Since the beginning of the transition process, Hungary has attracted a significant amount of foreign direct investment (FDI), although this is unevenly distributed among the twenty Hungarian counties. This paper examines the determinants of FDI at a regional level in Hungary and more particularly assesses the importance of agglomeration effects among determinants. A panel model of the location determinants of FDI in Hungary is developed and estimated. Empirical testing suggests that counties with higher labour availability, greater industrial demand and higher manufacturing density attract more FDI. Surprisingly, higher unit labour costs attract FDI. In addition, inter-industrial agglomeration economies and infrastructure availability are found to be important. JEL classifications: C23, F21, F23, O18, R12.
La sous-traitance internationale de façonnage avec trafic de perfectionnement passif (TPP) se caractérise par l'exportation (d'un pays de l'Union européenne - UE) de biens intermédiaires ou de pièces détachées liée à une ré-importation de produits finis ou semi-finis. L'article en précise les règles et le régime douanier (pour le TPP avec les pays d'Europe de l'Est), les avantages et les inconvénients pour les pays d'origine et les pays d'accueil, les déterminants qui poussent les firmes européennes à délocaliser de cette façon un segment de leur production à l'Est, ainsi que le caractère transitoire de cette modalité de pénétration dans les pays d'Europe de l'Est. L'étude empirique du TPP entre l'ensemble de l'UE et ces pays fait apparaître son déclin relatif de 1993 à 1997, sa concentration sur quatre pays d'accueil et sur peu de secteurs (surtout le textile et l'habillement). Une analyse statistique indique les différences fines de spécialisation dans le TPP, selon les pays de l'Est, par delà la tendance générale à son développement dans des branches d'activité de faible technologie et à forte intensité en travail.
The specific conditions of German reunification have led to reducing the switch from a centrally planned to a market economy in former East Germany to a macroeconomic problem of "catching up". Systemic problems have thus been covered up. Our initial hypothesis affirms, to the contrary, that the new German states should be subjected to studies of a systemic sort. After inquiring into the grounds for the choices made regarding systemic change in East Germany, the question is raised about the extent to which reunification has been a favorable condition. The detours away from initially traced plans and in relation to a social market economy's norms are discussed.
Comparative analysis of direct French and German investments in the Visegrad triangle (Hungary, Czechoslovakia, Poland.
Germany's pre-eminence as an investor in Hungary, Czechoslovakia and Poland, with direct investment flows four or five times higher then that of France, is reflected in significant differences between the two countries as regards the nature of their commitments. Regionally, German investments are mainly directed towards Czechoslovakia, while French direct investments have primarily be channeled to Hungary. In terms of sectors, German investments, above all in manufactures, contrast with the French, which are concentrated in the service sector. And lastly, in terms of structure, the most sizeable concentration of capital invested by the French reflects differences in strategy, with Germany relying on its medium-sized enterprises (« Mittelstand ») to invest in Eastern Europe, while France has recourse mainly to its multinationals.
In addition, analysis of the determining factors in these investments, in terms of comparative advantages of countries, and competitive advantages of firms, must be complemented by a study of determining factors linked to the specific nature of German « Mittelstand » enterprise, which is powerfully aided and supported in its efforts to penetrate Eastern Europe by the public authorities, and by taking account of cultural factors, which operate in favour of" Germany.
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