Abstract of the Article
Earnings and Skill Premia at Foreign-Owned and Exporting Firms of Manufacturing Industries In Hungary
In Hungary, one of the most open member countries of the European Union, an obviously important question is how this openness „treats” the labour force. This question is being analysed in the article in the field of processing industries, focusing on foreign ownership of firms and exports. After reviewing the literature of the issues, we analyse, with econometric methods, how (partial) foreign ownership and export activities influence the earnings of the workers of the firms concerned; how skill premia of more qualified employees move at companies owned (part-owned) by foreigners.
The devil in the details – internationalisation of a hybrid company
KATALIN ANTALÓCZY – MAGDOLNA SASS
The internationalisation of state-owned enterprises is a relatively rarely analysed problem in spite of the importance of these companies in the world economy or in their respective economies. The state-owned companies of East Central Europe were expected to disappear after the transition process is over, however, there is a relatively large number of them, which “escaped” privatisation and is in majority or minority foreign ownership. The article analyses a minority state-owned company, the Hungarian Richter Gedeon. Though the case of this company has very special characteristics, it can call attention to the problems and further interesting details of the internationalisation of hybrid state-owned companies. We call the attention to the important role of management in shaping the independence of the company, the direct and indirect (as regulator) role of the state, through which it can determine or at least influence the operation of the company in question.
EU policy towards the Southern Mediterranean in light of the financial operations of the European Investment Bank
TAMÁS SZIGETVÁRI
Support for the economic development of the Southern Mediterranean region has been on the top agenda of the European Union for more than two decades. The consequences of the Arab Spring and the growing migratory pressure, however, have increased the importance of the development needs of the Mediterranean countries in recent years. The European Investment Bank (EIB) is the European Union’s development bank, which carries out an ever-growing development lending activity in the regions outside the EU. This activity is closely related to the EU’s external (neighbourhood and development aid) policies. This study analyses the lending activity of the EIB in the Southern Mediterranean region, and seeks to demonstrate the priorities and the means by which the EIB supports the economic development of the region, and its ability to keep up with the growing expectations it has to face.
JOGI MEllékLET
The Hungarian “Maltese Marriage case”, circus artists, magicians and shares: old cases in the light of the codification of some general part rules of the new Private International Law Act
Sarolta Szabó
On 4th April 2017, the Hungarian Parliament adopted the new Act No. XXVIII of 2017 on Private International Law (hereinafter referred to as “the New Code”; entered into force 1st January 2018) aimed at modernizing and refining the rules of the replaced Law Decree No. 13 of 1979 on Private International Law (hereinafter referred to as “the Old Code”). In this paper, some legal cases of the Old Code practice are presented and analyzed, which, according to the author’s hopes, not only give an insight into the sometimes complicated functioning of general law institutions but also to explain some of the reasons behind the New Code’s certain modifications.