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Competitiveness and institutional change in Hungary

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  • Bartha, Zoltán

Abstract

The competitiveness of a country, besides the quantity and quality of factors of production, is largely dependent on institutional factors. It is not surprising therefore that the alteration of formal institutions (e.g. laws, measures, policies etc.) is a hot topic nowadays. But it is important to note that the efficiency of formal institutions is based on informal ones. Traditions of a country, culture, the values of the people are all factors that fundamentally affect the functioning of explicitly recorded, and so easily changeable formal rules. Measures taken to enhance the competiveness of a country often fail to have any noticeable effect, because they don’t harmonise with the value system or traditions of the people. The paper provides a short overview on the connection of values and economic performance, then considers the possible efficiency of a few economic policy instruments recently suggested by experts.

Suggested Citation

  • Bartha, Zoltán, 2008. "Competitiveness and institutional change in Hungary," MPRA Paper 50909, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:50909
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    File URL: https://mpra.ub.uni-muenchen.de/50909/1/MPRA_paper_50909.pdf
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    References listed on IDEAS

    as
    1. Pryor, Frederic L., 2005. "Market economic systems," Journal of Comparative Economics, Elsevier, vol. 33(1), pages 25-46, March.
    2. Gilad Aharonovitz & Elizabeth Kabura Nyaga, 2008. "Values and Economic Performance: Theory and some Evidence from Kenya," Working Papers 2008-18, School of Economic Sciences, Washington State University.
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    More about this item

    Keywords

    economic development; institutions;

    JEL classification:

    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

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