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Winners and Losers in the Liberalized Energy Retail Sector in Hungary: A Co-evolutionary Approach


  • Balázs Felsmann

    () (Corvinus University)


This paper examines the recent history of the Hungarian energy trading market in a co-evolutionary framework. Hungary is characterized by a mixed ownership structure with mainly multinational incumbents in energy retail and distribution, while the wholesale is dominantly owned by state-owned companies. The legal framework also has dual characteristics, with free-market regulation for industrial consumers and a regulated price regime for households. Our research method follows a longitudinal approach from the period of market liberalization in 2008 until 2013. We identified strong relationship between the individual and sector performance of the trading companies and the current political ideology and institutional regime.

Suggested Citation

  • Balázs Felsmann, 2014. "Winners and Losers in the Liberalized Energy Retail Sector in Hungary: A Co-evolutionary Approach," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 10(02), pages 25-36.
  • Handle: RePEc:mic:tmpjrn:v:10:y:2014:i:02:p:25-36

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    References listed on IDEAS

    1. Suzana Rodrigues & John Child, 2003. "Co-evolution in an Institutionalized Environment," Journal of Management Studies, Wiley Blackwell, vol. 40(8), pages 2137-2162, December.
    2. Henk W. Volberda & Arie Y. Lewin, 2003. "Co-evolutionary Dynamics Within and Between Firms: From Evolution to Co-evolution," Journal of Management Studies, Wiley Blackwell, vol. 40(8), pages 2111-2136, December.
    3. John Child & Suzana B. Rodrigues & Kenneth K-T. Tse, 2012. "The Dynamics of Influence in Corporate Co-Evolution," Journal of Management Studies, Wiley Blackwell, vol. 49(7), pages 1246-1273, November.
    4. Foxon, Timothy J., 2011. "A coevolutionary framework for analysing a transition to a sustainable low carbon economy," Ecological Economics, Elsevier, vol. 70(12), pages 2258-2267.
    5. Hannon, Matthew J. & Foxon, Timothy J. & Gale, William F., 2013. "The co-evolutionary relationship between Energy Service Companies and the UK energy system: Implications for a low-carbon transition," Energy Policy, Elsevier, vol. 61(C), pages 1031-1045.
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    1. repec:eee:enepol:v:107:y:2017:i:c:p:615-620 is not listed on IDEAS

    More about this item


    Business/Government Interaction and Relations; Institutional trajectories; Market liberalization; Energy; Central and Eastern Europe;

    JEL classification:

    • L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure


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