Central European countries highlight the importance of institutions as they are of somewhat different nature in this diverse group of countries, given their different history. Briefly, before World War II there was a market economy in place in Central Europe – as opposed to most Eastern...

Two economists of the National Bank of Hungary review fiscal developments during a decade of transition in Hungary. The paper examines the role of fiscal policy in stabilizing the economy in the face of external and reform-induced shocks, the way in which fiscal policy contributed to the...

Hungary launched its first Technology Foresight Programme (TEP) in 1997. This was a holistic foresight programme, based on panel activities and a large-scale Delphi survey, with a strong emphasis on socio-economic needs. The paper discusses why a foresight exercise is relevant to a transition...

The Hungarian NIS has gone through a significant transition process since the early 1990s. The expansion of business R&D, both in terms of total expenditures and the number business R&D units, indicates a stronger base relying on which innovation capabilities can be improved, albeit from a low...