Unorthodoxy in Hungary: an illiberal success story?

Csaba, László

doi:10.1080/14631377.2019.1641949

Cited by 23 publications

(10 citation statements)

References 19 publications

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“…Beyond official transfers, countries in the region also received significant amount of remittances from those, who went to work abroad primarily to other EU countries. As emphasized by Csaba ( 2019 : 10), the inflow in remittances is often comparable in magnitude to official transfers. In 2020 remittances as % of GDP ranged from 0,9% in Poland to 6,4% in Croatia with an average of 2,47% in the EU-11.…”

Section: Divergent Growth Models In the Eu-11mentioning

confidence: 94%

The middle-income trap in Central and Eastern Europe in the 2010s: institutions and divergent growth models

Győrffy

2021

Comp Eur Polit

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The paper evaluates the convergence paths of Central and Eastern European member states of the EU during the 2010s, when the main task for these countries was avoiding the middle-income trap—when wages are not so low anymore to compete with less developed countries, while innovation is not developed enough yet to compete with developed countries. Using various statistical indicators, the paper shows that while most countries in the region have been on a convergence path during the decade under analysis, not all succeeded in avoiding the trap. While some countries successfully implemented policies to step on the path of productivity- and innovation-led growth (Czechia, Slovenia, Estonia, and Lithuania), in several other states, growth was supported mainly by low costs and loose monetary conditions including significant transfers from the EU. The comparative analysis of Estonia and Hungary illustrates the different growth models and shows how the institutional system plays a key role in exiting the trap.

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Section: Divergent Growth Models In the Eu-11mentioning

confidence: 94%

The middle-income trap in Central and Eastern Europe in the 2010s: institutions and divergent growth models

Győrffy

2021

Comp Eur Polit

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“…At the same time, problems arose with this system. 4 The success of Hungarian reforms was accompanied by internal, retrograde forces and the aversion and counter-interests 2 Small concessions were common primarily in catering, in case of shops and stores.…”

Section: The Basis For a Still Influential Base Dependence: Socialist...mentioning

confidence: 99%

From an active state-led financial policy to an active state-led financial policy : A taxonomical outline of Hungary’s public finances in the past thirty years

Lentner¹

2021

Pro Publico Bono - Magyar Közigazgatás

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The aim of this study is to trace the three-decade-long market economy transition that has replaced the socialist planned economy in Hungary, a process which is divided into two parts by the author. He begins by outlining the harsh, neoliberal methodology of the transition, and the Hungarian fiscal practice which developed from it, built on the application of non-conventional instruments of active government regulation and fundamentally based on the Fundamental Law (Hungary’s constitution) adopted in 2011, particularly its chapter on Public Finances and the cardinal laws pertaining to public finances. The study is a journey through time, encompassing three decades, demonstrating that the Achilles heel of the transition was its dependence on the basic conditions of the socialist planned economic system, which still exert an effect today. It provides an outline of the taxonomical elements of three, significantly different yet interrelated economic eras taking place in a Central European country in less than a century, and draws a macro-economic conclusion. The purpose of the study of more than three decades is to provide a historic set and, based on this, an outlook for the future for prognosis, which is especially important now at the time of Covid-19 problems.

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“…Moreover, after the change of regime, the restrictive economic policy actions were taken during the transition to a market economy to the detriment of society (Lentner, 2020). In particular, the professional scepticism relating to the sustainability of the decade of consolidation after the crisis (Csaba, 2019), and the concerns about the sustainability of the operation of Hungarian enterprises, which are potential philanthropists, (Mihályi & Szelényi, 2019) cast a shadow over the functionality and strengthening of the private sector and the civil society organisations developing from the latter. At the same time, it is a fact that the income positions of the national economy and households improved over the past decade (Matolcsy, 2016), which in turn creates reliable basis for wellbeing increase and overall socioeconomic prosperity of the state (Bilan et al, 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

Innovative solutions in the development of households’ financial awareness: A Hungarian example

Sági¹,

Vasa²,

Lentner³

2020

Economics &Amp; Sociology

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Financial crises put stress on the society of the country of our investigation, whose financial vulnerability is raising from high indebtedness, a history of defaulted loans, and an insufficient level of financial literacy. In this context, financial awareness has been recognised as a means for decreasing households' exposure to financial difficulties, bridging crisis periods with the substantial precautionary holding of liquid assets, and improving their well-being over longer periods of time. Raising financial awareness is a crucial policy aim, and has been investigated in this study as well. A questionnaire survey was completed by Hungarian university students across different majors, to assess the financial literacy level of the responders from their own perspective. In addition to this, we have investigated their e-banking habits. According to our findings, different student groups (clusters) have been identified by means of Ward analysis (where the significance of clusters were tested by ANOVA). Our results confirm that across all clusters the university students place their trust in non-governmental organisations and central bank foundations rather than those of the financial institutions in evolving financial literacy. This outcome of our study may provide an argument for designing policy incentives for raising financial awareness in an institutionalised way, relying on the role of the privately funded NGOs and on the central bank.

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Unorthodoxy in Hungary: an illiberal success story?

Cited by 23 publications

References 19 publications

The middle-income trap in Central and Eastern Europe in the 2010s: institutions and divergent growth models

The middle-income trap in Central and Eastern Europe in the 2010s: institutions and divergent growth models

From an active state-led financial policy to an active state-led financial policy : A taxonomical outline of Hungary’s public finances in the past thirty years

Innovative solutions in the development of households’ financial awareness: A Hungarian example

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