Changes in the balances and intensity of international trade
The study analyses the changes in the balances and intensity of international trade among the main regions between 1955-1993. It investigates which are the regions showing lasting export and import surpluses and how this specific feature changed during the 38 years examined. On the other hand, through the changes in intensity it reveals the impact of changes in trade policies on the commodity flows between the main regions. The analysis covers not only the global trade, but also the trade by main commodity groups, partly in order to find out in which commodity groups the surpluses and deficits originated and how the balances of different sign by commodity groups affected the aggregate trade balances, and partly also to reveal to what extent the intensity of trade in individual commodity groups was modified by the changes in trade policies.
The impact of the auction method on the revenues of the Treasury
The study surveys the economic literature dealing with auctions: it examines the theoretical models constructed by researchers, the assumptions used in their setting up and how realistic they are, as well as the consequences of their omission. This is followed by a survey of practices: where and under what conditions were various auction methods used, how can these experiments be evaluated, as well as what kind of results were born and what conclusions were drawn from the ulterior analyses. Finally, the article seeks answers to the questions: to what extent can the analytical framework used be applied to the investigation of Hungarian experiences, what is the cause of possible deviations and how the Hungarian practice can be improved if at all.
Realization of the losses due to devaluation a problem misunterstood
The author makes a contribution to the debate going on about the impact of currency devaluations because of inflation on the state debt, respectively on the related burdens of the budget. With the aid of a simple model it is proven that the concerns related to the realization of the so-called devaluation losses are mostly based on a confusing of the nominal and real-value computations of the state debt. A judgement of the macroeconomic impacts of settlements between the state budget and the central bank (the National Bank of Hungary) is rendered difficult by the fact that the foreign debt of the country is domiciled to the central bank. This is also shown by the debate according to the author a completely nonsensical one about the interest to be paid by the budget on its debts to the central bank. But it cannot be excluded that behind the misunderstandings related to the settlement of the devaluation losses we find the unsolved problems of the role of the central bank and those related to its autonomy.
Kelet és Nyugat között
Lagging behind or following in the knowledge-intensive type of development
Relying on an analysis of the inputs, the role played by governments and the efforts of the business sphere in OECD countries in the fields of science and technology it may be established that in the knowledge-intensive type of development determining in our days R and D activities are important driving forces of economic growth. Analysing the international practice, the differences in strategies followed by the peripheric and the dynamically developing countries can be unambigously shown. Hungary having arrived at crossroads has to decide in the knowledge of the above how to rely on the knowledgebase increasingly determining commpetitiveness. By studying and taking into account the ruling tendencies it has to develop the science and technology policy to serve the fulfilment of the economic and societal tasks related to modernization.