After the Crisis?
Director, Institute for World Economics, Hungarian Academy of Sciences
Published in: Public Finance Quarterly 2011/3 (p. 360-378.)
SUMMARY: The economic crisis is not over yet, but it is already apparent that the developing, emerging countries are the big winners. The Hungarian economy is an open economy, and the issue of openness must be handled by securing new markets. However, it should be noted that 70 percent of Hungarian exports are destined for the European Union. Much greater emphasis should be placed on cooperation with MNCs, and it is also important to determine how to increase added value and how to eliminate the duality of the Hungarian economy. EU funds should be used to develop exports, join multinational networks, offset imports and improve competitiveness.
KEYWORDS: economic crisis, competitiveness, export development
JOURNAL OF ECONOMIC LITERATURE (JEL) KÓD: A11, E60