Corvinus
Corvinus

To what extent is Hungary a knowledge-based economy?

Boda, György (2017) To what extent is Hungary a knowledge-based economy? Theory Methodology Practice: Club of Economics in Miskolc, 13 (1). pp. 69-84. DOI http://dx.doi.org/10.18096/TMP.2017.01.06

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Abstract

While we can generally see a decline of the share of industry, parallel to this trend the Visegrad countries are taking over more industrial production (mainly assembly). This will reduce the requirements for innovative knowledge workers. This “over-industrialisation” has led to a dual economy, in which domestic companies compete by utilising the comparative advantages of a cheaper labour force. In fact, products whose comparative advantages do not decrease as the development gap narrows are needed for sustainable economic development. If we continue to hinder the development of non-material services this way, then by decreasing innovative capacities we shall get deeper into the trap of dependent market economies.

Item Type:Article
Uncontrolled Keywords:knowledge content, realisation of comparative advantages, upgrading the factors of production, knowledge capital, dependent market economies
JEL classification:E20 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General (includes Measurement and Data)
E21 - Macroeconomics: Consumption; Saving; Wealth
F43 - Economic Growth of Open Economies
F62 - Economic Impacts of Globalization: Macroeconomic Impacts
Subjects:Economic development
DOI:http://dx.doi.org/10.18096/TMP.2017.01.06
ID Code:3365
Deposited By: MTMT SWORD
Deposited On:12 Mar 2018 08:55
Last Modified:12 Mar 2018 08:55

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