Beyond the crisis: prospects for emerging Europe

This paper assesses the impact of the 2008-09 global financial and economic crisis on the medium-term growth prospects of the countries of central and eastern Europe, the Caucasus and Central Asia, which began an economic transition about two decades ago. We use crosscountry growth regressions, putting special emphasis on a proper consideration of the crisis and robustness. We find that the crisis has had a major impact on the within-sample fit of the models used and that the positive impact of EU enlargement on growth is smaller than previous research has shown. The crisis has also altered the future growth prospects of the countries studied, even in the optimistic but unrealistic case of a return to pre-crisis capital inflows and credit booms.

The Future of EU Cohesion Policy. Endogenous Development – Added Value of Intervention – Regulatory Frameworks

The successful operation of the regional development – or cohesion – policy of the European Union has a strategic importance from the point of view of the whole integration process. Strengthening economic, social and territorial cohesion and decreasing disparities between member states and regions are not only one of the main priorities of the integration, but at the same time these are justified expectations of the people living in the member states of the union. The cohesion transfers should be spent on those factors which have the biggest contribution to the improvement of development prospects and competitiveness in the given regions. Theories on regional development have controversial conclusions about the long-term formation of development disparities. However, it has become evident that successful development policies are based on endogenous factors, innovation and well-functioning institutions. After examining theoretical considerations and regional disparities the study analyses the impacts of EU regional policy and evaluates the main elements of the proposed regulatory frameworks for the period 2014-2020.

Foglalkoztatás-bővítési kilátások és akadályok az üzleti szférában(Employment expansion prospects and obstacles in the business sphere)

Empirikus vizsgálatok szerint a vállalatok fejlesztési törekvéseit Magyarországon is elsősorban a piaci kilátások határozzák meg, a finanszírozási körülmények szerepe jóval gyengébb. A beruházások és innovációk végrehajtása elsősorban a műszaki végzettségűek iránti keresletet növelheti, a szakképzetlen dolgozók körében viszont gyakran leépítésekre vezet. A vállalatok igénye és az állást keresők kompetenciái azonban nemcsak a szakmastruktúrában térnek el. A korábban megvalósított fejlesztéseknek a válság idején munkahelymegtartó szerepe volt. A jövőbeni fejlesztések munkaerőigényének kielégítésében mind az üzleti szektor szereplőinek, mind a szakpolitikáknak fontos tennivalói vannak. _______ According to recent empirical research development efforts of companies in Hungary are primarily determined by the market outlook, the role of financing conditions is much weaker. Implementation of investments and innovation can increase in first row the demand for technical professionals and often causes dismissals in unskilled labour. The demand of companies and competences of job seekers diverge not only in the professional structure. Earlier fulfilled development had workplace keeping role during the recession. Both actors of business sector and policies have important tasks to do in satisfying labour demand of future developments.