...Introduction The Hungarian economic crisis can be ascribed to changes in economic situation in particularly fiscal and monetary policies of the country, although the effect of the global financial crisis in 2008 cannot be taken too lightly. Hungary’s desire to become a member of the European Union required the country to embark upon “austerity measures” which further dampened its economic situation. Adoption of the shift to the right ideologies further deteriorate the Hungarian economic situation. Prior to the economic crisis of Hungary that appeared back in 1989, which saw a fall in standard of living and economic activity due to economic trade liberalization, the country had transformed from monarchy, communist and socialist economic systems consecutively. In the period 1867 to 1920 Hungary operated under a monarchy government and this ended in a planned and or command economic system. After the invasion and seizure by the Soviet Union, the country’s economic policies were transformed to communist economic system resulting in nationalization of the country’s industries and institution of collective agriculture. After the collapse of the USSR which it had ties with Hungry experienced a transition from a communist to a socialist economy through liberalization of economic policies which brought about foreign investment though contrary to expectations it had negative impact in the economy. The Hungarian State was forced into the economic crisis because of rapid transition from...
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...The NeWer EntrantS Poland, Hungary & Romania The NeWer EntrantS Poland, Hungary & Romania As globalization of the market place continues, many companies that conduct within their nation’s boundaries will find it difficult to survive. Currently worldwide competition is influencing virtually every business in Canada, United States and other industrialized nations. One way to cope with this is to expand beyond a country’s own frontiers. Poland, Hungary and Romania are three countries that are very competitive in the skilled manual labour. This makes them a very attractive location for large corporations to outsource low, medium and sometimes even high levels of production. Multi-national firms can take advantage of cheap labour, high level of technical competence, and excellent infrastructure in these three nations. The Central Eastern European countries are part of the expanding Europe and the countries that fall within this area have opened up many opportunities for multi-national Firms. Many of these countries have recently joined the European Union and NATO have made formidable alliance and agreements that boost their investment opportunity value. History: Poland is a large country with a long and distinguished history. (Europe Global Studies, pg. 48) Poland's history as a state begins near the middle of the 10th century. By the mid-16th century, the Polish-Lithuanian Commonwealth ruled a vast tract of land in central and Eastern Europe. During the 18th century...
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...Working Paper Series Serie 4 Societies and social change Paper No. 4.01 Labour Market Developments and Social Welfare Hermine Vidovic* * The Vienna Institute for International Economic Studies 2013 www.grincoh.eu This paper was funded under the FP7 project “Growth– Innovation – Competitiveness: Fostering Cohesion in Central and Eastern Europe (GRINCOH)” under the Programme SSH.2011.2.2-1: Addressing cohesion challenges in Central and Eastern Europe; Area 8.2.2 Regional, territorial and social cohesion. Project Nr. 290657 Hermine Vidovic vidovic@wiiw.ac.at Vienna Institute for International Economic Studies www.wiiw.ac.at Please cite as: Vidovic H., (2013), ’Labour Market Developments and Social Welfare’, GRINCOH Working Paper Series, Paper No. 4.01 Labour Market Developments and Social Welfare Abstract Employment and activity rates in the new EU Member States (NMS) declined significantly up to the early 2000s and started to increase along with strong GDP growth thereafter. Job losses following the outbreak of the economic and financial crisis varied substantially across countries and have not been offset yet. Overall, the low educated and the young people are very disadvantaged on the NMS labour markets. With the exception of Poland and Slovenia, non-standard types of employment are uncommon in the NMS, following the pattern of Southern EU countries. Employment protection legislation has been adjusted to ‘European standards’ in the ...
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...socialism, first Hungary and 12 years later the Czechoslovakia. Both of the events had similar and different causes and consequences, which will be analysed in this essay. Hungary as well as Czechoslovakia wanted to reform their system. Both countries wanted the reforms to find ‘National roads to socialism’, or as they called it in Czechoslovakia, ‘the socialisms with a human face’. Both countries before the reforms were led by hard line Stalinists, which were one of the clear causes that led to the destalinization and the reforms. In Hungary the leader before the introduction of the reforms was Matyas Rakosi, or as the Hungarian sometimes called him, ‘the Bald Butcher’. He was incredibly unpopular within Hungary; he has murdered many people, hard to estimate the number, and imprisoned over 200,000. He was closely linked with the Hungarian secret Police the AVH, which were even more unpopular and hated than Rakosi himself. As well as in Hungary, Czechoslovakia had their hard line communist dictator. His name was Antonin Novotny, and as well as Rakosi he was very royal to Stalin and Moscow. He wasn’t as hard-line as Rakosi but he was still very unpopular within Czechoslovakia, one of the actions that he has taken that expanded his unpopularity was that he didn’t set free the prisoners that were prisoned by the Czechoslovakian secret police. In all the countries around 1960’s all the political prisoners were being freed, for example Gomulka in Poland and Kadar in Hungary. The reforms...
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...Studies in Business and Economics THE LENDING ARRANGEMENTS OF THE IMF IN EUROPEAN UNION IN TIMES OF CRISIS – CHARACTERISTICS AND EVOLUTIONS ORĂȘTEAN Ramona Lucian Blaga University of Sibiu, Romania Abstract: This paper focuses on the lending arrangements of the IMF in EU countries during crisis period. First, we reviewed the literature regarding IMF-supported programs in times of crisis. On the other hand, we provided a description of the IMF arrangements in EU countries in 2008-2013. We found that these programs differ in type, duration, amount and conditionality, but not significantly in their key objectives (achieving sustainable public finances and ensuring financial sector stability). Key words: IMF lending arrangements, EU countries, crisis 1. IMF – supported programs in times of crisis – a literature review Some authors examine the role of the IMF as crisis manager and crisis lender (Boughton, 2000; Chandavarkar, 2002), the role played by the IMF as a creditor and as a monitor of economic reforms (Marchesi and Sabani, 2007) or the efficacy of IMF's finance in preventing financial crises (Brandes and Schule, 2008). Many articles have been written on the role of the IMF in financing and designing economic reform programs for developing countries and in dealing with crisis periods, thus: - the IMF's role in dealing with the Asian crisis in Thailand, Indonesia and South Korea in 1997-1998 (Jonas, 1999; Ito, 2007); - the IMF-supported...
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...Africa and, most important, the fall of communism in Eastern Europe, democracy has spread around the world. As successful as these events might have been, democracy is still vulnerable; the main reason behind this situation is the fact that, unlike other forms of governing, democracy cannot be installed by force and maintained without the support of the people. Competitive free elections, combined with gradual institutionalization and the construction of a political system which appraises the universal values of democracy have proven to be challenging to deliver. As mentioned by former UN Secretary General Kofi Annan, “no nation is born a democracy”, but democracy has proven to be the key success factor towards building peace, ensuring economic growth and development, consolidate judicial systems and protect human rights (Current Challenges to Democracy). This essay sets to discuss the main current challenges and problems that young democratic government are facing. While democracy, as a concept, has been widely analysed by political analysts, the events of the last decade have raised awareness of a potential reversion of democracy towards government which make excess use of authoritarian power. According to Scott and Steele (2011) and the Council on Foreign Relations, democracy is especially more vulnerable in the developing countries. In these...
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...nationalism. Also Austro-Hungary physically started the war, while other leaders of major power knew the war would break out, but nobody did anything to stop it. The World War I was one of the most horrific event in the world history. It led to the fallen of four great imperialist empires such as Germany, Russia, Austro-Hungary, and Turkey. In four years, “the war costed over 15 million people dead” (White 1). It also planted the seed of the World War II. Even though the World War I was ended about a century ago, but it is still a fascinating subject for modern historians to debate. Especially, the question that...
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...Causes of the First World War This document was written by Stephen Tonge. I am most grateful to have his kind permission to include it on the web site. Europe Before 1914: the Main Powers Triple Entente | Name | Head of State | Allies | Disputes | Britain | King George V (1901-1936) Constitutional Monarchy | France, Russia | Naval arms race economic rivalry with Germany | France | President Raymond Poincaire Parliamentary Democracy | Britain, Russia | Wanted the return of the provinces of Alsace and Lorraine from Germany | Russia | Tsar Nicholas II (1894-1917) Monarchy | Britain, France | Rivals with Austria for control of the Balkans Strained relations with Britain. | Triple Alliance | Germany | Kaiser William II (1888-1918) Constitutional Monarchy | Italy, Austria- Hungary. | Rivals with France over Alsace, Britain over her navy. | Austria- Hungary | Kaiser Franz Joseph (1848-1916) Constitutional Monarchy | Italy, Germany | Rivalry with Russia over the Balkans, Territorial disputes with her ally, Italy | Italy | King Victor Emmanuel III (1900-1946) Constitutional Monarchy | Austria, Germany | Disputes with France in North Africa large Italian communities lived in the Austrian Empire. | The direct cause of WWI was the assassination of Archduke Franz Ferdinand at Sarajevo on 28 June 1914. However historians feel that a number of factors contributed to the rivalry between the Great powers that allowed war on such a wide-scale to break out. A major...
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...caused extreme tension and stress in the Balkan region. War seemed inevitable and only a ‘spark’ was required to set off the fuse.1 The dreaded stimulus was soon provided through the assassination of the Austrian Archduke, Franz Ferdinand, and his wife Sophie at Sarajevo in June 1914. The casus belli that the assassination presented Austria was too good to be missed. The prospects of an all-out war also aligned with Germans desire for establishing their military supremacy in the region. Hence they became actively engaged in the ensuing July Crisis and staunchly supported Austria. The Kaiser offered a ‘blank cheque’ to its ally.2 Unbeknown to many, the stage was set for the catastrophic World War 1. Background The Ottoman Empire had progressively conquered the Balkans starting in the fourteenth century leading up to the height of its expansion in the seventeenth.3 They were opposed by various forces in Europe such as the Byzantine Empire, Hungary and Poland. Though...
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...tactical stalemate. It was the fifth-deadliest conflict in world history, paving the way for major political changes, including revolutions in many of the nations involved.[9] The war drew in all the world's economic great powers,[10] which were assembled in two opposing alliances: the Allies (based on theTriple Entente of the United Kingdom, France and the Russian Empire) and the Central Powers of Germany and Austria-Hungary. Although Italy had also been a member of the Triple Alliance alongside Germany and Austria-Hungary, it did not join the Central Powers, as Austria-Hungary had taken the offensive against the terms of the alliance.[11] These alliances were both reorganised and expanded as more nations entered the war: Italy, Japan and the United States joined the Allies, and the Ottoman Empire andBulgaria the Central Powers. Ultimately, more than 70 million military personnel, including 60 million Europeans, were mobilised in one of the largest wars in history.[12][13] Although a resurgence of imperialism was an underlying cause, the immediate trigger for war was the 28 June 1914 assassination of Archduke Franz Ferdinand of Austria, heir to the throne of Austria-Hungary, by Yugoslav nationalist Gavrilo Princip in Sarajevo. This set off a diplomatic crisis when Austria-Hungary delivered an ultimatum to the Kingdom of...
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...In the last decade, a record number of people have left their homes for reasons as varied as internal violence, economic instability, and climate change. Facing large numbers of people hoping to get in, more affluent states have had a growing interest in regulating their borders to safeguard national security. The task of protecting domestic, economic, and security interests with international human rights commitments has fallen to courts. The concepts of “refugee” and “migrant” have been twisted in international courts in cases regarding interdiction at sea. United Nation’s refugee agency (UNHCR) reported that global refugee figures, caused by the war in Syria and other instabilities in the Middle East and Africa, cross 50 million people—the highest since World War I. It’s not surprising then, that there has been a comparable rise in people attempting to enter the European Union to seek for refuge, many embarking on life threatening voyages across the Mediterranean to find themselves a safer place. Who are refugees? According to the 1951 Refugee Convention. Under Article 1(A)2, the term “refugee” shall apply to any person who: “...owing to well-founded fear of being persecuted for reasons of race, religion, nationality,...
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...Corporate Human Resources Management to the Economic Crisis Finding the ways-out in HR KINGA ILONA BÁRDOSa - ERIKA VARGAb Dobó István Grammar School Széchenyi út 19, Eger 3300, Hungary cetebe@hotmail.com b Károly Róbert College Mátrai út 36, Gyöngyös 3200, Hungary evarga@karolyrobert.hu a T he cyclical movement of the economy is a natural process but, fortunately, a global economic crisis is a rare phenomenon. The credit crunch starting in September 2008 has grown into a global one primarily affecting car manufacturing and then it has its percussions in the whole economy-gradually reaching all the players. The crisis management in human resources implies layoffs, redundancies or shorter working hours and weeks. In many cases there were not wellthought corporate strategies for crisis management as managers as well as employees had to face a problem they had never experienced before. One of the corporate operative steps is to examine and realise how deeply the organisation itself is affected in the crisis. Our objective is to present what theoretical and practical solutions were or are invented besides the ones already mentioned. Keywords: crisis management, human resources management, atypical employment 1. About the crisis in general About a year ago the credit crunch became widespread primarily hitting the financial institutions worldwide and had its impacts felt in the motor industry reaching all players of the economic life. There were no companies that could escape...
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...Short Essay’s Questions/Answers On WESTERN CIVILIZATION Submitted by Dated Sec 1, Q1: Nineteenth century Europe began an enormous program of global expansion, establishing colonies in much of Africa and Asia. What domestic factors, old and new, caused this flurry of colonial activity in the period after the 1870s? What is the connection between this new imperialism and Social Darwinism? What can we learn about the process and success of imperialism in Africa and Asia from Conrad’s story? Answer The European colonialism brought different changes to the domestic level in Africa and Asian regions. The period after 1870s brought imperialistic aggression in African and Asian countries alongside the diplomatic pressures, colonial conquest and military invasion especially in the regions of Africa. The domestic people faced the foreign domination and attempt of colonization. During the 1870s the Europeans succeed to under control only 10% of the African region and it was the period when Europe started to grab the African land by the 1914, around 90 percent of the African continent was under control of Europeans (The Creation, 2011). In Africa the Berlin conference played vital role in regulating colonization alongside the trade in the African regions. Similarly in the Asian region in subcontinent, the European Colonialism was established ant later on the imperialism was started in 1857 after the freedom war. The European colonialism gradually extend its control over the political...
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...After the end of World War II, the United States and the Soviet Union were the world’s most powerful nations. However, both nations had different views on economics and government, the clash of their ideas was known as the Cold War. United States is a capitalist country, meaning that they allowed people to control their businesses and their production. On the other hand, the Soviet Union is a communist country, meaning that the government controlled the production of good and resources. Both sides struggled for international power and tried to expand. Both nations exploited every opportunity of expansion anywhere in the world, which led to the Cold War. Asia The Cold War had influenced the split of Korea and Vietnam. Korea had split along...
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...upon as being pivotal motives in the outbreak of war. Russia deeply influenced and played a key role in the outbreak of World War One, but it is difficult to say she was the sole cause. The different alliance groups, Nationalism, economic stability, domestic tensions and the divergent Foreign Policies in the Central European countries were collectively the reasons that brought about a general European war. Russia’s history preceding 1914 constituted to the decision making of the July Crisis. The Russo-Japanese war of 1904 left Russia defeated and powerless both economically and militarily. [1]‘Russia suffered 400,000 casualties, lost two of its three fleets and denuded its western frontier fortifications of troops and armaments.’ The defeat to Japan caused Russia a major embarrassment and Russia was intent on building up her military strength for the countries social security. By 1910 the ‘Small Program’ followed by the 1913 launch of the ‘Great Program’ enabled Russia to add additional spending to the army and military but Russia’s military strength still lacked its initial power. World War One may have been a way in for Russia to regain her losses, build up her the power she once had and rid the threats of both Germany and Austria-Hungary. Russia had a vested interest in the Eastern Question and the Ottoman Empire. With the decline of the Turkish Empire, Russia would have consequently benefitted from expanding eastwards which would add to her strength. The...
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