet of the introduction of art nouveau in its urban environment, to show that the construction of the city's modern character was a negotiated process that involved careful planning among financial institutions, architects and decorative artists. The design and erection of modern banks in Nancy in the first decade of the twentieth century balanced generalised architectural principles emanating from the École des Beaux-Arts in Paris with the employment of highly symbolic regional naturalist motifs and architectural elements. This strategy fulfilled a variety of communicative functions to appeal to a civic populace whose identity was multivalent and shifting with the era's political climate, particularly with regard to the nearby ‘lost provinces’ of Alsace-Lorraine in the aftermath of the Franco-Prussian war.
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Bodnár, Ákos Zsolt. "An analysis of the Hungarian unsecured interbank market before and after the COVID-19 pandemic." Economy & finance 8, no. 2 (2021): 193–209. http://dx.doi.org/10.33908/ef.2021.2.4.
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In this article, I examine the structure of the Hungarian unsecured interbank forint market and the change of its network in time between 2019 and 2020, the years before and after the pandemic. I introduce the general characteristics of the market, such as turnover and interest rate, as well as the basic network and structural features. It can be established that, following the COVID-19 pandemic, the unsecured interbank turnover has increased by nearly 30%, which is partly attributable to the liquidity-providing measures taken by the central bank. In March, there was a spike in the interest weighed according to daily turnover, and it had higher level and volatility for the rest of the year 2020 than in 2019. Compared with the period following the bankruptcy of Lehman Brothers, the shock resistance of the unsecured interbank market was much more favourable than in 2020. As far as borrowers are concerned, there was some increase in concentration due to the events, but it was far less significant than during the previous crisis. At the same time, the polarisation of the market became stronger, as there were more participants who provided liquidity than those who absorbed a considerable amount of liquidity. Despite increased liquidity, the aforementioned strong polarisation may have been related to the higher level and the volatility of interest rates in 2020.
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Csereklye, Erzsébet Krisztina. "MONITORING OF LANDSCAPE COMBINATIONS AND CONCOURSES IN THE HUNGARIAN DANUBE‐BEND." JOURNAL OF ENVIRONMENTAL ENGINEERING AND LANDSCAPE MANAGEMENT 18, no. 1 (March 31, 2010): 5–12. http://dx.doi.org/10.3846/jeelm.2010.01.
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In Hungarian Danube‐bend the flora of the area is very diversified due to climatic factors. Numerous species of flora characteristic of the area are under protection. The Danube‐bend and vicinity is one of the most well‐known part of Hungary, rich in historical relics and in natural assets. The city of Vác occupies a central place in the Danube‐Bend Region. Among Vác's attributes, we can find rare and invaluable cultural and historical values. The most significant natural attribute is the Grove of Vác near the Danube bank. The example of the Grove of Vác is of country‐wide importance in many aspects – it is part of the Duna‐Ipoly National Park – though local protection is reasonable regarding the treatment and links because of the pollution of the environment. The natural advantages are affected by air pollution due to the increased industrial, commercial, and economic life of the city. Nowadays, the research of environmental pollution comes to the front because of the importance of heavy metals in the landscape classification. Even though the heavy metals are a natural component of the environment, we have to look them toxic materials. This paper focuses on the pollution analysis I carried out with various plant samples. It shows the main toxicology pollutants present in different landscape combinations and concourses. In tree specie, like Salix alba, near the band of No. 2 motorway I observed 5–8 times more values as compared with samples from the Duna‐Ipoly National Park and nearly all kinds of heavy metals was elevated in Plantago major. In the life of the ecosystem, the primary source of heavy metals is the No. 2 motorway and the secondary is the pollution of the Danube bank. Santrauka Vengrijoje Dunojaus vingyje augalija del klimatiniu veiksniu yra labai ivairi. Dauguma teritorijai būdingu augalijos rūšiu saugomos. Dunojaus vingis ir apylinkes ‐ viena iš geriausiai Vengrijoje žinomu vietu, turtingu istoriniu relikviju ir gamtos vertybiu. Vacas (Vác) ‐ miestas, išsidestes centrineje Dunojaus vingio regiono dalyje. Miestas turi retu ir neikainojamu kultūriniu ir istoriniu vertybiu. Reikšmingiausias natūralusis jo bruožas yra Vaco giraite šalia Dunojaus kranto. Ji kraštui svarbi daugeliu aspektu ‐ tai dalis Duna‐Ipoly nacionalinio parko. Čia taikoma vietine apsauga, pagrista tvarkymu stebint aplinkos tarša, kuri daugiausiai pasireškia oro tarša del pramones, komercines ir ekonomines veiklos mieste. Šiais laikais aplinkos taršos tyrimai tampa vis aktualesni del besikaupiančiu sunkiuju metalu. Net jei sunkiuju metalu šaltiniai gamtiniai, reikia stebeti, kad koncentracijos neviršytu leidžiamuju. Straipsnyje taršos analize pateikiama ivairiu augalu tyrimu pavyzdžiais. Tiriant medžius Salix alba, augančius šalia greitkelio Nr. 2 ruožo, buvo nustatytos 5–8 kartus didesnes teršalu koncentracijos, palyginti su nustatytomis Duna‐Ipoly nacionaliniame parke. Beveik visu sunkiuju metalu koncentracijos buvo didesnes Plantago major. Tiriant ekosistemas nustatyta, kad pirminis sunkiuju metalu šaltinis yra greitkelis Nr. 2, su tuo susijusi Dunojaus vingio tarša. Резюме Флора региона в изгибе Дуная в Венгрии весьма разнообразна в связи с климатическими факторами. Многие виды флоры, характерные для данной области, находятся под охраной. Этот регион является одним из наиболее известных в Венгрии. Он богат историческими реликвиями и природными достопримечательностями. Город Вац (Vác) занимает центральное место в регионе. Большое культурное и историческое значение присуще многим его достопримечательностям. Наиболее велико в природном отношении значение рощи в городе Вац на берегу Дуная. Роща города важна не только для края, но и для всей страны во многих отношениях. Это часть национального парка, значение которого неоценимо в связи с защитой окружающей среды от загрязнений, выделяемых промышленными, коммерческими и другими предприятиями. В настоящее время исследования загрязнения окружающей среды становятся все актуальнее в связи с необходимостью классифицировать тяжелые металлы по их воздействию на ландшафт. Даже тяжелые металлы, являющиеся естественным компонентом окружающей среды, могут расцениваться как токсичные элементы. В статье основное внимание уделяется анализу загрязнителей на примере их воздействия на разные растения. Проанализировано токсическое воздействие загрязнителей в разных их сочетаниях и в связи с особенностями ландшафта. В коре деревьев (Salix Alba), находящихся на участке вблизи скоростной автомагистрали № 2, было зафиксировано загрязнение металлами, в 5–8 раз превышающее подобные значения в национальном парке Дунай-Ипель. В жизни экосистемы первичным источником тяжелых металлов является автомагистраль № 2 и вторичным – загрязнения берегов Дуная.
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Surányi, György. "Ten years after the crisis in Hungary." Acta Oeconomica 68, s2 (December 2018): 121–42. http://dx.doi.org/10.1556/032.2018.68.s2.6.
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Looking back to the global financial crisis of 2008–2009, Hungary was among the first countries to be forced to make use of financial assistance from the EU and the IMF. The government, the MNB (the central bank of Hungary) as well as the domestic and foreign analysts cited the high public debt and the volume of unsecured foreign-currency loans as the main reasons for the crises. Though these were real weaknesses, this diagnosis was false as much as the following treatment. First and foremost, it was the inadequate level of foreign exchange reserves that made Hungary to request outside financial assistance. The excessive fiscal tightening urged by the MNB only led to deepening of the crises. In general, the macropolicy – both fiscal and monetary policy – before, during and after the crises turned out to be painfully pro-cyclical. Due to the lack of sufficient reserves, the MNB became virtually powerless to intervene and could only watch from the side-lines as events unfolded. The orthodox mind-set after replenishing the forex reserves prevented it from implementing a broad scale of unconventional measures to ease the crises. The fiscal authority lost its capacity long before to reduce the severity of the crises. Thus, the excessive and incorrect structure of fiscal correction coupled with an unjustified orthodox monetary policy, the contraction of the Hungarian economy went much beyond the inevitable amount.
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Fellner, Zita, and Anna Marosi. "Does the Past Haunt Us No More? How Proximity to Foreign Currency Lending Experience Affects Trust in the Banking System and Financial Literacy." Financial and Economic Review 21, no. 2 (2022): 37–65. http://dx.doi.org/10.33893/fer.21.2.37.
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While FX lending is often the focus of analyses on non-performing loans and postcrisis debt relief measures, its effect on debtors’ subsequent behaviour and attitudes has been addressed to a far lesser extent in the research in recent years. In our study, we seek to fill this gap by examining the effect of proximity to foreign currency lending experience on an individual’s trust in the banking system, and financial literacy. For our study, we relied on data from a CATI survey conducted on behalf of the MNB, the central bank of Hungary, in September 2021. The sample of 1,001 respondents represents the Hungarian adult population in terms of gender, age, type of municipality, region and educational level. In addition to the proximity to foreign currency lending experience, modelling controls included sociodemographic variables on the one hand, and variables related to borrowing on the other. The effect of proximity to foreign currency lending experience was examined in terms of both trust in the banking system and components of financial literacy. The effect was quantified using a linear regression model based on OLS estimation. According to our estimate, the role of proximity to foreign currency lending experience is less important than expected. Closer proximity to foreign currency lending experience has no apparent effect on a borrower’s overall trust in banks operating in Hungary. At the same time, proximity to foreign currency lending experience increases the likelihood of the respondent’s belief that a bank acts in bad faith (exploiting legal loopholes). Among the components of financial literacy, it plays a significant role only in financial knowledge, i.e. controlled for other factors, closer proximity on average increases financial knowledge. Conversely, it fails to influence, in any manner, the adoption of more conscious attitude, behaviour and practices.
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Lentner, Csaba. "A magyar állampénzügyi rendszer rezilienciája a COVID–19 járvány kapcsán." Scientia et Securitas 2, no. 3 (December 22, 2021): 308–15. http://dx.doi.org/10.1556/112.2021.00054.
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Összefoglaló. A COVID–19 járvány a magyar gazdaság teljesítményeit és pénzügyi egyensúlyát is gyengítette, ám a korábbról stabil államháztartási alapok következtében a negatív hatások csak átmenetinek vélelmezhetők. Magyarország 2010–2019 között egy sikeres állampénzügyi reformot hajtott végre, amely jó alapot ad a válság elleni védekezéshez. Ugyanakkor a járványválság még erősebben ráirányítja a figyelmet a magyar nemzetgazdaság versenyképességének erősebb javítására, az infláció fékezésére, a költségvetési egyensúly megfelelő keretek között tartására, és a kis- és középvállalati szektor mérethatékonyságának növelésére. A tanulmány bemutatja a válság alatti fiskális és jegybanki intézkedések vázát, és egyúttal utal a válság utáni időszak kihívásaira, amelyek a nemzetközi térből, s különösen a jegybanki politika megváltozásából fakadnak. Summary. The COVID-19 epidemic hit the position of the otherwise strong Hungarian economy. We could see an economic downturn and financial imbalance developed in the last one and half years. As in the recovery (post-crisis) period of the 2010 decade, the crisis is being addressed with the active involvement of the state and the central bank. However, in the course of managing the crisis, it arises that on the new growth trajectory to be built after the recovery period, the competitiveness aspects, especially in the small and medium-sized enterprise category, which plays a major role in Hungary, should be more efficient than in the previous decade. It is necessary to improve the size efficiency, liquidity and capital efficiency of the SME sector by means of fiscal regulation, and the allocation of state resources should be more strongly linked to the requirements of export capacity and innovative business conduct. The decade after the 2007–2008 crisis – the previous recovery period – was characterized by the weak enforcement of fiscal policies in regulating and improving competitiveness, especially in Hungary, where change is essential. After 2013, Hungarian monetary policy also caught up with the international practice of quantitative easing, achieving significant results in improving both the financial balance and economic growth. However, the previous quantitative easing of the central bank, as well as the increase of budget expenditures on epidemiological expenditures, investments, normative budget annual subsidies from the European Union and subsidies from the European Reconstruction Fund, and even investment loans from our Eastern economic partners, generates an overheated economy, inflationary pressures, and external and balance of payments deficits. Added to this is the wage dynamics of the population, and the permanent and even increasing disbursement of family benefits during the crisis. All in all, in the 2020s we will face a new financial-debt crisis, unemployment and labor shortage problems, the competitiveness problems of the small business sector, culminating in the reorganization of the world economy, new competitiveness aspects, it will be a rather complex task. Thus, the turn of competitiveness that has essentially failed in the context of an abundance of resources and consolidated macroeconomic conditions (2010-2019) must be implemented “uphill”, it is only the time, will and opportunity to take its first steps. But the main lesson of the crises caused by the epidemics (also) is that the remaining economic entities have become stronger. And perhaps there is a chance to avoid falling into the trap of medium development through a new central bank policy that moderates inflation and truly enforces modernization considerations, as well as improving financial positions and improving economic positions (competitiveness).
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Kontra, Miklós. "Ups and downs in English language teacher education in Hungary in the last half century." Working Papers in Language Pedagogy 10 (December 1, 2016): 1–16. http://dx.doi.org/10.61425/wplp.2016.10.1.16.
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This paper will NOT address the catastrophic effects of the government-imposed structural changes to Hungarian teacher education since 1990, nor will it concern itself with the low quality of life our teachers face, or how English linguistic and cultural imperialism is resisted or enhanced by our teacher training programs. Instead, I will demonstrate how our Humboldtian/neohumanist tradition of teacher education dating back to 1872 has dominated English language teacher training even in the last fifty years, and will give a criticism of the snobbery in our academic life which deems educational linguists’ and language educators’ work “unacademic” and looked down upon. The traditional teacher education model was significantly challenged when, in addition to the double major[1] 5-year teacher education programs, 3-year single major programs were started in 1990, with considerable help from the World Bank, the British Council, USIS and Peace Corps. These new programs focused on language pedagogy and practical teacher education, and provided considerably increased teaching practice. Similarly to the Netherlands in the 1970s, this was “an uphill fight against tradition, vested interests and mental inertia” (van Essen, 1996, p. 21). The quality of the programs was internationally recognized and the Centers for English Teacher Training (CETTs) became a model for restructuring English teacher education in Central Europe. The 1990s saw the all-time peak of English teacher education in Hungary. After 1997 the CETTs were forcibly (re)merged with the traditional philology departments (aka Departments of English Studies), and a lot of their achievements were wasted. The quality of teacher education seems to be under serious threat again and the academic prestige of teacher educators continues to be minimal, despite the international fame of some Hungarian applied linguists and teacher educators, and the high-quality MA and PhD programs they direct. In conclusion, I will offer my ideas on what could be done in this situation, which is aggravated by chaotic educational language policy decisions from our governments and the curse of the age-old SCHOLARLY teacher vs. PRACTICE ORIENTED teacher controversy in our (English) teacher education.
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Boros, Brenda, Zoltán Pókász, Ákos Süle, and Dorottya Szabó. "A HR szerepe a felelős foglalkoztatóknál." Köz-gazdaság 16, no. 2 (June 20, 2021): 13–34. http://dx.doi.org/10.14267/retp2021.02.02.
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A kutatás célja az, hogy a Magyar Nemzeti Bank 2020. novemberi termelékenységi jelentésére és az “Év Felelős Foglalkoztatója” kiadványra alapozva megvizsgálja négy kérdésből álló kérdőíves módszerrel, hogy a vállalatok hogyan tudtak és tudnak alkalmazkodni a közelmúltban történt változásokhoz a humánerőforrás szemszögéből. Ezekből a változásokból kiemelendő a digitalizáció és az innováció növekvő térnyerése, a koronavírus-járvány és az azzal együtt járó kevesebb személyes kontaktus. Emellett a HR-részlegek potenciális kockázati tényezői is a kutatás tárgyát képezik. Először a Magyar Nemzeti Bank jelentésének releváns részei kerülnek összefoglalásra, ezt az “Év Felelős Foglalkoztatója” kiadvány összefoglalója követi, végül a kérdőív és az arra adott huszonegy válasz bemutatása következik. Az eredményekből látható, hogy a szolgáltatási szektorban és az iparban tevékenykedő vállalatok attitűdje szignifikánsan eltér. Az azonban általánosan kijelenthető, hogy a munkáltatók kifejezetten nagy figyelmet fordítanak a munkavállalók jóllétére, és igyekeznek a pandémia alatt is megőrizni őket. Egy pozitív tendencia látható tehát, melyet azonban szélesebb, az országot érintő makrofolyamatok sokszor hátráltatnak. = The aim of this research is to examine - with a survey of four questions - how corporations could and can adapt to the recent changes from a human resources point of view based on the Hungarian Central Bank’s productivity report of November 2020 and the publication called “Év Felelős Foglalkoztatója'' (Responsible Employer of The Year). The incremental expansion of digitalization and innovation, the coronavirus pandemic as well as the less in-person contact that is inherent with it have to be highlighted out of these changes. Additionally, the potential risk elements of HR departments are also subjects of this research. First, the relevant parts of the Nemzeti Bank’s report are summarized which is followed by the summary of the “Év Felelős Foglalkoztatója” publication, and finally the questionnaire as well as its twenty-one responses are presented. According to the results the attitudes of the corporations operating in the service sector and in the industry significantly differ from each other. Nevertheless, what can be generally determined is that these employers pay special attention to their employees’ well-being and they intend to preserve their employees during the pandemic. Subsequently, a positive tendency can be seen, which is often set back by the wider macro processes of the country.
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Lampe, John. "Stabilizing southeastern Europe, financial legacies and European lessons from the first world war." Ekonomski anali 59, no. 203 (2014): 7–28. http://dx.doi.org/10.2298/eka1403007l.
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This paper pays brief attention, although more than the recent flood of 1914 centenary books, to economic causes of the First World War before turning to it fateful economic consequences for Southeastern Europe. The Austrian lack of economic leverage over Serbia is cited as a reason for its resort to the military option. At the war?s end, the option of the victorious powers to provide significant economic relief to the region where the conflict had begun was not taken. After tracking the brief, limited assistance provided, the paper reviews to the massive economic problems confronting four of the five of independent states, neglecting Albania as a special case, that could now be called Southeastern Europe. First Greece and then Bulgaria faced forced inflow of refugees. Romania and the Yugoslav Kingdom faced the economic integration of large new, formerly Austro-Hungarian lands. All of them were left not only with war deaths and destruction but also with large war debts, or in Bulgaria?s case, reparations. The paper concentrates on the primary Western response to these four economies, an effort led by the Bank of England to replace immediate postwar inflation with the deflation needed to reestablish currencies with prewar convertibility to gold, now with Pound Sterling added to a gold reserve standard. Independent central banks, the major positive legacy of this initiative, were to lead the way. But the financial stability that all four economies did eventually achieve in the 1920s served only to reduce their war debts. Otherwise, maintaining the fixed and overvalued exchange rates restricted domestic credit, encouraged protective tariffs, and did not attract the foreign capital, especially new state loans, that this emphasis on a single, European financial framework had promised. A concluding section considers the lessons learned from a postwar period that promoted economic disintegration by the 1930s. Looking at the period since the end of the Cold War and then the wars of Yugoslavia?s dissolution, we see EU leadership in the reduction of trade barriers, the promotion of common fiscal practice and the prospect of genuine European integration as Western lessons learned. Within the region, independent central banks have helped the process. But the stabilization of currencies around the overvalued Euro has posed a familiar post- 1918 problem since the European downturn of 2008.
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Filipciuc, Ion. "Serbarea de la Putna și războiul franco-prusac (1870 - 1871)." Analele Bucovinei 58, no. 1 (September 1, 2022): 251–76. http://dx.doi.org/10.56308/ab.2022.1.17.
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"Between the cultural and religious event dedicated to the Moldavian ruler Stephen the Great, organized by the Romanian students from Vienna, Paris, Liege, Iasi, Berlin, Bucharest and Blaj, which was to take place on Saturday, August 15/27, 1870, at the Putna Monastery (in Bukovina, in the Austro-Hungarian Empire), and the armed confrontation between France and Prussia (which started on Tuesday, July 7/19, 1870 and ended on September 2, 1870, with the surrender of the French army, the deposition and the exile of Napoleon III on Sunday, September 4, 1870) there is no cause-purpose-effect connection, all the more so as the two events happened dispersed in time and space (Berlin, Paris, Vienna, Bucharest, Putna). And yet regarding the two historical facts, one Romanian and the other European, there was a factor of concern because in order to fill the vacant throne of the Kingdom of Spain, the Chancellor of Prussia chose Prince Leopold of Sigmaringen-Hohenzollern, whose brother Charles occupied in Bucharest the throne of the Romanian Principalities. However, the Bucharest-Berlin-Madrid triangle offered Europe a Hohenzollernian political perspective that could not be accepted by the hegemon pretender from Paris. The celebration at the tomb of Stephen the Great was firstly suggested by Iraclie Porumbescu, a parish priest in Putna village (Iasi, 1857). It was later presented by the Romanian student Constantin Aronovici in his dissertation „About the Genius of Stephen the Great” (Vienna, Saturday, December 4, 1869), conceived by Emanuil Logothetti (Saturday, December 25, 1869) and partially organized by Gabriel Băleanu inside the Putna Monastery on Saturday, August 15/27, 1870). The celebration took place in the tradition of the Assumption, with guests from Bukovinian villages and many others who came from Moldova, without causing impediments or suspicions in the context of the events in Europe. The central committee of the Romanian students in Vienna postponed the celebration for 1871, for a reason which is understandable in the “mioritic space”: the disappearance of the insurance policy of the money deposited at a Viennese bank, recklessly entrusted to the Romanians “Pêrlea & Murăşanu”. The invocation of the Franco-Prussian war (July 19, 1870 – May 10, 1871) was an excellent gimmick for credible publicity in the “Wallachian void”. "
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Hász-Fehér, Katalin. "The “Giant Role Model”: the “Serbian” Petőfi." Hungarian Studies Yearbook 5, no. 1 (November 1, 2023): 143–57. http://dx.doi.org/10.2478/hsy-2023-0009.
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Abstract The reception of Sándor Petőfi’s poems and the critical discourse on them in German by bilingual German poets and publicists in Hungary began during the poet’s lifetime and ran parallel to the development of his career. In the same period, however, from the mid-1840s, a very intense interest in his person and his poetry, which was even deeper and more diverse than in German, was awakened in southern Slavic, especially Serbian, literature. This paper explores the possible reasons for his integration in Serbian poetry and public poetry. Among the most important factors is the fact that in the 18th and 19th centuries, strong centres of Serbian culture developed in Hungary, including Buda, and that in the northern part of present-day Serbia, in Vojvodina, the population had for centuries been of mixed nationality, including Serbs, Hungarians and Germans. As a result, a large part of the Serbian intelligentsia spoke Hungarian, and many of the Hungarians in Vojvodina had spoken Serbian since the last century, so they could read each other’s literature in the original. Petőfi’s poetry, like much of 19th century Hungarian literature, was translated by renowned authors, sometimes of European quality, and his poetry was an inspiration for Serbian Romanticism in terms of form, theme and poetics (Jovan Jovanović Zmaj, Đura Jakšić). Finally, it is worth mentioning the historical circumstances, the fact that, although the two peoples were on opposite political sides in the Hungarian War of Independence of 1848 and several times later, Petőfi’s figure transcended political differences and his reception remained unbroken even in the most difficult periods. The belief that Petőfi, who originally went by the name Petrovics, was of Serbian origin – a belief that is difficult to verify biographically – and which dates back to Petőfi’s own time, has contributed to this. The layers and trends in the history of Petőfi’s reception in Serbia also shed light on the mechanisms of intellectual relations in the common cultural space of the peoples of Central and Eastern Europe and the Western Balkans.
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Soós, Anita. "“Den ensomme helt mod magtens og storpolitikkens skamfulde forsømmelser”: Den individuelle projektion af en nations kamp i FN-embedsmand Povl Bang-Jensens minde." Scandinavistica Vilnensis 17, no. 1 (July 31, 2023): 27–44. http://dx.doi.org/10.15388/scandinavisticavilnensis.2023.3.
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The Hungarian political and social discourse of the last decades often makes use of a national myth based on Hungarian history that focuses on a constant struggle for survival. The myth is built around the concept of the heroic Hungarians, who from time to time fight against a political and / or military preponderance. A narrative characteristic for the countries of East-Central and Eastern Europe has been created, which in its distinction between itself and the other concentrates on self-defence and victimhood, but at the same time emphasizes the nation’s superiority over the others. The image of the nation characterized by the uninterrupted struggle for survival becomes a schematic but effective tool in the political discourse. It is not a new narrative, but the actualization of the well-known, that finds appropriate events and personalities to disseminate the existing, traditional self-image. The paper attempts to demonstrate how the Danish United Nations official Povl Bang-Jensen and the role he played in the international politics after the Hungarian Revolution of 1956 has been used to convey this image. Based on memories, books and documentaries my goal is to discuss how individual recall of experienced events contributed to the (re)construction of Bang-Jensen’s personality. Furthermore, I try to shed light on how intertwining memories about a historical event, scientific research and history writing points to a changed perception of the scientific facts that are no longer considered objective and independent of human consciousness or actions. They describe a reality, which is influenced by consciousness and interpreted through textual formulations. The article argues that the subjective perspective constituted in the memories about Bang-Jensen creates an almost mythologized interpretation of the Danish diplomat as a symbol of freedom and morality, as well. The article was among others inspired by works of Maurice Halbwachs, Sabine Mollers, Annette Warrings and Bernard Eric Jensen on memory, historical awareness and the use of history.
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Denda, Dalibor. "The Danube as a Significant Line of Communication and Strategic Barrier for Serbia and Yugoslavia in the First Half of the Twentieth Century." Central-European Studies 14, no. 5 (2022): 57–79. http://dx.doi.org/10.31168/2619-0877.2022.5.3.
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In the first half of the twentieth century, the Danube was extremely important to Serbia and Yugoslavia in two ways. Firstly, it served as a communication line that played a significant role in the economy, especially that of the Kingdom of Serbia. Secondly, it served as a strategic barrier in wartime. The Danube's importance became even more evident during the so-called “Customs War”, or “Pig War” with Austria-Hungary between 1906 and 1911, which resulted in Serbia's economic independence. During the First World War, the Danube was not only a natural obstacle on the Austrian front, but also a strategic communication and supply line for both the Entente and the Central Powers. The control of the river, together with gaining full control of the Belgrade — Niš — Sofia — Constantinople railway line, was the main reason for the joint Austro-Hungarian, German and Bulgarian campaign against Serbia in October 1915. During the campaign, the Germans crossed the Danube in their section of the front line, which at the time was the largest crossing operation of the river in military history. After the First World War, the Kingdom of Yugoslavia gained the largest commercial fleet on the Danube through reparations. Between the two world wars, more than 40 % of Yugoslavian goods were exported along the Danube. In the late 1930s, the Danube’s role in supplying Nazi Germany with raw materials from the Balkans, especially Romanian oil, increased. The only place suitable for sabotage operations to destabilize the supply of the German war machine was the Iron Gate, a narrowing of the Danube at the Yugoslav-Romanian border. The importance of the Danube River was demonstrated during the April 1941 war, when Germany actually attacked Yugoslavia on the night of 5–6 April 1941, capturing the Sip Canal, the most important of the seven canals cut through the Iron Gate Gorge, guarded by the Yugoslav Army. In the Second World War, the Allies bombed many ports on the Danube and German ships carrying oil. Supplies were interrupted by the joint Soviet-Yugoslav offensive, which ended in the liberation of Belgrade. Finally, the largest battle of the Second World War in Yugoslavia, fought by the Red Army and the Yugoslav People's Liberation Army, took place from 11 to 29 November 1944, near the village of Batina, on the right bank of the Danube.
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Lentner, Csaba, and Szilard Hegedus. "Local Self-Governments in Hungary: Recent Changes through Central European Lenses." Central European Public Administration Review 17, no. 2 (November 7, 2019): 51–72. http://dx.doi.org/10.17573/cepar.2019.2.03.
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This article provides an overview of the regulatory environment of the Hungarian system of local self-government based on the methods of legal dynamics and economic analyses in a historical perspective tracing events back to the aftermath of World War II. The starting point of the analysis is 1947, the launching of soviet type command economy in Hungary. Next is a detailed study of the regulation and evolution of local self-government since its beginnings in the early 1990s following the change of regime, with a brief international outlook on the post-soviet countries surrounding Hungary. In our economic analysis, emphasis is placed on the period following Hungary’s accession to the European Union, a period that held out considerable opportunities for Hungarian local self-governments, but ultimately evolved into bankruptcy. The article presents detailed reasons for the atypical nature of Hungarian local self-government indebtedness and the factors underlying this unfavourable process. Further on, the procedure of debt consolidation and the essential elements of the new regulatory environment created after 2011 are described. In a brief international comparison, debt portfolio developments are analysed through the examples of Slovenia, Poland, Slovakia and the Czech Republic as analogue Central European countries, in order to provide further proof of the atypical financial management of Hungarian local self-governments, i.e. non-compliance with the rules and the not always solid budgetary discipline. The focus of the research underlying this paper is the impact the Hungarian regulation of self-governments had on the financial sustainability of local self-governments’ financial management. The study confirmed the initial hypothesis that the business management rules set out with insufficient prudence, deficiencies in the control system, and excessive borrowing in foreign exchange led to bankruptcy of a number of local self-governments and consequently jeopardised the proper provision of public services.
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Kovács, Lóránt. "Assessment of the environmental value of the Zichy Castle Park in Voivodeni, Romania – Brief description." Acta Universitatis Sapientiae, Agriculture and Environment 6, no. 1 (November 1, 2014): 52–56. http://dx.doi.org/10.2478/ausae-2014-0013.
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Abstract The Zichy Castle from Vajdaszentiväny (Voievodeni) is located in Mure§ County, central Romania, south-west from the town of Reghin. Its constniction in classical baroque style dates back to the beginning of the X\TH Century. The archaeological findings from the area show that Vajdaszentiväny was already populated in the Copper Age. The findings of gray dishes from the III and IV centuries were considered by Dr. Protase as indigenous Daco-Roman relics. The Roman presence here was demonstrated by residues of the hewn-stone road along the Maros River. After the Roman Age, several other populations (Goths, Slavonic peoples. Darghins and Huns) settled down here. The feudal Hungarian state occupied this area around the XI Century. Several streams, terraces and old cemetery ruins demonstrate tliat the Hungarians used the region for protective purposes. The first mitten records of Vajdaszentiväny date back to 1332, when die Papal documents (Sacerdos de Sancto Johanne) mention the settlement for the first time. In 1366. the name of the village was Märton-Szent-Ivän. and dunng the centuries it belonged to several old and noble families and dynasties as szentiväni Szekely. monoszlai Losonczi. Szakäcsi. the Bänffy and Dezsöfi, the Szentiväni, Butkai, Balog, Kecseti, Kerelöi, Szengyeli, Dengelegi, Fodor, vajdaszentivänyi Földväri, Koka, Piski, Järai or Järai Felsöjärai Abafäja. During the first half of the 19* Century, among former Hungarians noble owners of the village, the following can be mentioned: Count Sämuel Kemeny, Albert Horvath, Budai, Szocs (Käroly es Mihäly) and Duke Löwenthäl. Later on, the village of Vajdaszentiväny became famous because of its castle, later named the “Zichy Castle,” but also because of its citizens as preservers of folk music, folk dance and folk tales.
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Schneider, David. "Mad for Her Country: Melinda’s Insanity, the Puszta, and Nationalist Dramaturgy in Ferenc Erkel’s Bánk bán Act 3." Studia Musicologica 52, no. 1-4 (March 1, 2011): 47–64. http://dx.doi.org/10.1556/smus.52.2011.1-4.4.
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Framed by Béla Bartók’s criticism of Ferenc Erkel’s nationally inappropriate style in his polemic “On Hungarian Music,” this article examines, on the one hand, the overlap between the conventions of the bel canto Italian mad scene and the structure of verbunkos in Act 3, scene 1 of Erkel’s Bánk bán, and, on the other, the dramaturgical and national significance of Erkel’s particular mixture of such international and Hungarian traditions. In particular, I consider the seeming incongruence between the typically celebratory mood of the csárdás and its function as the cabaletta of Melinda’s mad scene as an expression of Hungarian national preoccupation with victimhood (propagated by such foundational national texts as Mihály Vörösmarty’s 1836 Szózat, which has served as Hungary’s “second national anthem”). Melinda’s mad scene takes place on the banks of the Tisza River on the Great Hungarian Plain, a location of central importance to Hungarian national identity. This environment, which Erkel and his librettist invented for the mad scene, reinforces Melinda’s tragic role as a symbol of the nation. With eye and ear attuned to Hungarian traditions on several different levels, a close reading of this scene demonstrates that even when Erkel works within well-worn traditions of the international opera stage, he does so in a manner specifically suited to the spirit of nineteenth-century Hungarian nationalism.
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Tárnoki, Ádám Domonkos, Dávid László Tárnoki, Tamás Horváth, Júlia Métneki, and Levente Littvay. "Hungarian twin studies: results of four decades." Orvosi Hetilap 154, no. 40 (October 2013): 1579–86. http://dx.doi.org/10.1556/oh.2013.29707.
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Twin studies play a role in examining the contribution of genetic variations and environmental factors responsible for the determination of phenotypic variables and of genetic linkage between genotypes. Hungarian twin studies, supported by three twin registries (among them two twin-database), date back to 1970s. Studies mainly focused on various congenital abnormalities, the effect of contraceptive pills and folic acid on the frequency of twin pregnancies, as well as psychosexual and alcohol consumptional behaviors. Monogenic Mendelian inheritance of lactose (mal)absorption was demonstrated for the first time. Hungarian Twin Registry was founded in 2007, which contributed to the current understanding on the background of several disorders, e.g. metabolic syndrome and atherosclerosis. As part of an international twin study, among others, arterial stiffness, central blood pressure, carotid intima/media thickness, venous biomechanics, body composition, lung function and smoking characteristics were also assessed. Absence of genetic background in non-alcoholic fatty liver disease and high inheritance of carotid plaque characteristics were demonstrated for the first time. The review also aims to summarize future plans of the Hungarian Twin Registry. Orv. Hetil., 2013, 154, 1579–1586.
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Halász, Júlia, Andrzej Pedryc, Sezai Ercisli, Kadir Ugurtan Yilmaz, and Attila Hegedűs. "S-genotyping Supports the Genetic Relationships between Turkish and Hungarian Apricot Germplasm." Journal of the American Society for Horticultural Science 135, no. 5 (September 2010): 410–17. http://dx.doi.org/10.21273/jashs.135.5.410.
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The S-genotypes of a set of Turkish and Hungarian apricot (Prunus armeniaca L.) cultivars were determined by polymerase chain reaction (PCR) amplification of their S-RNase intron regions. In addition, the S-genotyping method was extended to the SFB gene to detect the non-functional SC-haplotype and hence reliably identify self-compatible apricot cultivars. We determined the complete S-genotype of 51 cultivars and the partial S-genotype of four cultivars. A total of 32 different S-genotypes were assigned to the 51 cultivars, and many of them (28) were classified into newly established cross-incompatibility groups III through XIV. Another 12 cultivars demonstrated unique incompatible genotypes and seven self-compatible cultivars were identified in the examined accessions. The fact that Turkish and Hungarian apricot cultivars carry 12 and five S-alleles, respectively, and all five alleles detected in Hungarian cultivars were also present in Turkish apricots furnished molecular evidence supporting the long-suspected historical connection between Hungarian and Turkish apricots. The connection between these two gene pools appeared to be relatively recent and associated with historical events dating back 300 years. Our results confirm that Turkish germplasm contributed considerably to the development of several desirable Hungarian apricot cultivars. Results suggest that the mutation rendering the SC-haplotype non-functional might have occurred somewhere east of central Turkey.
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Kerékfy, Márton. "Verwendung, Verleugnung, Wiederentdeckung – Ligeti und ethnische Musiken." Studia Musicologica 57, no. 1-2 (June 2016): 35–47. http://dx.doi.org/10.1556/6.2016.57.1-2.3.
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Regarding György Ligeti’s relation to ethnic music, his oeuvre can be divided into three periods. Until 1956 he used East European folk music in the manner of Hungarian composition of the 1940s and 1950s, but upon leaving Hungary he apparently rejected folkloristic inspiration. In his late period from 1978 on, however, ethnic musics became again central to his creative work, albeit in a basically different way than in his youth. This article provides an overview of Ligeti’s early folkloristic pieces and a brief characterization of his use of elements of Eastern European folklore in Le Grand Macabre, Hungarian Rock, Passacaglia ungherese and the Horn Trio. Finally, it traces back Ligeti’s “lamento melody,” that appears for the first time in the last movement of the Horn Trio, to certain types of the Hungarian folk lament. Ligeti’s references to folklore do not mean an idealization of his past, but are rather signs of an ambivalent attitude toward his own roots, in which nostalgic longing, ironic distancing, and desperate mourning are equally present.
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Shishelina, Lyubov. "HUNGARIAN POLICY AGAINST THE BACKGROUND OF THE RUSSIAN SMO." Scientific and Analytical Herald of IE RAS 31, no. 1 (February 28, 2023): 78–86. http://dx.doi.org/10.15211/vestnikieran120237886.
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The Author analyses position of Hungary at the background of an active phase of Russian special military operation in Ukraine. The research is being based on facts as well as on the analyses of public speeches of leading Hungarian politics and publications of known national experts. Like in other Central European countries, Hungary has been worried by Russian propositions to bring back the system of European security to the contours of 1997. Still Victor Orban did not refuse from the visit to Moscow traditionally scheduled to February. In general, position of Hungary ion 2022 can be estimated as neutral to both sides of the conflict. Both special geopolitical situation of the country as well as quite successful pragmatic relations with Moscow. In describing the conflict as well as reaction to it, the author sticks to terminology used in political space of Hungary and Visegrad region.
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Szegedi, Krisztina, and Roland Szilagyi. "Ethics And Compliance Whistleblowing Systems In Hungarian Large Companies." European Scientific Journal, ESJ 12, no. 7 (March 30, 2016): 94. http://dx.doi.org/10.19044/esj.2016.v12n7p94.
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In this research we were looking for the answer to the question whether ethics and compliance whistleblowing systems operating in developed countries can also work in large companies in a central European formerly socialist country where on the one hand ethics institutionalization dates back to a shorter period of time and on the other hand people associate whistleblowing systems with the network of informers and if so, how do they work. The aims of this study are: (1) to introduce the theoretical background the concepts of whistle blowing, (2) to describe the results of international and domestic researches regarding whistleblowing systems, and (3) to use quantitative research methods to investigate the characteristics of whistleblowing systems in large Hungarian companies. The empirical survey indicates that company whistleblowing systems work less efficiently in practice in the surveyed company range which might refer to the deficiency in the external and internal ethics communication as well as to the low level of trust.
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Yefremova, Liudmyla. "Folk Songs of the Central Ukraine: Surprising Cherkashchyna." Materìali do ukraïnsʹkoï etnologìï, no. 20 (23) (December 20, 2021): 126–33. http://dx.doi.org/10.15407/mue2021.20.126.
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Cherkasy Oblast, formed in 1954 from various districts of neighboring oblasts, is an important center of folk songs existence of Central Ukraine, covering a part of the ethnographic territories of Eastern Podillia and Middle Over Dnipro Lands. The history of recording folk songs with melodies on the territory of modern Cherkasy Oblast goes back more than a century and a half. Cherkashchyna is the region where Ukraine has been conceived as a state. The southwestern regions of the oblast belong to the ethnographic territory of Eastern Podillia, the rest belong to the Middle Over Dnipro Lands. Cherkashchyna is the center of the formation and development of a prominent regional cultural tradition, including folk singing. Cherkashchyna is the fatherland of Taras Shevchenko and Bohdan Khmelnytskyi, Ivan Nechui-Levytskyi and Mykhailo Starytskyi. Folk songs of the region have been recorded by Mykola Lysenko, Antin Kotsypinskyi, Oleksandr Koshyts, Andrii Konoshchenko, Klyment Kvitka, Mykhailo Haidai senior, Andrii Shmyhovskyi, Oleksandr Pravdiuk and others. Dialects of Zvenyhorodshchyna have been studied by Ahatanhel Krymskyi. The collections of folk songs by O. Oshurkevych and V. Dubravin have been published under the title Songs of the Shevchenko Region in 2005–2006. The project called Polyphony has been elaborated in 2014 (headed by Hungarian Miklós Both), supported by the European Union’s Creative Europe program. The archive is created in three languages: Ukrainian, Hungarian and English. The Museum of Ivan Honchar has become the moderator of the project from the Ukrainian side. A broad singing of vowels is typical for folk songs. Sometimes singers sing consonants marked with a separate sound in the notations. Performance is characterized by the presence of word breaks of various types. The means of concatenation – an interstanza opening, starting from the second stanza, when the last line of the previous stanza is repeated solo at the beginning of the next one – is considered as one of the signs of a long song style. From the musical point of view, the folk songs of the region combine the features of Eastern Podolian hum and Transdnieper prolonged polyphony.
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Csorba, Péter. "Present tendencies in landscape planning and recognition of the opinion of local citizens on the example of the Tiszazug." Landscape & Environment 15, no. 1 (July 14, 2021): 1–9. http://dx.doi.org/10.21120/le/15/1/1.
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A survey based on online and face-to face interviews with 104 persons who live in the Tiszazug in the central part of the Great Hungarian Plain. According to the answers the character of the landscape here would change dramatically by disappearance of oxbow lakes, floodplain forests and vineries. The decreasing population and aging of the citizens result in decreasing intensity of landuse, increasing number of abandoned buildings and the attractiveness of the landscape is spoiled by illegal waste disposals and weedy water banks.
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Pásztor, Szabolcs. "Monetáris politikai kihívások a szubszaharai régióban." Afrika Tanulmányok / Hungarian Journal of African Studies 13, no. 1-2. (August 20, 2019): 57–74. http://dx.doi.org/10.15170/at.2019.13.1-2.4.
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The monetary policy of the Sub-Saharan countries is a lesser-known field for those Hungarian readers who are interested in Africa. In the last few decades several fundamental changes took place so a short synthesis is badly needed to better understand this issue. Apart from the fact that this study tries to shed light on the monetary policy challenges of different periods, it also places much emphasis on the contemporary issues in central banking.After the turn of the new millenium the central banks have been struggling with unpredictable fiscal policies, the appropriate treatment of the revenues of the natural resources, not to mention the inflow of foreign aid. It is also highly important to monitor the frequency of the supply shocks and the efficiency of the monetary transmission mechanism. After shedding more light on these issues, the paper tries to focus on the role of the exchange rates, the room for manoeuvre of the central banks in the financial stability and the adequate management of the revenues stemming from the export of natural resources.