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Same old story: Hungary's development over the 2000-2020 period

Author

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  • Zoltán Bartha

    (University of Miskolc)

Abstract

Hungary’s convergence to the developed western economies has been much slower than initially expected. Applying the FOI model, this study investigates whether there were any changes in the convergence process during the first two decades of the 21st century. It is found that the future potential (influencing the long-term competitiveness of the economy) and inside potential (determining the current well-being of the country) of the Hungarian economy did not improve at all compared to the 34 countries that were OECD members in 2010. Hungary’s position is in fact very poor; it is ranked 33rd in both areas. The country does somewhat better in the outside potential (characterising its world market position), prompting the conclusion that Hungary follows a growth model that is focused on external resources. This feature is not new, however: the same development model patterns were detected in 2010, too.

Suggested Citation

  • Zoltán Bartha, 2022. "Same old story: Hungary's development over the 2000-2020 period," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 18(01), pages 37-43.
    • Handle: RePEc:mic:tmpjrn:v:18:y:2022:i:01:p:37-43
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    File URL: http://tmp.gtk.uni-miskolc.hu/volumes/2022/01/TMP_2022_01_3_k.pdf
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    References listed on IDEAS

    as
    1. Zoltán Bartha & Andrea S. Gubik, 2014. "Characteristics Of The Large Corporation-Based, Bureaucratic Model Among Oecd Countries – An Foi Model Analysis," DANUBE: Law and Economics Review, European Association Comenius - EACO, issue 1, pages 1-20, March.
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    More about this item

    Keywords

    development path; economic convergence; Hungary; institutions; OECD;
    All these keywords.

    JEL classification:

    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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