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An FDI-based development model for Hungary - new challenges?

Author

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  • Miklos Szanyi

    (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)

Abstract

Hungary has taken an FDI-oriented development path during its transition process. The economy has become highly internationalized and largely controlled by foreign-owned firms, which have contributed much by modernizing production, reorienting markets and transferring expertise. However, the initial surge of development seems to be ending, at least in the form it took in the 1990s. Signs of saturation are visible, and the question now is how to open a new chapter of FDIoriented development. Investment and operation will have to shift towards more sophisticated activities. To effect such changes, Hungary must offer enough qualified labour and an adequate infrastructure. Moreover the investment incentive system needs overhauling, as entry into the EU will outdate otherwise efficient incentives. Efforts must go into organizing the economy according to the National Development Plan, as a backbone for the EU assistance available.

Suggested Citation

  • Miklos Szanyi, 2003. "An FDI-based development model for Hungary - new challenges?," IWE Working Papers 141, Institute for World Economics - Centre for Economic and Regional Studies.
    • Handle: RePEc:iwe:workpr:141
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    File URL: https://vgi.krtk.hu/publikacio/no-141-2003-12/
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    Citations

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    Cited by:

    1. Miklos Szanyi & Ichiro Iwasaki & Balazs Lengyel, 2011. "Industrial concentration, regional employment and productivity growth - evidence from the late transition period of Hungary," IWE Working Papers 195, Institute for World Economics - Centre for Economic and Regional Studies.
    2. Miklós Szanyi, 2013. "Large-Scale Transformation of Socio-Economic Institutions – Comparative Case Studies on CEECs. Background Paper 3: Varieties of Capitalism and CEECs. WWWforEurope Working Paper No. 19," WIFO Studies, WIFO, number 46874, April.
    3. Miklós Szanyi, 2010. "Industrial Clusters: Concepts and Empirical Evidence from East-Central Europe," EIIW Discussion paper disbei181, Universitätsbibliothek Wuppertal, University Library.
    4. Magdolna Sass & Miklos Szanyi, 2012. "Two essays on Hungarian relocations," CERS-IE WORKING PAPERS 1223, Institute of Economics, Centre for Economic and Regional Studies.
    5. Lengyel, Balázs & Iwasaki, Ichiro & Szanyi, Miklós, 2010. "Industry Cluster and Regional Economic Growth : Evidence from Hungary," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 51(2), pages 93-112, December.
    6. Miklós Szanyi, 2016. "From party state capture to party business capture - Model feature of Visegrád countries?," IWE Working Papers 226, Institute for World Economics - Centre for Economic and Regional Studies.

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