{"title":"Competitiveness as a Decisive Criterion for Sustainability","authors":"G. Matolcsy","doi":"10.35551/PFQ_2020_S_2_1","DOIUrl":"https://doi.org/10.35551/PFQ_2020_S_2_1","url":null,"abstract":"Competitiveness and sustainability are inseparable concepts. Competitiveness cannot be interpreted in the short term, and thus it cannot exist without sustainability as well. At both the corporate and national economy level, only those who can maintain their outstanding performance, in the long run, are the winners in global competition. There are two roads to achieving these two goals simultaneously, and they can even be followed at the same time. On the one hand, moving away from quantitative factors towards quality, and on the other hand, looking for new resources and making old resources unlimited by using them in a sustainable, “green” manner. With the development of digitalisation, data is becoming a more important resource than ever before, while money and access to energy may become unlimited. No segment of the economy can ignore revolutionary changes, such as the green and digital transition, but proper cooperation between the state and the market is necessary to achieve and maintain competitiveness and sustainability.","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"7-24"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69880702","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A koronavírus miatti államadósság-növekedés az Európai Unió országaiban : A válságból való kilábalás utáni államadósság-ráták eltérő recessziós scenáriók mentén","authors":"L. Török","doi":"10.35551/psz_2020_3_2","DOIUrl":"https://doi.org/10.35551/psz_2020_3_2","url":null,"abstract":"","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"350-363"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69884583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Family Allowance and Pension Dependent on the Number of Children: Optimality and Neutrality : Reaction to „The Inherent Faults of the State Pension System and the Main Direction of its Improvement” by József Banyár","authors":"A. Simonovits","doi":"10.35551/pfq_2020_1_3","DOIUrl":"https://doi.org/10.35551/pfq_2020_1_3","url":null,"abstract":"When it comes to the neutralisation of child-rearing burdens by the state, many experts support the introduction of pensions dependent on the number of children (or dependent on child-rearing) instead of family allowance (and tax allowance) (cf. Kovács ed., 2012). The critical review by Banyár (2019) joins this trend. Leaving external criticism aside, I assess Banyár’s plan of reduced pension of childless people and the remaining family allowance in the simplest possible optimisation model. The relative child consumption plays a key role. My main findings: a) in case of a critical relative value (when the total child consumption of the family equals the parents’ consumption), both pension of the childless and family allowance are dispensable; b) in case of a lower child relative value, the reduced pension of the childless is positive, and family allowance is dispensable; c) in case of a higher relative value, the pension of the childless is zero, but family allowance is indispensable.1","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"31-41"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69880226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A szociális védelem és a társadalmi kohézió kihívásai válsághelyzetben a pénzügyi szférában","authors":"Elemér Terták, L. Kovács","doi":"10.35551/psz_2020_3_3","DOIUrl":"https://doi.org/10.35551/psz_2020_3_3","url":null,"abstract":"","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"364-384"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69884603","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Corruption and Financial Development : Evidence from Eastern Europe and Central Asia Countries","authors":"I. Eksi, Berna Doğan","doi":"10.35551/pfq_2020_2_3","DOIUrl":"https://doi.org/10.35551/pfq_2020_2_3","url":null,"abstract":"Studying the relation between corruption and financial markets and examining its consequences for the financial system have attracted many researchers in recent years. To understand the effect of it's to financial markets is important for especially emerging countries. This paper examined the impact of Corruption Perception Index (CPI), government size, openness, and GDP on the financial development using the Generalized Method of Moment (GMM) approach of 19 Eastern Europe and Central Asia countries for the period 2012 to 2017 as yearly dates. Our findings suggest that there is not a relationship between the level of corruption and financial development.","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"196-209"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69880177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Determining Factors of Financial Culture, Financial Literacy and Financial Behavior","authors":"L. Csorba","doi":"10.35551/pfq_2020_1_6","DOIUrl":"https://doi.org/10.35551/pfq_2020_1_6","url":null,"abstract":"Non-financial culture is a key factor in the field of economy, including in the operation of financial markets. Products of financial markets are characteristically mutually advantageous for all parties. Therefore, marginalizing of products for cultural reasons only will have adverse effects on economic development. In the last few years, measurement and development of financial education has become increasingly important. This writing introduces the basic fields of non-financial culture. The relevance of financial culture pertains to not only clients, but also, to players on the supply side. Despite of the fact that financial culture and financial literacy share some fields, both categories have separate and exclusive fields, too. In this context, values, beliefs, standards and attitudes shared by the community are exclusive to culture. Individual financial knowledge and attitudes are exclusive to financial literacy. Whether it is about the emergence and subsistence of individual or community attitudes, values – especially beliefs – play a key role. In the development of financial culture, beliefs and stereotypes must be factored in. At the same time, striving to allow for the emergence and reinforcement of new beliefs is also necessary. In these efforts, key roles are played by the supply side of financial markets, the Hungarian Central Bank, the Ministry of Finance, the State Audit Office of Hungary, and the education system in the widest sense possible.1","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"67-83"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69880431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Az idősödő társadalom és a kockázati attitűd","authors":"Mónika Kuti, Zoltán Schepp","doi":"10.35551/psz_2020_4_1","DOIUrl":"https://doi.org/10.35551/psz_2020_4_1","url":null,"abstract":"A hazai szakirodalomban hiánypótló jelen tanulmány célja, hogy az időskori döntéshozatal és a kockázati preferenciák nemzetközi kutatási trendjeit egyrészt különféle módszertani megközelítések mentén rendszerezze - ideértve a kísérleti-, a kérdőíves- és a vagyonportfólión alapuló vizsgálati módokat; másrészt feltárja a kor és a pénzügyi kultúra közötti hatásokat. A külföldi szakirodalom tükrében az időskori kockázati attitűdvizsgálatok eltérő következtetésekre jutottak attól függően, hogy milyen kutatási módszert alkalmaztak. Játékszituációba ágyazott kísérleti környezetben inkább kockázatkeresők, kockázatos választáshoz vezető tanulás esetén azonban kockázatkerülők. A kérdőíves megkérdezések és a portfóliószelekciós módszerek tanulsága alapján a kockázatvállalási hajlandóság csökken idősebb kohorszokban. Az életkorral dinamikusan változó kockázati preferenciák a befektetési döntések újabb dimenziójára mutatnak rá. Az életkor emelkedésével felhalmozódó, kockázati toleranciát emelő befektetési tapasztalat és az életciklus vége felé romló kognitív képességek között feszülő összefüggések kutatása számos ellentmondásra világít rá a nemzetközi szakirodalomban.","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"457-471"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69884817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A nyugdíjrendszer fenntarthatósága, kockázatok és lehetőségek","authors":"Ákos Péter, E. Németh, Bálint Vargha","doi":"10.35551/PSZ_2020_K_2_3","DOIUrl":"https://doi.org/10.35551/PSZ_2020_K_2_3","url":null,"abstract":"Minden tényező változatlansága mellett 2060-ra 10 aktív korúra 6 nyugdíjas fog jutni. Ez kockázatot jelent a nyugdíjak fenntarthatósága szempontjából. Tanulmányunk a nyugdíjrendszer fenntarthatóságára ható tényezők beazonosítása érdekében feldolgozta a népmozgalmi, gazdasági és foglalkoztatási statisztikákat, elemezte a népesedésre, foglalkoztatásra ható tényezőket és a nyugdíjkassza várható alakulását. Eredményeink rámutatnak, hogy a szülőképes korú nők számának csökkenése miatt, még mérsékelt termékenységnövekedés mellett is csökken a születések száma, így a családpolitikai intézkedések szükségesek, de nem elegendőek a gazdasági és nyugdíjkockázatok mérséklésére. Konjunkturális jellege miatt a gazdasági növekedés csak időlegesen mérsékelheti a kockázatokat. Ugyanakkor az időskorúak munkaerőpiaci aktivitásának meghosszabbítása kiszámítható hatékonysággal fékezheti a nyugdíjkiadások növekedését, miközben biztosítja a munkaerőpiaci kínálatot. Ennek eszköze lehet az időskori aktivitás ösztönzése, a nyugdíjkorhatár emelése, illetve a fizikai és mentális egészség, a munkaképesség megőrzése, emellett fontos az öngondoskodás kultúrájának elterjedése.","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"57-85"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69885147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Top Performance in Investments in the Hungarian Economy","authors":"G. Báger, T. Cseh","doi":"10.35551/pfq_2020_1_7","DOIUrl":"https://doi.org/10.35551/pfq_2020_1_7","url":null,"abstract":"The study shows that the extraordinary growth of fixed capital formation and investment was twice higher than the increase in GDP during the period between 2012 and 2018. Investment rate reached 25 percent in 2018, compared with the European Union’s 20.4 percent; after Sweden and the Czech Republic Hungary had the third highest rate among the EU Member States. The achievement of this outstanding investment performance was greatly supported by the use of EU funds, the growth in foreign direct investment inflow and the lending turnaround stimulated by the proactive and innovative monetary policy of the Hungarian Central Bank as well as the large-scale expansion of investment grants. Among these impact factors the use of EU funds was the most significant in years 2013-2015. These resources amounted to more than one third of government investments in the period under examination. The volume of foreign direct investment inflow reached 4 percent of GDP in four years during the period between 2012 and 2018. The impact of the Funding for Growth Scheme launched by the Hungarian Central Bank was 4.4 percentage points in years 2013-2018. In parallel with the boost in investment, there was a positive and efficient change in the industries and branches of the national economy, material-technical composition, territorial distribution, sectoral composition, as well as the structure of public investments according to institutional framework.","PeriodicalId":85366,"journal":{"name":"Public finance quarterly","volume":"65 1","pages":"84-111"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"69879987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}