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1
Kálmán, Botond, and Arnold Tóth. "The Success of Japanese Foreign Market Investments in Hungary." International Journal of Trade, Economics and Finance 12, no. 4 (August 2021): 92–98. http://dx.doi.org/10.18178/ijtef.2021.12.4.700.
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This study examines the recent history and current state of a special area of Japanese-Hungarian economic relations, foreign direct investments (FDI) in Hungary. We reviewed the flow of Japanese capital into Hungary. Foreign direct capital investments can improve productivity on the one hand via technology transfer, and one the other hand, they may have further positive effects through corporate relationships, such as market access or improved financing conditions. Through these means, they strengthen economic growth. When analyzing the data on the historical development of Japanese investment, we showed that the automotive industry plays a dominant role. Based on our results, the influx of Japanese FDI into the Hungarian economy is mutually advantageous to both parties. The most important result for Hungary was economic growth and for Japan, the easier access to the EU markets. Japanese-Hungarian relations are not limited to economic cooperation, they are present in everyday life and continue to grow closer.
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Simon, Károly László, and Katalin Gombos. "National Security Review of Foreign Investments in Hungary." DANUBE 12, no. 2 (June 1, 2021): 77–91. http://dx.doi.org/10.2478/danb-2021-0006.
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Abstract Screening mechanisms as investment policy measures keep gaining importance worldwide. In October 2018, the Hungarian Parliament also adopted rules on the national security review of foreign investments. This paper intends to present the newly introduced Hungarian screening mechanism which is applicable from 1st January 2019. The goal of this article is to determine how the established Hungarian FDI system can be typified, integrated into an existing regulatory model, or whether it carries elements of a multi-layered system, possibly providing a completely new approach to FDI. We conclude that Hungarian new rules on foreign investment control have become more transparent and coherent than in the past. Nonetheless the review process suffers from a number of shortcomings that may hinder the full accomplishment of the predictability and the effectiveness.
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Drynochkin, Alexei V., and Egor A. Sergeev. "EVOLUTION OF FOREIGN DIRECT INVESTMENTS TO HUNGARY." RSUH/RGGU Bulletin. Series Economics. Management. Law, no. 4 (2019): 247–61. http://dx.doi.org/10.28995/2073-6304-2019-4-247-261.
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Tiutiunyk, Inna, Wojciech Cieśliński, Andrii Zolkover, and László Vasa. "Foreign direct investment and shadow economy: One-way effect or multiple-way causality?" JOURNAL OF INTERNATIONAL STUDIES 15, no. 4 (December 2022): 196–212. http://dx.doi.org/10.14254/2071-8330.2022/15-4/12.
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The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country.
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Katona, Klára. "Primary Sources of Corporate Investment in Hungary." Scientific Annals of Economics and Business 64, no. 2 (June 27, 2017): 215–32. http://dx.doi.org/10.1515/saeb-2017-0014.
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Abstract This research aims to reveal how Hungarian companies have financed investments over the last two decades. Which financing strategy characterized them: was internal capital accumulation or external resources, such as bank loans or foreign capital the primary source of corporate investments? The study gives an overview of the conditions typical in the Hungarian financing and capital market over the last 25 years through an empirical analysis. Using a linear regression model, the paper examines the main investments sources among the top 5000 Hungarian firms according to revenues between 1996 and 2014. The model proved that the effect of loans in financing investments was significant and positive in all examined firms, independently from their ownership in the whole period. The rate of indebtedness of foreign companies was mainly attributable to local bank credits and not loans granted by mother companies.
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Sass, Magdolna, and Jana Vlčková. "Just Look behind the Data! Czech and Hungarian Outward Foreign Direct Investment and Multinationals." Acta Oeconomica 69, S2 (December 2019): 73–105. http://dx.doi.org/10.1556/032.2019.69.s2.4.
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There has been an increase in outward foreign direct investment (FDI) and in the number of locally-owned or controlled multinationals in the Czech Republic and Hungary. However, data problems hinder to determine accurately the underlying trends and the main factors behind the changes. Data on outward FDI contain investment realised by all locally operational firms, regardless of their ownership. We rely on newly available balance of payments manual 6 (BPM) data and on company case studies. We show that outward investment by Czech firms must be much higher than what balance of payments data show. Hungary's case is the opposite. The leading Czech and Hungarian foreign investor firms can be categorised as “virtual indirect” foreign investors: they are in majority foreign ownership, but under domestic control. The reason for this special type of firms dominating in outward foreign direct investments can be found in the privatisation technique applied in these countries during the transition process.
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Lansbury, Melanie, Nigel Pain, and Katerina Smidkova. "Foreign Direct Investment in Central Europe Since 1990: An Econometric Study." National Institute Economic Review 156 (May 1996): 104–14. http://dx.doi.org/10.1177/002795019615600109.
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It is widely recognised that foreign direct investment (FDI) may have an important role to play in the transformation of the formerly centrally planned economies of Central and Eastern Europe. FDI provides a vital source of investment for modernising the industrial structure of these countries and for improving the quality and reliability of infrastructure. In addition new investments may also bring badly needed skills and technologies into the host economy. Evidence from joint ventures in Hungary (Lane, 1994) shows that such firms had a higher propensity to trade and invest than purely indigenous firms. Total FDI inflows into Hungary between 1991–93 were equivalent to 25 per cent of total fixed domestic capital formation (UINDTCI, 1995).
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Völgyi, Katalin, and Eszter Lukács. "Chinese and Indian FDI in Hungary and the role of Eastern Opening policy." Asia Europe Journal 19, no. 2 (January 18, 2021): 167–87. http://dx.doi.org/10.1007/s10308-020-00592-1.
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AbstractThe aim of this paper is to assess the main features of Chinese and Indian investments in Hungary and the role of the Hungarian Government’s Eastern Opening policy in the attraction of investments from these two Asian giants. This paper covers the sectoral distribution, modes of market entry, and motivations of Chinese and Indian foreign direct investments. The automotive sector is the most attractive sector for investors from both countries. ICT manufacturing (electronics) and services, and the renewable energy sector are also very attractive for Chinese companies. The same is true for IT/BPO services and the chemical sector in the case of Indian companies. Chinese and Indian companies enter the Hungarian economy mainly through green-field investments or acquisitions. Market-seeking and strategic asset-seeking motives are dominant in the case of investors from both countries. This paper also puts a special emphasis on studying the impacts of Hungary’s Eastern Opening policy (launched in 2012) on Chinese and Indian investments. The findings show that the Eastern Opening policy has had a significant impact on the investment decision (location choice) of new Chinese and Indian investors and further expansion of investments by Chinese and Indian companies located in Hungary due to four factors, namely high-ranking political meetings, strategic cooperation agreements, cash grants from the Hungarian Government and supportive services of HIPA.
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Chetverikova, A. "Investment Ties of Visegrad Countries." World Economy and International Relations 66, no. 3 (2022): 90–100. http://dx.doi.org/10.20542/0131-2227-2022-66-3-90-100.
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The article is devoted to the analysis of the investment ties of the Visegrad Group countries over the last three decades with the emphasis on the period of their EU membership. Transformation and subsequent integration into the EU predetermined certain imbalances in investment sectors of Hungary, Poland, Slovakia and the Czech Republic, some of which still remain. The Visegrad countries continue to be strong importers of capital, but Hungary and the Czech Republic were able to equalize several imbalances, which is manifested in increased export opportunities. The importance of FDI for the Visegrad economies is only increasing, which exacerbates the problem of external dependence and associated risks. The territorial diversification of investment ties is among positive trends, but dependence on several economies of the European market is preserved. A quantitative analysis of sectoral imbalances has shown that the Czech Republic and Hungary have the least diversified outward FDI, Hungary – inward FDI. Slovakia has the most diversified FDI sectoral structure. The analysis of several types of investments indicates a certain exhaustion of the potential of the Visegrad market. Large companies and their projects and deals continue to play a significant role in investment ties of the V4. At the same time, Visegrad companies are not inferior to foreign ones in terms of volume of investments, which is often associated with their sectors of specialization – raw materials. The branch network of Visegrad companies is small compared to the foreign one, which plays a significant role in the V4 labor markets and produces a significant share of production. Investment ties of the Visegrad countries have common features, while maintaining the characteristics of each of them.
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Rodionova, T., S. Yakubovskiy, and A. Kyfak. "Foreign Capital Flows as Factors of Economic Growth in Bulgaria, Czech Republic, Hungary and Poland." Research in World Economy 10, no. 4 (December 22, 2019): 48. http://dx.doi.org/10.5430/rwe.v10n4p48.
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While foreign investment is generally associated with economic growth, it can also pose significant risks to the economies of the recipient countries. An empirical study is carried out to test the causality between various forms of capital inflows and economic growth of four emerging market countries of Central and Eastern Europe: Bulgaria, the Czech Republic, Hungary and Poland. Using the vector autoregression framework it is found that prior to the crisis events in the world economy and euro area capital inflows, especially foreign direct investment, played significant role in boosting economic growth. However, afterwards there is no evidence of such impact and the reverse trend is observed: now economic growth is the factor driving capital inflows, again, mainly direct investments, to the countries. Also, as a result of the steady increase in value of the accumulated assets possessed by foreign investors in national economies negative effects of attracting foreign capital could be observed, which take the form of high volumes of repatriated profits, exceeding received investment and posing new threats for national economies.
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Taylor, Zbigniew, and Ariel Ciechański. "Foreign Direct Investment in non-urban public transport in Visegrad Group (V4) countries." Transportation Overview - Przeglad Komunikacyjny 2018, no. 3 (March 1, 2018): 8–20. http://dx.doi.org/10.35117/a_eng_18_03_02.
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The purpose of this study is to investigate the changes and draw generalizations relating to the processes of foreign direct investments (FDI) in the non-urban public transport in the countries of the Visegrad Group (Poland, Czech Republic, Slovakia and Hungary), after 1989. The processes observed lead mainly to the so-called brownfield investments and cover both bus operators, as well as rail carriers. The focus is placed on comprehensive overview of the activities of the largest investor (the German national railway DB) existing in all four countries of the V4 Group, and leading railway services in the most of the described countries.
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Dementiev, N. P. "Hungary, Poland, the Czech Republic and Russia: Economic Growth and Foreign Direct Investments." World of Economics and Management 17, no. 2 (2017): 26–36. http://dx.doi.org/10.25205/2542-0429-2017-17-2-26-36.
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Tóth-Kmoskó, Éva. "A külföldi tőke és a multinacionális cégek szerepe és a gazdaságra gyakorolt hatása Magyarországon." Jelenkori Társadalmi és Gazdasági Folyamatok 6, no. 1-2 (January 1, 2011): 77–83. http://dx.doi.org/10.14232/jtgf.2011.1-2.77-83.
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Presence of the international companies, alien properties, and the foreign capital in Hungary is under a wide social debate. It is the foreign capital which established Hungary’s long-range development and this capital will significantly influence it in the future, too. After the political transformation reintegration into the world economy, establishment of market economy and modernization of the economic structure realized by foreign investments implied an outstanding potential for further development. However, by today the capital drawing ability of Eastern Europe, and Hungary has declined as a result of which adaption to the new situation, reversal of this trend, our ability to keep the capital, and giving the chance to companies in home property all are of stressed importance. I could conclude that it is absolutely necessary to improve the capital attracting ability of Hungary from the aspect of her future developm ent. It is necessary to become specialized in new fields, in activities which need labour force of high qualification, for example we can aim at location of service, financial and adm inistrative centres within the company groups to our country. It is important to increase the efficiency of subventions. Besides, it is advisable to pay attention to regional development if we want prevent companies from leaving our country after that the subventions have been finished. We should pay more attention to the soft factors f capital attraction. It is necessary to consider what qualitative and quantitative conditions a given area has for example, in the fields of life quality, education and culture.
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Lizińska, Wiesława, and Roman Kisiel. "Pozycja Polski na ścieżce inwestycyjno-rozwojowej na tle wybranych krajów Europy Środkowo-Wschodniej." Przegląd Wschodnioeuropejski 13, no. 2 (January 8, 2023): 68–80. http://dx.doi.org/10.31648/pw.8449.
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The concept of linking the position of a country in terms of inward and outward direct foreign investments and its economic development is the concept of the investment and development path - IDP (The Investment Development Path). The aim of the paper is an attempt to assess the development situation of the Polish economy against the background of selected economies of Central and Eastern Europe, in accordance with the above-mentioned concept. The analysis covers the years 1995–2020 and uses data from UNCTAD and the World Bank. On the basis of changes in the values of NOIP indicators and GDP per capita, it was found that in the case of Hungary and the Czech Republic, identification of the transition to one of the most significant stages on the investment and development path, which is stage III, is not difficult. However, it is debatable to identify the period in which Poland entered such a stage of development. This is due to, inter alia, from the low level of foreign direct investment.
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Gubik, Andrea S., Magdolna Sass, and Ágnes Szunomár. "Asian Foreign Direct Investments in the Visegrad Countries: What Are Their Motivations for Coming Indirectly?" DANUBE 11, no. 3 (September 1, 2020): 239–52. http://dx.doi.org/10.2478/danb-2020-0014.
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Abstract Asian foreign direct investments are significant in the Visegrad countries (Czech Republic, Hungary, Poland and Slovakia). Statistics compiled by the OECD’s new balance of payments manual (BPM6) show that the FDI stock of Asian investors is significantly higher than the data on direct investors suggest, meaning that companies go through intermediary countries before the investment reaches its final destination. The purpose of the article is to analyse why Asian FDI invest through intermediaries rather than directly. The paper analyses the main reasons for this “indirectedness” based on statistical data, other sources and semi-structured interviews with automotive and electronics companies. Our results show that the motivations for using an intermediary country can be manifold. Tax optimisation is often the reason why a company goes through a country with a more favourable regulatory environment. In addition, the geographical distance and global production chain considerations can be important, as well as the aim of companies from emerging countries to conceal the investor’s real origin. The increasing number of acquisitions further enhances the share of indirect investments, as with the acquisition of a foreign parent company the new owner also inherits its subsidiaries.
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Kuttor, Dániel. "New drivers of industrialization and novel aspects of Hungarian-Chinese bilateral cooperation. Chinese foreign investments in Hungary." Tér és Társadalom 36, no. 3 (August 23, 2022): 99–121. http://dx.doi.org/10.17649/tet.36.3.3436.
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A number of foreign, partly East Asian producers have made investments into Borsod-Abaúj-Zemplén county (Northern Hungary) since the millennium. They have contributed to the renewal of the industrial structure and enlargement of manufacturing capacity. In the past decade, the meaning and significance of Chinese investment in the Miskolc agglomeration has increased. Chinese interests have been concentrated in the dominant, export-oriented branches of the regional economy. The companies (namely, Wanhua-BorsodChem, TenPao, SEG-A, JOYSON, and Chervon Auto) comprise a key and real group of members engaged in Hungarian-Chinese bilateral relations. They represent China’s industrial development and expansion around the world and in Europe, as well as strengthen the high-value-added and technology-intensive market segments in the regional economy. The study includes two main parts. In the early sections, the evolution of Chinese economic development with a special focus on industry and industrialization are introduced, while later the related political measures and initiatives are described. Presenting an understanding of the Hungarian government’s reaction (the so-called New Foreign Economic Strategy) is part of the first half of the paper. The Flying Geese Paradigm is the conceptual frame of the synthesis. The key research question concerns the nature of Chinese economic development: Does the development differ from previous East-Asian models of export-oriented industrialization? The author discusses opinions which consider the Chinese developments to be distinct from other Asianones according to their political and market characteristics. In the second half of the article, the Chinese companies settled in Borsod-Abaúj-Zemplén county are evaluated and their regional-level impacts and national-level lessons are identified and assessed. The listed Chinese investments, which differ in financial and legal forms, have emerged as some of the major employers and producers of the region. These considerable investments have accelerated the process of industrial renewal in key branches, although ultimately increasing the exposure and vulnerability of the entire manufacturing structure to external global factors. The Chinese investors are bridging Borsod-Abaúj-Zemplén with diverse regions in China, East Asia. They are generating new results and raising new questions about Hungarian-Chinese bilateral cooperation that represent original experiences and knowledge gain for both sides. This work is an attempt to detail the creation of the cluster of Chinese companies and to draw conclusions about the entrepreneurial background, the main activities, and the stories of the respective Asian parent companies. This research will be continued to support the development and embedding of the enterprises. It is crucial effort, as the latter are not only now present but essential for Borsod-Abaúj-Zemplén and Hungary as well.
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Varmus, Michal, Martin Mičiak, Milan Kubina, Adam Piatka, Marcel Stoják, Alexander Sýkora, and Ivan Greguška. "Determination and Quantification of Foreign Interest in Sports Using Selected Variables for the Support of Appraising Investments in Sports by Businesses and States." Journal of Risk and Financial Management 16, no. 3 (March 1, 2023): 162. http://dx.doi.org/10.3390/jrfm16030162.
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The evaluation of the effectiveness of invested funds requires relevant data. This currently applies to investments in all areas of economic activity, including sports. The article’s aim is to determine the factors applicable to the quantification of interest in sports in selected countries. From the perspective of state funding of sports, foreign interest in sports is a part of the mechanism of allocating resources (situated in the Slovak Republic). For businesses, sponsoring sports organizations is a part of their activities connected to the concept of corporate social responsibility and environmental, social, and governance-related indicators. In both cases, it is important to have the necessary background data so that the entities responsible can correctly evaluate the effectiveness and return on such investments. The Czech Republic, Germany, Poland, and Hungary were selected to determine foreign interest in sports. These variables were selected for data analysis to quantify foreign interest in sports: competitions and tournaments, registered athletes, and keyword searches in Google trends. The variables predetermined the methods of data collection and statistical analysis. The main results lead to more accurate data for decision-making on investments in sports. The most popular sports in the given countries based on the interest quantification were identified.
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Horbachenko, O. "Comparative legal analysis of external functions of Ukraine and Hungary: implementation of experience (Part 1)." Uzhhorod National University Herald. Series: Law 1, no. 72 (November 16, 2022): 24–30. http://dx.doi.org/10.24144/2307-3322.2022.72.4.
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The structure of external functions is the same for most states, the main differences between them are contained in the approaches to their implementation. For Ukraine, which until February 24 was on the verge of a full-scale military invasion and conducted its activities in an almost basic mode, today must not only review its stereotypical tasks, but must create them in a new way. Now a new military battle has begun for Ukraine and Ukrainians, and each component of the function is own separate front of confrontation today. The Ministry of Foreign Affairs of Ukraine is considered as a PR manager of the international level of a specific state. Based on the experience of Hungary and the legislative tasks of the Ministry of Foreign Affairs of Ukraine, which are quite extensive with a wide range of tasks, it is proposed to systematize its competences into six logical groups. The first is to promote the interests of Ukraine and support security and territorial integrity. The second is investments and information space. The third is maintaining ties with legal and physical Ukrainians. The fourth is image formation. The fifth is the EU and NATO. And considering the foreign policy strategy, as a sixth separate group we can highlight the expansion of relations with Africa and Asia, because this is not only a new breath for the renewal of relations, but also a new stage of investment and trade, which is mutually beneficial for both sides. The group's data are priorities for the coming years, and each of these realized directions will help not only in rebuilding the destroyed, but also in creating a new one, otherwise, we can predict that Ukraine will be thrown back decades. Under each of the proposed systematic groups, a specific component of the external function is considered, as a way of realizing the function itself and the goal of the selected group. These components of the external function in this scientific article of the first part are considered foreign-political (diplomatic), foreign-economic and foreign-informational as a comparative analysis with the experience of Hungary. A significant difference is the levels from which they operate. It is not surprising that the de jure level of a European state with all its privileges and disadvantages makes Hungary more stable and protected from external influences, Ukraine is, on the contrary, more vulnerable, because behind Hungary stands the Alliance with the latest weapons developments, behind Ukraine - Ukrainians.
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Kotkowski, Daniel. "Napływ zagranicznych inwestycji bezpośrednich i ich oddziaływanie na gospodarkę Węgier." Kwartalnik Kolegium Ekonomiczno-Społecznego. Studia i Prace, no. 1 (November 28, 2014): 137–51. http://dx.doi.org/10.33119/kkessip.2014.1.6.
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At the turn of century the paradigm of economic development has been changing. Despite the economic instability in the world the process of globalization has not been stopped. The importance of growth factors included in the area of R&D (research and development) increased. These two aspects are also important in the analysis of the economic transition in Central and Eastern Europe (CEE). Factors from R&D area are now perceived as the key conditions for creating knowledge -based economy and for sustainable development. There should also be noted low potential of CEE countries to generate investments in modern sectors of economy based on R&D. In this context, there is increasing importance of foreign direct investment (FDI) as an indirect instrument for strengthening the modernization process of economic structures and providing the basis for sustainable development. In this paper the subject of analysis is the influx of FDI in Hungary and their impact on the economy of the country in the period 1989–2012. The paper also attempts to answer the question on relations between the level and characteristics of the inflow of FDI and structural changes and economic development in Hungary.
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Domonkos, Endre. "The Consequences of Stalinist Economic Policy in Hungary (1949-1953)." Multidiszciplináris kihívások, sokszínű válaszok, no. 1 (August 31, 2022): 3–31. http://dx.doi.org/10.33565/mksv.2022.01.01.
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By 1948, with the eradication of private property ownership and multi-party-system, the institutional background of the Soviet-type dictatorship was created by the Hungarian Workers Party (HWP). In economic terms, forced industrialisation became buzzword, whereas both agricultural and infrastructural development were neglected by the communist leadership. The forced collectivisation in the agriculture, accompanied by the postponement of necessary investments led to a permanent shortage of goods. Compulsory deliveries coupled with the application of the principle of quantity further aggravated the situation of the agrarian sector. As a result of aggressive campaign against the wealthy peasants and forced collectivisation, 300 000 people ceased to work in the agriculture and were employed by industry. Within the centrally planned economy, profitability, cost of production, marketability and quality of products were neglected. Only one principle was taken into account, which was the fulfilment or overfulfilment of the global production plan index and all other criteria were ignored by decision-makers. Foreign trade relations were embedded within the framework of the command economy. Foreign trade corporations were set up and world market prices became hermetically isolated from domestic prices. Within Comecon, the endeavour of the USSR was to reduce any dependency of the socialist bloc on world markets and to achieve self-sufficiency. The introduction of fixed prices in 1950 led to serious price distortions, whilst Hungary depended on increasing import of raw material, which was essential for the development of heavy industry. Therefore, the targets of foreign trade were not fulfilled during the period 1949-53. The irrational economic objectives of the first Five-Year Plan produced lasting damages in the national economy of Hungary.
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Pelle, Anita, and László Jankovics. "Conference Reports." Acta Oeconomica 54, no. 3 (November 1, 2004): 377–86. http://dx.doi.org/10.1556/aoecon.54.2004.3.5.
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(1) The Halle Insitute for Economic Research (Institut für Wirtschaftsforschung Halle, IWH) in cooperation with the European University Viadrina, Frankfurt an der Oder held a conference on 13-14 May 2004 in Halle (Saale), Germany on Continuity and Change of Foreign Direct Investments in Central Eastern Europe. (Reviewed by Anita Pelle); (2) The University of Debrecen, Faculty of Economics and Business Administration in cooperation with the Regional Committee of the Hungarian Academy of Sciences and the Hungarian Economic Association organised an international symposium on the issue of Globalisation: Challenge or Threat for Emerging Economies on 29 April 2004 in Debrecen, Hungary. (Reviewed by László Jankovics)
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Voulgaris, Foivos. "The Missing Link Between Investments and General Foreign Policy: European Discourse Towards China - The Cases of Germany and Hungary." HAPSc Policy Briefs Series 2, no. 2 (December 29, 2021): 223. http://dx.doi.org/10.12681/hapscpbs.29509.
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Horbachenko, Oleksandra. "Comparative-legal analysis of the structure of external functions of Ukraine and Hungary: implementation of experience (part 2)." Analytical and Comparative Jurisprudence, no. 4 (November 27, 2022): 392–97. http://dx.doi.org/10.24144/2788-6018.2022.04.70.
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Now a new military battle has begun for Ukraine and Ukrainians, and each component of the function is own separate front of confrontation today. The Ministry of Foreign Affairs of Ukraine is considered as a PR manager of the international level of a specific state. Based on the experience of Hungary and the legislative tasks of the Ministry of Foreign Affairs of Ukraine, which are quite extensive with a wide range of tasks, it is proposed to systematize its competences into six logical groups. The first is to promote the interests of Ukraine and support security and territorial integrity. The second is investments and information space. The third is maintaining ties with legal and physical Ukrainians. The fourth is image formation. The fifth is the EU and NATO. And considering the foreign policy strategy, as a sixth separate group we can highlight the expansion of relations with Africa and Asia, because this is not only a new breath for the renewal of relations, but also a new stage of investment and trade, which is mutually beneficial for both sides. The structure of external functions is the same for most states, the main differences between them are contained in the approaches to their implementation. For Ukraine, which until February 24 was on the verge of a full-scale military invasion and conducted its activities in an almost basic mode, today must not only review its stereotypical tasks, but must create them in a new way. The group's data are priorities for the coming years, and each of these realized directions will help not only in rebuilding the destroyed, but also in creating a new one, otherwise, we can predict that Ukraine will be thrown back decades. Under each of the proposed systematic groups, a specific component of the external function is considered, as a way of realizing the function itself and the goal of the selected group. In this part of the scientific article, we consider issues within the framework of the following components of external functions: establishing international cultural ties (humanitarian), countering international terrorism and international organized crime, nature protection or Ecological (participation in international environmental protection) function.
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Kozuń-Cieślak, Grażyna, and Ewa Markowska-Bzducha. "Foreign direct investment in the post-communist member states of the European Union: who are the leaders?" Central European Review of Economics & Finance 33, no. 2 (August 31, 2021): 23–34. http://dx.doi.org/10.24136/ceref.2021.005.
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Joining the European Union has been treated as a chance for Poland and other post-communist countries to improve their economic growth and development. It was clear from the beginning that it was going to be a long and demanding process in which success is only possible if appropriate economic policies are pursued. That policy should provide stable frameworks to support business development, attract foreign direct investments (FDI), keep the discipline in public finances and assure the right institutional ability and managerial skills to absorb the EU funds. According to forecasts by The McKinsey Quarterly from 2004, 5% Poland's economic growth rate was to require around USD 10 billion of annual FDI inflow! The aim of this study was identifying the leaders in attracting FDI among post-communist European Union member states in the period of 2004-2020. The research showed a huge variation in attracting foreign capital among eleven post-communist EU members. Estonia, the Czech Republic, Hungary, Slovakia seem to be winners in this race, leaving Poland far behind.
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Owczarczuk, Magdalena. "Institutional competitiveness of Central and Eastern European countries and the inflow of foreign direct investments." Catallaxy 5, no. 2 (December 31, 2020): 87–96. http://dx.doi.org/10.24136/cxy.2020.008.
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Motivation: Central and Eastern European countries (CEE) in spite of a long period of European Union membership and integration with the developed economies of Western Europe are still on the path of convergence, i.e. pursuing the highly developed countries in terms of, among others, GDP per capita. Assuming that the FDI inflow carries numerous benefits for the economic growth of the recipient country, those economies still compete against one another for foreign capital. One of the factors that attracts FDI is high quality of institutional surrounding.
Aim: assessment of institutional competitiveness of the selected CEE countries (Czech Republic, Estonia, Lithuania, Latvia, Poland, Slovakia, Slovenia, Hungary) as well as verification of the relationship between institutional competitiveness and the FDI inflow to the analyzed economies.
Materials and methods: The article reviews positions obtained by the selected CEE countries in the ranking of competitiveness published by Global Economic Forum (Global Competitiveness Report). The analysis and assessment of CEE countries competitiveness focused around the institutional quality assessment. Quantitatively, the connection was revealed between competitiveness ranking in the field of institutions and FDI inflow per capita and FDI as % of GDP to the economies under consideration.
Results: the analysis of the global competitiveness index (GCI) allows to notice that among the CEE countries, Estonia is characterized with the highest institutional competitiveness. The detailed analysis indicated that low social capital quality decreases institutional competitiveness in case of all analyzed economies. The conducted quantitative analysis of the potential link between the GCI?Pillar 1. Institutions index and the inflow of foreign direct investments to CEE countries indicates the positive correlation of those variables. Higher index values (institution quality assessment) corresponds to the higher FDI per capita level and FDI calculated as GDP percentage.
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Vaupot, Zoran. "Development of Clusters in Poland." INTERNATIONAL JOURNAL OF INNOVATION AND ECONOMIC DEVELOPMENT 5, no. 5 (2019): 26–36. http://dx.doi.org/10.18775/ijied.1849-7551-7020.2015.55.2003.
Full textAbstract:
Similar recent history (former communist economies), geographical position (central Europe), relatively small size (except Poland), political systems (parliamentary democracies) and EU membership define Visegrad countries as the perfect group to compare with Slovenia. When we analyse the stock of inward foreign direct investments (IFDI) in comparison to GDP in Slovenia and all Visegrad countries, noticeable differences appear. With 30.5% (December 2016) the stock of IFDI in Slovenia was much lower than the comparable data for Poland (39.4%), Slovakia (48.8%), Czech Republic (60.0%) and Hungary (64.3%). Also the trend of the IFDI share of GDP shows that the differences between Slovenia and Visegrad countries will not diminish noticeably in the forthcoming years. We try to verify whether the explanation of this phenomenon can be realized with the help of well-known cross-cultural models. In other words, is there a country-specific cultural dimension which influences whether Slovenia receives less IFDI than the Visegrad countries? In what ways is this dimension an influence on Slovenia receiving less IFDI? We conclude that the lack of IFDI has to be attributed to Slovenian particularities rather than significant cross-cultural differences when compared to Poland, Hungary, Czech Republic and Slovakia.
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Bąk,, Dr hab Monika. "16+1 initiative from the point of view of Central and Eastern European Countries." Kwartalnik Nauk o Przedsiębiorstwie 47, no. 2 (September 12, 2018): 28–43. http://dx.doi.org/10.5604/01.3001.0012.4727.
Full textAbstract:
The purpose of the article is to evaluate the economic relationships between China and the CEE countries in terms of infrastructure development and interconnections. The analysis applies to 16 CEE countries: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montene-gro, Czech Republic, Estonia, Lithuania, Latvia, Macedonia, Poland, Romania, Slovakia, Slo-venia, and Hungary. The article discusses the aspects of dependence of the 16+1 initiative with the OBOR program, the achievements of the program, the perception of the coopera-tion through direct foreign investments in parti- cular CEE-16 countries. According to the Author, it is necessary to develop more effective mechanisms of cooperation with the use of established secretariats and other institutions and to expand bilateral cooperation of China with individual countries. It would also be beneficial to conduct joint research.
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Misztal, Piotr. "Foreign Direct Investment, Production Factors Productivity and Income Inequalities in Selected CEE Countries." TalTech Journal of European Studies 10, no. 1 (June 1, 2020): 146–72. http://dx.doi.org/10.1515/bjes-2020-0008.
Full textAbstract:
Abstract The issue of global economic inequality has inspired researchers to explore the potential connection between income inequalities and foreign direct investment (FDI), as it is one of the driving forces of globalization. Although there is a large body of theoretical as well as empirical studies linking these variables, the empirical literature on the relationship between FDI, production factors productivity and income inequalities is not conclusive because most scientists treat FDI as uniform. Therefore there is a lack of reliable empirical evidence on the distributional effects of FDI, especially in emerging countries, such as in Central and Eastern Europe (CEE). The research presented in the article fills this gap. The aim of the study is to analyze the impact of the inflow of foreign direct investment on the productivity of production factors (labor, capital and total factor productivity) and income inequality of households in four Central and Eastern European countries (Poland, the Czech Republic, Slovakia and Hungary) in the period 1990–2016. The four countries were selected for analysis as a classic example of European countries transforming their economic structures and similar in terms of the level of economic development. In turn, the choice of the analysis period was related to the availability of necessary statistical data. According to the theory of economics, the inflow of foreign direct investment should have a positive impact on production factors productivity as well as on income inequalities of households in investment receiving countries. In the study, a research method based on the study of economic literature in macroeconomics and international finance and econometric methods (vector autoregression models—VAR) was used. Results of the research suggest a significant and positive impact of greenfield investment inflow on labor productivity and total factor productivity, as well as a positive impact of brownfield investment inflow (mergers and acquisitions) on capital productivity in countries receiving investments. Moreover, the results also revealed the lack of a statistically significant impact of greenfield and brownfield investment on income inequalities in all of the examined countries. The statistical data used in the study came from the statistical databases of the Organization for Economic Cooperation and Development (OECD), the World Bank (World Development Indicators), World Income Inequality Database (United Nations University World Institute for Development Economics Research) and Total Economy Database (The Conference Board of Canada).
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Bilas, Vlatka. "FDI and Economic Growth in EU13 Countries: Cointegration and Causality Tests." Journal of Competitiveness 12, no. 3 (September 30, 2020): 47–63. http://dx.doi.org/10.7441/joc.2020.03.03.
Full textAbstract:
Foreign direct investments are seen as a prerequisite for gaining and maintaining competitiveness. The research objective of this study is to examine the relationship between foreign direct investment (FDI) and economic growth in “new” European Union member countries using various unit root, cointegration, as well as causality tests. The paper employs annual data for FDI and gross domestic product (GDP) from 2002 to 2018 for the 13 most recent members of European Union (EU13): Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. An estimated panel ARDL (PMG) model found evidence that there is a long-run equilibrium between the LogGDP, LogFDI and LogFDIP series, with the rate of adjustment back to equilibrium between 3.27% and 20.67%. In the case of the LogFDI series, long-run coefficients are highly statistically significant in all four models, varying between 0.0828 and 0.3019. These coefficients indicate that a 1% increase in LogFDI increases LogGDP between 0.0828% and 0.3019%. Results of a Dumitrescu-Hurlin panel causality test indicated that a relationship between the GDP growth rate and FDI growth rate is only indirect. Finally, only weak evidence was shown that FDI had a statistically significant impact on GDP in the EU13 countries over the period 2002-2018. This report of findings contributes to the literature concerning FDI and economic growth, namely regarding the current understanding of the relationship between these two factors.
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Szanyi, Miklós. "Varieties of development paths in post communist countries with special regard to the transition in Hungary." Competitio 11, no. 2 (December 17, 2012): 5–25. http://dx.doi.org/10.21845/comp/2012/2/1.
Full textAbstract:
Transition in Central and Eastern Europe was carried out in various ways. However, the different countries’ current economic structure, institutions and main economic performance measures are rather similar. The question asked is whether these countries follow a specific kind of development model? What seems likely is that they differ substantially from CIS countries in many aspects. But they also seem to differ from existing models of capitalism more than they do from each-other. Based on this information, the varieties of capitalism literature assumes that such a model does indeed exist. However, no comprehensive positive description of the model has so far been provided. This paper tries to define the main elements of the CEE capitalist models. These are small open economies, with close integration into the world economy through foreign investments, a relatively limited and declining role of state redistribution, the problems of dual economic structure and insufficient job creation, a relatively large shadow economy and “business capture”-type cronyism. Further research is required to properly describe the elements and interactions among them.
Journal of Economic Literature (JEL) classifications: D72, E65, P31
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Derzhaliuk, M. "Results of Parliamentary Elections in Hungary on April 3, 2022 and Prospects of Ukrainian-Hungarian Relations (Part 1)." Problems of World History, no. 18 (November 8, 2022): 144–86. http://dx.doi.org/10.46869/2707-6776-2022-18-7.
Full textAbstract:
The article is dedicated to the elections to the State Assembly of Hungary on April 3, 2022, which ended with the victory and acquisition of a constitutional majority by the now ruling coalition of Fidesz-Hungarian Civil Union and the Christian Democratic People’s Party (KDNP) - (Fidesz–KDNP).
It analyzes its electoral platform “War or Peace”, the center of which was the attitude to the Russian-Ukrainian war. It is indicated that this war divided the political forces of Hungary into two camps – supporters of neutrality (peace) or supporters of Ukraine (war). The ruling coalition advocated neutrality, non-intervention in the war, which guaranteed the preservation of peace and tranquility for the citizens of Hungary. All the opposition forces showed support for Ukraine against Russia. The authorities accused the latter of the fact that their pro-Ukrainian and anti-Putin activities posed a danger and threatened the spread of the war to the territory of Hungary. It is emphasized that thanks to this position, Fidesz–KDNP won a convincing victory in Hungary as a whole and especially among the Hungarian communities abroad, while the six-party opposition bloc, although it won convincingly in 17 of Budapest’s 18 districts, suffered a significant defeat in the country as a whole.
The main reasons for the unexpected victory of the ruling coalition Fidesz - HDNP in these elections are highlighted. Among them: the coalition flexibly combined centrist and center-right values, synthesized them and rose above narrow party interests, turning into a broad popular front of the Hungarian nation. It is also noted that during the 12-year remaining stay in power in the country, transformations were completed, namely, a new Basic Law (constitution) was adopted, relevant legislation was formed, and a national democratic model of political and economic power was introduced according both to the state and EU standards that complies with state and EU standards. The internal policy was aimed at the development of traditional branches of the economy and the formation of modern forms of management. Relatively high economic development of the country was ensured thanks to by the effective use of foreign investments, international markets, which are far from being limited to EU countries. Hungary develops close cooperation with countries of all regions, if its national interests are ensured. Great attention is paid to the support and protection of Hungarian communities living in countries neighboring Hungary (Romania, Slovakia, Serbia, Ukraine). At the legislative level, the status of Hungarians abroad is almost equal to that of Hungarians in the country itself. The policy of national unity, the recognition of Hungarians, regardless of their residency country of residence, as members of a united single Hungarian nation, gained general approval. The concentration of domestic and foreign policy on the priority of Hungarian interests helped Fidesz to turn into an authoritative and reliable political force of the country, which, using civilized methods, fights for the future of Hungary, the comprehensive development of its people, the preservation of the identity of Hungarian communities abroad, the prevention of assimilation, mass emigration and the restriction of their rights along national lines. In addition, the ruling coalition managed to form a reliable financial, personnel, and media potential, to significantly expand the electoral field of its activities, which no opposition political force is able to compete with, especially during the elections to the State Assembly.
The qualitative composition of the new parliament was analyzed. The progress of the election of the new President of Hungary on March 9, the speaker of the newly elected parliament, his deputies and heads of parliamentary factions on May 2, and finally the Prime Minister of Hungary on May 16 and the approval of the country’s new government headed by Viktor Orbán on May 24, is highlighted.
Great attention is paid to the formation of Hungarian-Ukrainian relations. The analysis of political processes during the election campaign and in the first months after the end of the elections, in particular the attitude of Budapest to the aggression of the Russian Federation against Ukraine, to the formation of Hungarian-Ukrainian relations, allowed us to draw conclusions that the priorities of the international activities of the ruling coalition of Hungary will remain unchanged: serving the interests of the Hungarian nation on in all territories of its residence, in particular support, protection and assistance to Hungarian national communities in Romania, Slovakia, Serbia and Ukraine. The results of the parliamentary elections in Hungary on April 3, 2022 confirmed that these principles are unchanged and continue to be binding in the activities of the Hungarian government institutions.
It is emphasized that the level of development of Hungary's bilateral relations with neighboring states will depend on ensuring the Hungarian foreign communities interests how the interests of the Hungarian foreign communities will be ensured (granting dual citizenship, autonomy status for the community, creating conditions for cultural and educational development based on in the national language and traditions). Hungarian-Ukrainian relations will be in the same condition state. Hungary supports the territorial integrity of Ukraine, its European choice, condemns Russian aggression, supports the EU’s sanctions policy against the Russian Federation, and provided shelter for 800,000 refugees from Ukraine. More than 100,000 people from Ukraine stay are in Hungary illegally. Since July 19, Hungary has allowed the transit of weapons from other countries through its territory to Ukraine. Yet But it continues to maintain neutrality in the Russian-Ukrainian war, supports EU energy sanctions against the Russian Federation in such a way that it does not harm its economic interests. At the same time, it does not agree to the application of certain legal provisions on education the procedure for using the Ukrainian language as the official language on the territory of Ukraine, that came into force in 2017 and 2019 to the Hungarian community of Transcarpathia of a number of provisions of the laws on education and the procedure for using the Ukrainian language as the official language on the territory of Ukraine, which came into force in 2017 and 2019.
It is emphasized that the settlement of cultural and educational issues of the Hungarian community of Transcarpathia should become a priority task for both countries.
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Derzhaliuk, M. "Results of Parliamentary Elections in Hungary on April 3, 2022 and Prospects of Ukrainian-Hungarian Relations (Part 2)." Problems of World History, no. 19 (October 27, 2022): 143–75. http://dx.doi.org/10.46869/10.46869/2707-6776-2022-19-9.
Full textAbstract:
The article is dedicated to the elections to the State Assembly of Hungary on April 3, 2022, which ended with the victory and acquisition of a constitutional majority by the now ruling coalition of Fidesz-Hungarian Civil Union and the Christian Democratic People’s Party (KDNP) - (Fidesz–KDNP).
It analyzes its electoral platform “War or Peace”, the center of which was the attitude to the Russian-Ukrainian war. It is indicated that this war divided the political forces of Hungary into two camps – supporters of neutrality (peace) or supporters of Ukraine (war). The ruling coalition advocated neutrality, non-intervention in the war, which guaranteed the preservation of peace and tranquility for the citizens of Hungary. All the opposition forces showed support for Ukraine against Russia. The authorities accused the latter of the fact that their pro-Ukrainian and anti-Putin activities posed a danger and threatened the spread of the war to the territory of Hungary. It is emphasized that thanks to this position, Fidesz–KDNP won a convincing victory in Hungary as a whole and especially among the Hungarian communities abroad, while the six-party opposition bloc, although it won convincingly in 17 of Budapest’s 18 districts, suffered a significant defeat in the country as a whole.
The main reasons for the unexpected victory of the ruling coalition Fidesz - HDNP in these elections are highlighted. Among them: the coalition flexibly combined centrist and center-right values, synthesized them and rose above narrow party interests, turning into a broad popular front of the Hungarian nation. It is also noted that during the 12-year remaining stay in power in the country, transformations were completed, namely, a new Basic Law (constitution) was adopted, relevant legislation was formed, and a national democratic model of political and economic power was introduced according both to the state and EU standards that complies with state and EU standards. The internal policy was aimed at the development of traditional branches of the economy and the formation of modern forms of management. Relatively high economic development of the country was ensured thanks to by the effective use of foreign investments, international markets, which are far from being limited to EU countries. Hungary develops close cooperation with countries of all regions, if its national interests are ensured. Great attention is paid to the support and protection of Hungarian communities living in countries neighboring Hungary (Romania, Slovakia, Serbia, Ukraine). At the legislative level, the status of Hungarians abroad is almost equal to that of Hungarians in the country itself. The policy of national unity, the recognition of Hungarians, regardless of their residency country of residence, as members of a united single Hungarian nation, gained general approval. The concentration of domestic and foreign policy on the priority of Hungarian interests helped Fidesz to turn into an authoritative and reliable political force of the country, which, using civilized methods, fights for the future of Hungary, the comprehensive development of its people, the preservation of the identity of Hungarian communities abroad, the prevention of assimilation, mass emigration and the restriction of their rights along national lines. In addition, the ruling coalition managed to form a reliable financial, personnel, and media potential, to significantly expand the electoral field of its activities, which no opposition political force is able to compete with, especially during the elections to the State Assembly.
The qualitative composition of the new parliament was analyzed. The progress of the election of the new President of Hungary on March 9, the speaker of the newly elected parliament, his deputies and heads of parliamentary factions on May 2, and finally the Prime Minister of Hungary on May 16 and the approval of the country’s new government headed by Viktor Orbán on May 24, is highlighted.
Great attention is paid to the formation of Hungarian-Ukrainian relations. The analysis of political processes during the election campaign and in the first months after the end of the elections, in particular the attitude of Budapest to the aggression of the Russian Federation against Ukraine, to the formation of Hungarian-Ukrainian relations, allowed us to draw conclusions that the priorities of the international activities of the ruling coalition of Hungary will remain unchanged: serving the interests of the Hungarian nation on in all territories of its residence, in particular support, protection and assistance to Hungarian national communities in Romania, Slovakia, Serbia and Ukraine. The results of the parliamentary elections in Hungary on April 3, 2022 confirmed that these principles are unchanged and continue to be binding in the activities of the Hungarian government institutions.
It is emphasized that the level of development of Hungary's bilateral relations with neighboring states will depend on ensuring the Hungarian foreign communities interests how the interests of the Hungarian foreign communities will be ensured (granting dual citizenship, autonomy status for the community, creating conditions for cultural and educational development based on in the national language and traditions). Hungarian-Ukrainian relations will be in the same condition state. Hungary supports the territorial integrity of Ukraine, its European choice, condemns Russian aggression, supports the EU’s sanctions policy against the Russian Federation, and provided shelter for 800,000 refugees from Ukraine. More than 100,000 people from Ukraine stay are in Hungary illegally. Since July 19, Hungary has allowed the transit of weapons from other countries through its territory to Ukraine. Yet But it continues to maintain neutrality in the Russian-Ukrainian war, supports EU energy sanctions against the Russian Federation in such a way that it does not harm its economic interests. At the same time, it does not agree to the application of certain legal provisions on education the procedure for using the Ukrainian language as the official language on the territory of Ukraine, that came into force in 2017 and 2019 to the Hungarian community of Transcarpathia of a number of provisions of the laws on education and the procedure for using the Ukrainian language as the official language on the territory of Ukraine, which came into force in 2017 and 2019.
It is emphasized that the settlement of cultural and educational issues of the Hungarian community of Transcarpathia should become a priority task for both countries.
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Čičak, Krešimir, and Petar Sorić. "The Interrelationship of FDI and GDP in European Transition Countries." International Journal of Management Science and Business Administration 1, no. 4 (2015): 41–58. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.14.1003.
Full textAbstract:
Theory states that the foreign direct investments (FDI) have multiple positive effects on a country’s economy. Evidence can be sought from Central and Eastern European countries where FDI is seen as one of the main contributors to GDP growth. This paper examines the relationship between FDI and GDP growth rate in Croatia and other chosen European transition countries using bivariate VAR models. Based on the research conducted, it was found that FDI Granger causes GDP growth in most countries. This is especially true in Poland, Czech Republic and Hungary which have attracted a significant amount of FDI starting from 1990. The estimated VAR models for Latvia and Slovenia provide evidence that GDP causes FDI, corroborating the theory that investor are prone to stable macroeconomic conditions. This paper tries to make a comparative analysis of FDI-GDP link in New EU member states. Further research should certainly include other aspects such as the quality of the legislative system, labor productivity and labor costs, access to capital markets, etc.
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Nagy, Csilla. "Situation of small and middle sized enterprises in Northern Great Plain Region." Acta Agraria Debreceniensis, no. 47 (July 18, 2012): 69–72. http://dx.doi.org/10.34101/actaagrar/47/2429.
Full textAbstract:
Most of the enterprises operating in Hungary belong to the group of small and medium enterprises (SMEs) which means that their total number of staff is less than 250. The aim of the study is to examine SMEs operating within the North Great Plain region. It provides a short summary of the general characteristics of the region, the situation and significance of SMEs based on the data 2009 and it also clarifies the relevant definitions. The data shows that the enterprise type that is most characteristic in the the region is joint venture (the most popular type is Ltd). It can be laid down as a fact that the number of micro and sole entrepreneurs is also significant in the area. It is also clear that the majority of small enterprises dealswith commerce, while most of the medium enterprises are involved in industry (processing industry). As a continuation of the examination, size of investments, influx of foreign capital, ratio of employed people and grant opportunities are also to be evaluated since these factors influence the operation of enterprises as well.
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Vlad, Cristina, and Petre Brezeanu. "Fiscality - A Relevant Factor Influencing Regional Development in Romania and the European Union." Studia Universitatis „Vasile Goldis” Arad – Economics Series 26, no. 2 (June 1, 2016): 48–62. http://dx.doi.org/10.1515/sues-2016-0009.
Full textAbstract:
Abstract The paper aims to examine taxation in the EU in correlation with regional development measures implemented. We started with the EU vision on regional development. If during the 2007-2013 period, were pursued three major objectives (convergence, regional competitiveness and territorial cooperation), in the current 2014-2020 funding period, money is allocated differently between countries that are deemed to be more developed, in transition and less developed. These categories are set according to GDP per capita. Next we exposed the fiscal changes made in the EU in 2010-2011 period and then we corelate them with the strategy for regional development for five member states: Romania, Bulgaria, Czech Republic , Hungary and Poland. We used data reported by Eurostat regarding the evolution of unemployment rate and for the foreign direct investments in 2007-2012 period. We also brought up and changes required by the new Romanian Fiscal Code. According to it, measures such as reduction of income tax for new micro enterprises or extending the VAT reverse charge mechanism in many sectors of activity, are meant to encourage foreign capital inflows and also to increase the level of regional development. As a general conclusion, we found that there is a direct link between fiscal policy and regional development; fiscal measures implemented influence the level of unemployment, economic growth, and competitiveness in the private sector.
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Harsányi, Endre, Gergely Harsányi, and Attila János Nagy. "Regional Development Differences in Hungary and the Northern-Great Plain Region." Acta Agraria Debreceniensis, no. 18 (March 4, 2005): 62–71. http://dx.doi.org/10.34101/actaagrar/18/3261.
Full textAbstract:
The most important endeavour of European Union’s regional policy is to moderate disparities. An emphasised strategic objective of member states, based on the principle of solidarity, fairness and justice, is to develop regions and almost forty percent of the common budget is devoted to achieving this objective.Hungary, as a full EU member state, will get a new chance for underdeveloped regions, especially for the Eastern-Hungarian as well as the North Hungarian and North Plain Region.The differences in development among the regions are significantly influenced by the economic characteristics of the specific region, quality and quantity of human resources, accessability of the region and other factors influencing local quality of life beside natural conditions.The new spatial structure was formed by change of regime, processes of the nineties, primarily the economic renewal based on foreign capital investments and the crisis phenomena in parallel with these. The economic, political and social consequences of the transformation significantly changed spatial structure and increased disparities. New disparities formed which were further aggravated as a consequence due to the formation of the eastern-western slope and local crisis zones. As a result of the outstanding development of the capital, the long term differentiation of regional development differences can also be detected when examining the regional distribution of Hungarian gross domestic product. The collapse of heavy industry and agricultural mass production based on the eastern markets primarily affected the north-east counties in the eastern part of the country.Strengthening regional competitiveness is of key importance for the region, which requires the application of consistent development policy. The most important is economic development which, if it operates well, also infers the possibility of establishing welfare infrastructures. Drawing in external sources to ease the significant lack of capital is important for the processing industry and the development of supplier networks. Agricultural development also plays an important role in transforming economic structure, since the characteristics of the region, its traditions and long term competitive advantages are favourable, therefore it is going to represent a higher ratio within the economy than the EU average. The modernisation of the agricultural sector can be promoted by supporting market accession, quality agricultural production and stimulating producer-retailer cooperation. The development of transportation and informatics infrastructure as well as human resource development plays a significantly important role in the development of the region.In conclusion, the implementation of such a consistent regional development policy is required in the future, based on the strengths of the region, that serves the most efficient utilisation of regional development funds through the implementation of regional policy principles and prevents the irreversible decay of the region while promoting rapid development.
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Floroiu, Otilia Georgiana. "INNOVATION FOR GROWTH: EVIDENCE FROM CEE EUROZONE CANDIDATES." Oradea Journal of Business and Economics 5, Special (June 2020): 124–34. http://dx.doi.org/10.47535/1991ojbe103.
Full textAbstract:
This paper analyzes the European innovation framework focusing on four Eurozone candidates: Romania, Poland, Hungary, and Czech Republic. In the last decades, almost two-thirds of Europe’s economic growth has been driven by innovation. This idea is supported by impressive scientific findings concerning the correlation between innovation and economic growth. We believe that better innovation performance stimulates economic convergence and in the long term, facilitates the candidates’ transition towards Euro currency adoption. The countries in the study demonstrate a low innovative performance pattern, as our SWOT analysis will show. First, the gross domestic expenditure on research and development levels are far below the Union average. Secondly, there is a lack of cooperation between the academic and business sector, leading to a decreasing number of skilled personnel in the innovation industries. Lastly, these countries are suffering from an incoherent strategy aimed at reducing the productivity gap between domestic and foreign-owned firms. In order for these CEE Eurozone candidates to improve their European Innovation Score and their competitiveness, we recommend increasing investments in R&D, infrastructure, education, healthcare, clean energy and shifting towards higher value-added activities. We are also suggesting supporting digital innovation hubs, the creation of new companies, and facilitating access to finance for small and medium-sized businesses.
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Becsey, Zsolt. "Central European preparation for the European integration." Zbornik radova Pravnog fakulteta, Novi Sad 55, no. 4 (2021): 1285–300. http://dx.doi.org/10.5937/zrpfns55-33210.
Full textAbstract:
In addition to the author's scientific work, the study -based on pragmatic experiences -analyses the factors that characterized Central European countries before the change of regime (1990) and then the foreign economic model through which Poland, Hungary, the Czech Republic and Slovakia ("Visegrád 4") reached EU membership in 2004. The study highlighted that, with different depths, in all countries concerned economic policies were characterized by liberal bankruptcy regulations and strict conditions of competition, so that they could prove their ability to meet the condition of a functioning market economy for EU membership1. The export-oriented model, built on efficient inflow of foreign direct investment and high-tech in the early 1990s, was implemented by the late 1990s to demonstrate that these states were ready to meet another condition of EU membership, namely to meet the challenges of the internal market.2 This transformation represented a problem for the current account balance in the 1990s (mainly due to the loss of traditional national export capacities) only in the middle of the decade, and it was only at the end of the decade that trade balances showed surplus with the EU. The total external equilibrium of the Visegrád countries was maintained by the fact that the inflow of FDI had not yet started to conclude in the withdrawal of profits from recent investments in Central Europe, and the countervailing effect of EU net transfers, which began to arrive later parallelly with the start of the withdrawal of FDI dividends. The CEFTA co-operation concluded in 1992 followed the economic liberalization timetable of that of the Visegrád Four with the EU parallelly but did not go beyond its depth for political prudence, thus providing full opening to each other only after and through EU membership, more precisely the liberalisation in services or in sensitive agricultural trade. The CEFTA treaty was expanded to the Balkans after 1995 and has been and is still a good example for countries that do not want to stay in an ex-Soviet or ex-Yugoslav economic integration but is a good method for them to prepare for the earliest possible EU membership.
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Zakharchenko, Petro. "Russia's sanctions policy in the context of the First World War." Uzhhorod National University Herald. Series: Law, no. 68 (March 24, 2022): 9–13. http://dx.doi.org/10.24144/2307-3322.2021.68.1.
Full textAbstract:
The article is devoted to the analysis of the sanctions policy of the Russian Empire towards the countries that were its opponents in the First World War. Such states included Germany, Austria-Hungary, Bulgaria, and Turkey, which joined forces in the military bloc of the Central Powers to fight the Allies.
The victories of the member states of the Entente bloc were forged not only on the fronts, but also achieved through the partial or complete abolition of trade, financial and economic relations with the countries of the Fourth Bloc. The aim of this paper is to study and comprehend the experience of imposing sanctions by the Russian Empire against states that participated in the war against it during the war of 1914-1918. , which is waging a long-running hybrid war with Ukraine. The article demonstrates an example of an adequate response of state institutions to encroachment on the territorial integrity and sovereignty of the country. It has been proved that immediately after the start of hostilities, measures were taken against the subjects of the states fighting against Russia to limit their legal capacity and legal capacity. They could be deported both outside the country and outside its individual localities.
These people were allowed to enter Russia only with the permission of the relevant authorities. Merchant ships of countries fighting against Russia, seized in Russian ports, were detained. Merchant ships built for foreign countries were confiscated and converted for military purposes.
Investment policy has also been revised. This is confirmed by the approval by the Russian emperor in 1915 of the Regulations on the Liquidation of Trade Enterprises Belonging to Enemy Citizens, which referred to the liquidation of enterprises and joint-stock companies that co-owned with Russian nationals. It is noteworthy that only those enterprises that operated at the expense of German, Austrian, Hungarian or Turkish investments were subject to liquidation. Other normative legal acts abolished the right of ownership of land of the same group of foreign citizens.
The result of the scientific article was the conclusion that by applying the emergency legislation, the Russian government did everything possible to prevent national security from financing the citizens of those countries that were at war with it.
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Yıldırım, Seda, Durmus Cagri Yildirim, and Hande Calıskan. "The influence of health on economic growth from the perspective of sustainable development: a case of OECD countries." World Journal of Entrepreneurship, Management and Sustainable Development 16, no. 3 (April 17, 2020): 181–94. http://dx.doi.org/10.1108/wjemsd-09-2019-0071.
Full textAbstract:
PurposeThis study aims to explain the role of health on economic growth for OECD countries in the context of sustainable development. Accordingly, the study investigates the relationship between health and economic growth in OECD countries.Design/methodology/approachThis study employed cluster analysis and econometric methods. By cluster analysis, 12 OECD countries (France, Germany, Finland, Slovenia, Belgium, Portugal, Estonia, Czech Republic, Hungary, South Korea, Poland and Slovakia) were classified into two clusters as high and low health status through health indicators. For panel threshold analysis, the data included growth rates, life expectancy at birth, export rates, population data, fixed capital investments, inflation and foreign direct investment for the period of 1999–2016.FindingsThe study determined two main clusters as countries with high health status (level) and low health status (level), but there was no threshold effect in clusters. It was concluded that an increase in the life expectancy at birth of countries with higher health status had no significant impact on economic growth. However, the increase in the life expectancy at birth of countries with lower health status influenced economic growth positively.Research limitations/implicationsThis study used data that including period of 1999–2016 for OECD countries. In addition, the study used cluster analysis to determine health status of countries, and then panel threshold analysis was preferred to explain significant relations.Originality/valueThis study showed that the role of health on economic growth can change toward country groups as higher and lower health status. It was proved that higher life expectancy can influence economic growth positively in countries with worse or low health status. In this context, developing countries, which try to achieve sustainable development, should improve their health status to achieve economic and social development at the same time.
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Glinkina, Svetlana P., and Nataliya V. Kulikova. "To Economic Patriotism: New Trends in Post-Socialist Countries – EU Members." Economics of Contemporary Russia, no. 2 (July 17, 2019): 131–49. http://dx.doi.org/10.33293/1609-1442-2019-2(85)-131-149.
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The paper analyzes the premises and impacts of dependent capitalism model formation in Central-East European (CEE) countries, new EU members; the model is based on large-scale inflow of foreign investments and coordination of economic ties by hierarchies of transnational corporations. It is stated that CEE countries’ leaderships run into a neoliberal democracy paradox, i. e. the need to meet citizens’ social demands while exercising ever less control over national economies. The prospects of dependent capitalism model continuance in the region are assessed under new post-crisis trends in world economy, in particular, in view of reduction of transborder capital flows and decelerating international trade growth.The sources of economic growth operationalized in CEE countries in order to evolve from long-running stagnation they found themselves in after the world financial crisis, are researched. It is proved that reliance on growing domestic consumption accompanied by weaker export orientation of the economy leads to CEE countries losing their important comparative advantages. The higher-than-anticipated growth of wages compared to labour productivity growth, depletion of reserves in utilization of labour resources cause deterioration of regional economy competitiveness.Special attention is paid to analyze the premises of spreading of economic nationalism ideology in the region. Exemplified by Hungary, years long leader among CEE countries in foreign capital inflow, tools are demonstrated which are applied in the framework of economic policy aimed to restore state control over market economy; an attempt is made to evaluate the effectiveness of this policy. The conclusion is drawn that – contrary to liberal dogmata dominating in economic theory – making use of tools of economic nationalism can be rather efficient even under conditions of small size post-socialist countries of Europe.
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de Kort, Joop. "Foreign Direct Investment in Hungary." Journal of East-West Business 5, no. 3 (January 17, 2000): 81–94. http://dx.doi.org/10.1300/j097v05n03_05.
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Tsaurai, Kunofiwa. "Foreign Direct Investment Dynamics in Hungary." Journal of Economics and Behavioral Studies 9, no. 6 (January 15, 2018): 122–31. http://dx.doi.org/10.22610/jebs.v9i6.2010.
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The study discussed the dynamics of FDI in Hungary during the period from 1991 to 2015. The impact of FDI, FDI trends and determinants of FDI in Hungary were discussed. Empirical literature observed that FDI positively influenced economic growth in Hungary through boosting human capital development levels, total factor productivity, economic transformation, innovation, research and development, additional capital in the economy, modern technology, increased volume of additional capital and technology transfer. The study also revealed that most of the net FDI inflow into Hungary originated from developed countries and the least FDI net inflow came from transitional economies during the period under study. The general trend of FDI net inflow into Hungary followed a mixed pattern, with some years experiencing a positive net FDI inflow whilst other years were characterised by negative net FDI inflows. What is clear however is that FDI net inflow was consistently positive and experienced a positive growth following the integration of Hungary into the EU bloc of countries? The accession of Hungary into the EU removed barriers for the movement of capital, people, goods and services within the EU, reduced the cost of doing business and improved trade openness. These are the key locational advantages of FDI which improved FDI inflow into Hungary for a sustained period of time after the EU accession. The study also empirically tested the determinants of FDI in Hungary using the OLS multiple regression model with data ranging from 1991 to 2015. In contradiction to most previous studies on the subject matter, trade openness and financial development were found to have had a negative influence on FDI. The study also observed that inflation had a positive influence on FDI, contrary to Sayek (2009) who revealed that higher inflation levels erodes the foreign investors’ profits, thereby making the host country not an attractive investment destination. However, exchange rate, education and economic growth had a positive but non-significant impact on FDI in Hungary, consistent to both theoretical and empirical literature. The implication of the study is that the Hungarian authorities are urged to design and implement policies aimed at improving education and economic growth in order to attract more FDI. Practical steps need to be taken by the Hungarian authorities in making sure that the value of the local currency is not overvalued and that trade openness is controlled and managed so that it does not reach a point where it begins to negatively affect FDI inflows.
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Nicole Wassenberg. "Transatlantic Trade and Investment Partnership (TTIP): The Possible Impact on the European Union and North America." Journal of Advance Research in Business Management and Accounting (ISSN: 2456-3544) 2, no. 8 (August 31, 2016): 01–08. http://dx.doi.org/10.53555/nnbma.v2i8.92.
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The Transatlantic Trade and Investment Partnership (TTIP) is projected high-standard and inclusive free trade agreement which is being conversed between the United States (US) and European Union (EU). Transatlantic Trade and Investment Partnership is a chain of trade negotiations operating between EU and US. The TTIP is mainly about decreasing the regulatory obstacles to trade to open up a way for bigger businesses such as environmental legislation, food safety, sovereign powers of the individual nations and also banking regulations. The US and EU are two of the most integrated countries when it comes to economy globally. It is as a result of their trade in services, investments and the high commercial presence in each other's financial prudence. These two regions support each other when it comes to the economy, and that's why they are good trading partners in products and services. The EU and U.S trade and investment partnership which is sometimes referred to as transatlantic economy has a significant global relationship and creates a mutually beneficial understanding between the two states (Hoekman and Kostecki, 2009). The TTIP is one of the largest trade and investment partnership in the world and also the most significant because of its absolute size. It has many for example the European Union has 28 member states which include: Bulgaria, Cyprus, Belgium, Austria, Czech Republic, Estonia, Germany, Denmark, Finland. Greece, Ireland, Hungary, Italy, Netherlands, Poland, Slovenia, Lithuania, Romania, Spain, Latvia, Sweden, Portugal and United Kingdom are also part of the partnership. The initial negotiations on TTIP which was to become the first largest bilateral free trade and investment partnership agreement were earlier supported by a paramount and independent study of the Center for Economic Policy Research (CEPR). The study by CEPR was called Reduction of the Transatlantic Barriers to Trade and investment. The negotiations were mainly to provide independent advice to the two negotiators based on the additional research. Despite, TTIP being one of the largest trade and investment partnership, it has created both negative and positive impacts on the two states. There are benefits t being enjoyed by the member states such as job creation and home growth. The EU depends on the US exports; they can get investments from the US and also import the goods and services they require (Khanna, Palepu, and Sinha, 2005). Other positive impacts of the TTIP includes; upholding and promoting human rights, governing in a transparent manner that can hold to account individuals in authority and also has markets that can be open to free and reasonable competition and is well-regulated market areas. TTIP also protects the people and the planet through their international rules. For example, the rules look at everyone's health, their condition at workplaces, the endangered species around them and the entire environment. There are also challenges that have come out from TTIP in the field of politics and economics, poor labor standards, workers' rights and security of their workplaces, democracy, and state authority. Foreign shareholder protection, public health and the environment as a whole, health care, consumer safety and food security, climate change and environment protection, banking regulation and privacy and many others. Some competitors challenge the TTIP on slowness in services than in goods leading to difficulty in opening markets in service areas.
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Pogany, I. "The Regulation of Foreign Investment in Hungary." ICSID Review 4, no. 1 (March 1, 1989): 39–62. http://dx.doi.org/10.1093/icsidreview/4.1.39.
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Bélyácz, Iván, and Mónika Kuti. "Foreign direct investment and external debt in Hungary." Society and Economy 31, no. 2 (December 1, 2009): 211–34. http://dx.doi.org/10.1556/socec.31.2009.2.4.
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Young, Craig. "Meeting the New Foreign Direct Investment Challenge in East and Central Europe: Place-Marketing Strategies in Hungary." Environment and Planning C: Government and Policy 23, no. 5 (October 2005): 733–57. http://dx.doi.org/10.1068/c0537.
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The attraction of foreign direct investment (FDI) has become a major economic development goal of the postsocialist countries of East and Central Europe (ECE). ECE countries have rapidly adopted ‘Western’-style place-marketing policies to attract FDI. However, little is known about place marketing under postsocialism, and particularly in the context of an enlarged European Union; hence the author presents an analysis of the supply-side policies which Hungary has developed in response to its rapidly changing position with regard to FDI. In particular, he examines the strategies developed by two key agencies responsible for attracting inward investment, the Ministry of Economy and Transport and the Hungarian Investment and Trade Development Agency. Hungary's current position in respect to patterns of attracting FDI is evaluated and, through outlining the key changes in the nature of FDI, a set of key issues which must be addressed in any place-marketing strategy in ECE is developed. The author then analyses how these two key agencies have responded to this new FDI context. The author assesses how Hungary has been able to address the new FDI context and also considers how FDI and attempts to attract it is reshaping supply-side policies, and postsocialist states themselves.
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Ferreira, Letícia Figueiredo. "O Território Econômico Alemão na Europa Central: análise dos investimentos estrangeiros recebidos pelo Grupo de Visegrado a partir de Hilferding | The German Economic Territory in Central Europe: analysis of foreign investments received by the Visegrado Group based on Hilferding." Mural Internacional 12 (June 10, 2021): e58878. http://dx.doi.org/10.12957/rmi.2021.58878.
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Formado por Polônia, Hungria, República Tcheca e Eslováquia, o Grupo de Visegrado é uma área privilegiada de destino dos investimentos alemães, integrando com a indústria alemã a maior cadeia produtiva da Europa. Visando responder como se organizam as relações econômicas entre o grupo e a Alemanha, apresentamos a hipótese de que Berlim converteu os países da Europa Central em parte do seu território econômico através de exportações massivas de capital. O objetivo deste artigo é analisar as relações de produção entre Alemanha e Visegrado, de modo a lançar luz sobre a posição de dependência do último. Como referencial teórico, recorremos à obra de Hilferding (1910) e, como metodologia, empregamos uma análise quantitativa dos fluxos de capitais alemães para a região, além de uma análise qualitativa dos efeitos desse processo. Esperamos demonstrar que o grupo desempenha o papel de fábrica dos produtos alemães para o mercado europeu.Palavras-chave: Visegrad Group; Germany; economic territory.ABSTRACTFormed by Poland, Hungary, the Czech Republic and Slovakia, the Visegrad Group is a privileged area of destination for German investments, integrating with the German industry the lar-gest supply chain in Europe. Aiming to answer how the economic relations between the group and Germany are organized, we present the hypothesis that Berlin converted the countries of Central Europe into part of its economic territory through massive capital exports. This article’s purpose is to analyze the production relations between Germany and Visegrad, in order to shed light on the latter's dependent position. As our theoretical framework, we resort to the work of Hilferding (1910) and, as our methodology, we employ a quantitative analysis of German capital flows to the region, as well as a qualitative analysis of the effects of this process. We expect to demonstrate that the group plays the role of a factory for German products in the European market.Keywords: Visegrad Group; Germany; economic territory. Recebido em: 02 abr. 2021 | Aceito em: 08 jun. 2021.
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Sysoieva, I., O. Miklukha, N. Pozniakovska, О. Balaziuk, O. Miklukha, L. Akimova, and B. Pohrishchuk. "SOCIAL INNOVATIONS IN THE EDUCATIONAL SPACE AS A DRIVER OF ECONOMIC DEVELOPMENT OF MODERN SOCIETY." Financial and credit activity: problems of theory and practice 3, no. 38 (June 30, 2021): 538–48. http://dx.doi.org/10.18371/fcaptp.v3i38.237486.
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Abstract. The main provisions of the conceptualization of the introduction of social innovations in education and science, which constitute the internal content and is one of the main essential forms of economic development of modern society, are substantiated.
It has been studied that the leading countries in terms of the number of the most innovative companies in the world are industrialized countries, high-income countries, as the United Kingdom (not a member of the EU since 2020), Ireland, Cyprus. However, Bulgaria, Italy, Malta, Germany, Portugal, Slovakia, Hungary, Croatia and the Czech Republic remain the least educated countries in recent years.
There is a need for in-depth reforms of the education system and focusing on additional research missions. and business activities.
It has been proven that one of the most important and widespread elements of the architecture of innovation infrastructure in the world, which is a supply component, is higher education institutions (HEIs), and the largest number of leading universities is in the United States and the United States. Kingdom. The role of social initiatives in increasing the competitiveness of Ukrainian higher education institutions is highlighted. budget funds in the future. The normative basis for such implementation may be the EU Public Procurement Directive.
Based on a study of foreign experience in innovation, it was found that to stimulate innovation of domestic enterprises is important to improve the legislation governing issues related to innovation; improvement of innovation structure: creation of innovation centers, consulting centers, innovation banks; development of development programs and active state support of innovatively active enterprises and financial stimulation of competitiveness of Ukrainian universities and increase of motivational incentives for teachers of educational institutions.
Keywords: social sphere, innovations, innovation project, rating of world innovations, investments, sustainable development, innovations in education.
JEL Classification M41, H20, Н44, А1
Formulas: 0; fig.: 1; tabl.: 7; bibl.: 13.
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Rahman, Manzur, and Claudio Carpano. "An Assessment of Foreign Direct Investment Opportunities in Hungary." Journal of East-West Business 3, no. 1 (May 15, 1997): 63–77. http://dx.doi.org/10.1300/j097v03n01_05.
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