How consistent is the new Common Agricultural Policy with the challenges it faces?

The latest reform of the Common Agricultural Policy (CAP) has recently been accepted, identifying important challenges for EU agriculture, but proposing only limited changes to the previous CAP. Now it is time for the implementation of the new measures. However, from a theoretical point of view, it seems that the CAP can hardly meet the challenges it faces due to the inconsistencies between the predefined challenges and the measures proposed to meet them. The aim of the paper is to systematically analyse the consistency between the challenges of European agriculture and the policy measures aimed at meeting them. It seems that not all measures are consistent with the challenges.

How consistent is the new common agricultural policy with the challenges it faces?

The latest reform of the Common Agricultural Policy (CAP) has recently been accepted, identifying important challenges for EU agriculture, but proposing only limited changes to the previous CAP. Now it is time for the implementation of the new measures. However, from a theoretical point of view, it seems that the CAP can hardly meet the challenges it faces due to the inconsistencies between the predefined challenges and the measures proposed to meet them. The aim of the paper is to systematically analyse the consistency between the challenges of European agriculture and the policy measures aimed at meeting them. It seems that not all measures are consistent with the challenges.

Evaluation of the EU membership of the new member states

When analysing the impacts of EU membership on NMCs, and in particular on the Hungarian economy, we consider integration maturity as a theoretical framework. Integration maturity can be defined as a capability to exploit the benefits of the given form of integration to the maximum, while the costs and drawbacks can be minimised. Integration maturity can be measured by comparing costs and benefits. A country is mature for integration if membership on the whole is advantageous for it.

Economics of the new member states: A post-crisis perspective

This essay addresses four major issues confronting the Central and Eastern European new members of the European Union in the decade to come. First: what to think of the financial meltdown of 2008-2009. Second, what have they learned from the tremors, having shaken the previous star performers of the EU? Third we ask if we can expect a return to ‘normalcy' as forecast by most models of financial rating agencies and international financial institutions? Fourth the question is raised what did the new members benefit from their EU membership? Some conclusions on the future of EU reforms and policies close the overview.

A New Method For Combining Detrending Techniques with Application to Business Cycle Synchronization of the New EU Members

Decomposing output into trend and cyclical components is an uncertain exercise and depends on the method applied. It is an especially dubious task for countries undergoing large structural changes, such as transition countries. Despite their deficiencies, however, univariate detrending methods are frequently adopted for both policy oriented and academic research. This paper proposes a new procedure for combining univariate detrending techniques which is based on revisions of the estimated output gaps adjusted by the variance of and the correlation among output gaps. The procedure is applied to the study of the similarity of business cycles between the euro area and new EU Member States.

A szovjetológiától az új intézményi közgazdaságtanig - töprengések két évtized távlatából = From Sovietology to the new institutional economics - meditations from a distance of two decades

A következőkben arra teszünk kísérletet, hogy összegezzük a közép- és a kelet-európai rendszerváltozások és az ezt tanulmányozók fordulatos történetét az elmúlt két évtizedben. Bemutatjuk, hogy a közgazdaságtan egy kevéssé fejlett ága miképp szembesült a tudományág egésze szempontjából is talán legnehezebb értelmezési és alkalmazási kérdéseket fölvető történelmi folyamattal. Megpróbáljuk feloldani azt a rejtvényt, hogy a főáramú megközelítés megismerése és alkalmazása miért nem hozott átütő eredményt sem a térség gazdaságainak, sem magának a tudományszaknak. Megvizsgáljuk a fokozatosság és a reformok kritikus tömege viszonyát. Végül kísérletet teszünk arra, hogy e sajátos szakterület elemzéséből adódó, tartósnak bizonyuló tételeket beépítsük a fenntartható fejlődés szélesebben értelmezett, immár főáramú megközelítéseibe. ___________ The article attempts to give an account of the changes of system in Central and Eastern Europe and of those who studied them in the last two decades. It shows how a less devel-oped branch of economics faced a historical process that posed possibly the most difficult questions of interpretation and application for the whole discipline. An attempt is made to discover why recognition and application of the mainstream approach failed to bring resounding success for the economies of the region or for economics itself. The author examines the relation between continuity and the critical weight of reforms. Finally, an attempt is made to advance durable propositions based on analysis of this specific field through now mainstream approaches in terms of sustainable development.

On the new economic philosophy of crisis management in the European Union

This essay attempts to go beyond presenting the bits and pieces of still ongoing crisis management in the EU. Instead it attempts at finding the ‘red thread’ behind a series of politically improvised decisions. Our fundamental research question asks whether basic economic lessons learned in the 1970s are still valid. Namely, that a crises emanating from either structural or regulatory weaknesses cannot and should not be remedied by demand management. Our second research question is the following: Can lacking internal commitment and conviction in any member state be replaced or substituted by external pressure or formalized procedures and sanctions? Under those angles we analyze the project on establishing a fiscal and banking union in the EU, as approved by the Council in December 2012.

What is the Future of Strategic Management?

The history of planning and creating strategies has a past of over half a century. Throughout this lifetime period we have witnessed both the evolution of theory and practice. The MBA study books in the last-third of the 20th century have with predilection exhibited this very process as a complex of monetary centered budget planning, forecast-based planning, strategic planning and strategic management. There might be a controversy existing about the naming, characteristics and timing of these different sections but there is an accordance that the changes that we have taken place in the last decade as a whole without a doubt can be derived from these very changes in the business environment or in some outstanding cases (like 9/11) they can be acknowledged as the ability of corporate foreseeing and the ability to adapt to the vision of the future. The main purposes of the research is to provide a summarized picture about the changing process of this procedure during last decades as far as the planning and creating strategies are concerned and also their milestones and periods. Try to explore and systemize the very aspects of these changes. The happenings of the first decade of the new millennium are outstandingly interesting if we consider their real effect on the theory and practice of strategic management. Let us remember the euphoria around the year 2000, the predictions of „new technologies”, „new economy”, „new organization” and „new leadership”. We have implied before on the destruction of the twin towers of the World Trade Center which meant a new era, a new quality of international terrorism and its consequences (Afghanistan, Iraq). But the „product” of this decade is the strategic aim that companies focus on, which is the social responsibility regarding the unavoidance of the effects of climate change on the long run. During the research the big question has risen concerning how did the science of strategic management do as far as the predictions of the global monetary and economic crisis are concerned? And also its solutions this very science has to offer in order to handle and get over the crisis. Does it conclude from the answers given to the questions that a change in paradigms are necessary, a new quality is needed or may be we have come to a new crossroad of the development process that will take over strategic management? (...)

Magyarország hét régiójának új gazdaságföldrajzi modellje – paraméterbecslés (The new economic-geography model of Hungary's seven regions - a parameter estimate)

Az új gazdaságföldrajz – amely napjaink egy igen népszerű közgazdaságtani tudományága – modelljének majdnem minden paramétere előállítható közvetlenül külső adatok segítségével. A helyettesítési rugalmassághoz azonban más módszerre van szükség. Puga [1999] által felvázolt új gazdaságföldrajzi modellt követve, egy regressziós egyenlettel megbecsülhetővé válik a kívánt paraméter, amit Magyarország hét régiójára vonatkozó béregyenlet becsléséből nyertünk. A helyettesítési rugalmasság értéke eltér a szakirodalomhoz képest, aminek magyarázata Magyarország fejlettségi szintjével állhat összefüggésben. ____ The model of the new economic geography - very popular material for economic study these days - allows almost every parameter to be presented directly with the aid of outside data. However, another method is required for substitution flexibility. With the new economic-geography model devised by Puga [1999], a regression equation allows an estimate to be made for the desired parameter, which yielded the wage equation for the six regions of Hungary. The value for substitution flexibility differs from that of the literature, the explanation for which may lie in Hungary's level of development.

The New (Marketing) Role of Firms as Media Content Providers – The case of SME’s Strategic Social Media Presence

In the new social media context, it is gradually more common to say that each party can itself be considered a media content provider, firms included (through their brand pages). This tendency is reflected in a rising professional field called “content marketing”. This study incorporates the perspective of small and medium-sized enterprises (SMEs) into the scope of social media (SM) as a marketing communications and media content distribution system. In an exploratory content analysis of 20 official SM brand pages with 1281 analyzed posts the authors study how SMEs respond to the advent of a new paradigm of marketing communications with special attention to their usage of media-specific contents. SM impels companies to eventually rethink the traditional one-way communication flow of their marketing messages and to incorporate a new, two-way communication into their marketing strategy, where (their engaged and involved) users can create, modify, share and discuss content related to the firm’s activity. This study’s preliminary results show that diffusing content generally acts for SMEs as a facilitator to involve fans by offering a thematized space for them to manifest themselves in company-related topics. Therefore, content adds to the firms’ possibilities of brand positioning by offering a reflection of fans’ company- and contentrelated behavior, which is a supplementary source of information.

A horizontális és vertikális ágazaton belüli agrárkereskedelem meghatározó tényezői az EU új tagországaiban (Determinants of horizontal and vertical intra-industry agri-food trade in the new EU member-states)

Az ágazaton belüli kereskedelem egyre komolyabb szerepet tölt be a nemzetközi kereskedelemben, mind ez idáig azonban kevés mezőgazdasági témájú elemzés készült e témában. A cikk célja a horizontális és vertikális ágazaton belüli agrárkereskedelem meghatározó tényezőinek azonosítása az új tagországok és az EU–27 közötti kereskedelemben 1999–2010 között. Ehhez a szerző statikus és dinamikus panelmódszereket alkalmaz különböző specifikációkkal. Eredményei szerint a tényezőellátottság a horizontális ágazaton belüli kereskedelemmel negatív, míg a vertikálissal pozitív kapcsolatban áll. Az országok mérete az ágazaton belüli kereskedelem mindkét oldalával pozitívan, míg a távolság negatívan korrelál. Az eredmények azt is kimutatják, hogy az ágazaton belüli kereskedelem mértéke nagyobb, ha egy új tagország a kelet-közép-európai régióba exportál, és az is világossá vált, hogy az EU-csatlakozás pozitívan hatott az ágazaton belüli kereskedelemre, jelezve a gazdasági integráció kereskedelemösztönző szerepét. _____ Intra-industry trade (IIT) has a growing role in international trade, although the number of papers on its agricultural aspects is limited. This article identifies the determinants of horizontal and vertical intra-industry agri-food trade between new member-states (NMS) and the EU27 in 1999-2010, by applying to panel data static and dynamic models with different specifications. The results show that factor endowments are negatively related to agri-food horizontal intra-industry trade (HIIT), but positively to vertical intra-industry trade (VIIT). Economic size is positively and significantly related to both, while distance and IIT are found to be negatively related. This also suggests that HIIT and VIIT are greater if an NMS exports agri-food products to another NMS, while EU accession has had positive and significant impacts on both HIIT and VIIT, which suggests that economic integration fosters IIT.

Tíz év az Európai Unióban - az új tagországok agrárteljesítményei = A decade in the EU: the agricultural performances of the new member-states

Több mint tíz év telt el az Európai Unió 2004. évi kibővülése óta. A tízéves évforduló jó lehetőséget kínált a mérlegkészítésre, annak vizsgálatára, hogy a legfrissebb elérhető adatok tükrében milyen fejlődési pályát tudhatnak maguk mögött az új tagországok mezőgazdasági szektorai. Írásunk célja a tíz kelet- európai EU-tagállam agrárteljesítményének értékelése, illetve ez alapján a csatlakozás nyerteseinek, illetve veszteseinek azonosítása. A rendelkezésre álló adatokat a többdimenziós faktoranalízis módszerével feldolgozva arra az eredményre jutottunk, hogy Lengyelország, Észtország és Litvánia hármasa tekinthető az agrárcsatlakozás abszolút nyertesének, míg a többi új tagállam nem volt képes teljes mértékben kihasználni a csatlakozás adta lehetőségeket. Az eredményekből az is látható, hogy a magas hozzáadott értékű termékekre való szakosodás jó stratégiának bizonyult, mert gyorsabb fejlődést biztosított, mint a mezőgazdasági alaptermékekre való koncentrálás. ____ The period of over ten years since the 2004 round of EU accessions provides a good opportunity to assess and take stock of agricultural developments in the new member- States, in light of the latest available data. The paper sets out to assess their agricultural performances and to identify the winners and losers by accession in this regard. Ranking individual country performances using Parallel Factor Analysis (PARAFAC) suggests that Poland, Estonia and Lithuania can be considered as winners, whereas the other countries failed to use the potentials of membership to the full. The results also suggest that focusing on agri-food products with a high added value proved a good development strategy for the sector. Countries that concentrated on producing agri-food raw materials lagged behind.