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How Did the Automotive Component Suppliers Cope with the Economic Crisis in Hungary?

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  • Eric Rugraff
  • Magdolna Sass

Abstract

This article studies the reaction of automotive component suppliers in Hungary to the 2008–2009 economic crisis. We find that the global suppliers viewed the crisis as an opportunity to reinforce the competitiveness of their Hungarian affiliates by engaging in product and process upgrading, and upgrading through research and development. The regional suppliers combined defensive strategies aimed at reducing costs with offensive measures in the form of product upgrading, production upgrading and expansion into new markets. The local suppliers reduced costs and reduced their workforce, but also reacted offensively by expanding into new markets, upgrading their activity and collaborating with other local suppliers.

Suggested Citation

  • Eric Rugraff & Magdolna Sass, 2016. "How Did the Automotive Component Suppliers Cope with the Economic Crisis in Hungary?," Europe-Asia Studies, Taylor & Francis Journals, vol. 68(8), pages 1396-1420, September.
  • Handle: RePEc:taf:ceasxx:v:68:y:2016:i:8:p:1396-1420
    DOI: 10.1080/09668136.2016.1221062
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    References listed on IDEAS

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    1. Sonsoles Gallego & Sándor Gardó & Reiner Martin & Luis Molina & José María Serena, 2010. "The Impact of the Global Economic and Financial Crisis on Central Eastern and SouthEastern Europe (CESEE) and Latin America," Occasional Papers 1002, Banco de España;Occasional Papers Homepage.
    2. Gardó, Sándor & Martin, Reiner, 2010. "The impact of the global economic and financial crisis on central, eastern and south-eastern Europe: A stock-taking exercise," Occasional Paper Series 114, European Central Bank.
    3. Martin, Reiner & Gardó, Sándor, 2010. "The impact of the global economic and financial crisis on central, eastern and south-eastern Europe: A stock-taking exercise," Occasional Paper Series 114, European Central Bank.
    4. Ekaterina Sprenger & Volkhart Vincentz, 2010. "Financial Crisis in Central and Eastern Europe," Memoranda - Policy Papers 48, Institut für Ost- und Südosteuropaforschung (Institute for East and Southeast European Studies).
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    Cited by:

    1. Xiaofei Chen & Enru Wang & Changhong Miao & Lili Ji & Shaoqi Pan, 2020. "Industrial Clusters as Drivers of Sustainable Regional Economic Development? An Analysis of an Automotive Cluster from the Perspective of Firms’ Role," Sustainability, MDPI, Open Access Journal, vol. 12(7), pages 1-22, April.

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