Further gradual import liberalization in Hungary necessitates a comprehensive strategy in which there is a role to play for regulation of foreign trade as well as for financial, price and industrial policy. It is to be reassessed what conditions are required for first a partial, then a gradually...

The proposal of KOPINT—DATORG has a special role among concepts on import liberalization in Hungary, primarily due to its comprehensive approach. The concept, having received limited publicity so far, extensively utilizes the liberalization experiences of developing countries. It lays special...

Global Value Chains play an increasing role in production and export in modern economies. Being part of such global chains can fundamentally affect the performance of a firm, a country, or an industry. In this study, we analyze the production and export of intermediate products and capital goods...

Global Value Chains play an increasing role in production and export in modern economies. Being part of such global chains can fundamentally affect the performance of a firm, a country, or an industry. In this study, we analyze the production and export of intermediate products and capital goods...

The article analyzes the requirement recently formulated by different parties of the accession process: the candidate countries should raise their wage level close to the average of the EU even before they join the union. The authors show that wage convergence, defined this way, has no...

Hungarian Abstract: Napjaink uralkodó globális megatrendje, a digitalizáció figyelemre méltó megoldásokkal kívánja az emberiség életét megkönnyíteni. Ezek közül is kiemelkednek az önvezető autók, amelyeket a szakirodalom a radikális innovációk közé sorol, utalva arra,...

Interpretations of David Ricardo's (and Adam Smith's) tax theory are presently dominated by an Anglo-Saxon perspective, though French physiocrats also played a role in its formation. Recent studies on economic thought often include a look at the historical precedents of a theory. This has given...

In this paper we compare the classical general equilibrium framework of Smith and Marx with the neoclassical one of Arrow and Debreu, and find that these competing paradigms of equilibrium clash on a number of critical issues--efficiency, power, the role of markets, time, the nature of...

We start out from the hypothesis that limited government leads to low uncertainty and low transaction costs. If political institutions affect the degree of uncertainty and transaction costs, we formally show they should affect the steady state level of income per capita. The impact of...

We present a theory of the choice of alternative democratic constitutions, a majoritarian or a consensual one, in an unequal society. A majoritarian democracy redistributes resources from the collectivity toward relatively few people, and has a relatively small government and low level of...