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The Secret of Lasting Success - The Cases of Switzerland and Denmark

Author

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  • Rafael Lipcsey Andersson
  • Szabolcs Szentmihalyi

    (Magyar Nemzeti Bank)

Abstract

In recent decades, the development of Switzerland and Denmark has mainly been characterised by intensive growth, pioneering in innovation and the development of green technologies, high employment rates and fiscal discipline. In this article, we discuss the background of these development factors as well as how these two economies have managed to remain highly advanced for such a long time. The paths taken by Switzerland and Denmark show plenty of similarities, from which Hungary can draw lessons regarding its efforts to catch up with Europe's more advanced economies. In certain areas, however, their success has been enabled by factors dependent on their unique conditions, resources and diverging economic policy approaches.

Suggested Citation

  • Rafael Lipcsey Andersson & Szabolcs Szentmihalyi, 2022. "The Secret of Lasting Success - The Cases of Switzerland and Denmark," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 21(3), pages 159-172.
    • Handle: RePEc:mnb:finrev:v:21:y:2022:i:3:p:159-172
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