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A működőtőke hatása a bruttó nemzeti jövedelemre Magyarországon
[The effect of direct investment on Hungary s gross national income]

  • Balatoni, András

    ()

  • Pitz, Mónika

    ()

Registered author(s):

    Jelen tanulmány a külföldi működőtőke magyar gazdasághoz való hozzájárulását vizsgálja. A külföldi érdekeltségű vállalatok beruházásokból, foglalkoztatottságból, külkereskedelmi áruforgalomból, valamint GDP-ből való részesedésének számbevételén túl a tanulmány számszerűsíti a bruttó nemzeti jövedelemre (GNI) gyakorolt hatást, és összeveti azt az alternatív külső finanszírozási formák behelyettesítésével kapott eredményekkel. Bemutatja, hogy az elmúlt 15 évben mért átlagos 2,3 százalékos GDP-növekedésből 0,69-0,89 százalékos évi dinamika származott a külföldi működőtőke beáramlásából. Ugyanakkor a számítások azt is megmutatják, hogy a működőtőke implicit kamata meghaladta az alternatív finanszírozási forrásokét. A kettő erő eredője azonban pozitív hatást eredményez: amennyiben a külföldi működőtőkét hitellel vagy portfóliótőkével helyettesítettük volna, úgy a nemzeti jövedelem 6-14 százalékkal lett volna alacsonyabb 2009-ben. A működőtőke-beáramlásból származó előnyök emellett tovább növelhetők az abszorpciós kapacitás bővítésével, ami az emberi tőke rendelkezésre álló mennyiségének, a fizikai és pénzügyi infrastruktúrának, a makrogazdasági stabilitásnak, valamint az intézményrendszernek a függvénye. Journal of Economic Literature (JEL) kód: F20, F21, F43.

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    Article provided by Közgazdasági Szemle Alapítvány (Economic Review Foundation) in its journal Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences).

    Volume (Year): LIX (2012)
    Issue (Month): 1 ()
    Pages: 1-30

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    Handle: RePEc:ksa:szemle:1284
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