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Market Liberalism and Economic Patriotism in the Capitalist World-SystemThe Emergence of the Patronage State in Central Europe: The Case of FDI-Related Policies in Hungary Since 2010

Market Liberalism and Economic Patriotism in the Capitalist World-System: The Emergence of the... [Hungary was regarded a success story of FDI-led development model in Central and Eastern Europe during the 1990s. The country underwent fundamental economic changes which resulted in sound macroeconomic performance. Neighbouring countries could caught-up in FDI attraction instead of FDI transfers from the EU-fuelled economic growth. Critiques-dominated communication and support of selected local companies and clients increased. The capital attraction policy changed from normative to selective measures. Moreover, multinational businesses in trade, communication, and financial services were levied with various surcharges. The chapter analyses the new FDI management toolkit of the Hungarian government. The main conclusion is that the new policy is not a form of economic patriotism but rather a form of patronage in crony capitalism.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Market Liberalism and Economic Patriotism in the Capitalist World-SystemThe Emergence of the Patronage State in Central Europe: The Case of FDI-Related Policies in Hungary Since 2010

Part of the International Political Economy Series Book Series
Editors: Gerőcs, Tamás; Szanyi, Miklós
Szanyi, Miklós
Market Liberalism and Economic Patriotism in the Capitalist World-System — Feb 7, 2019
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27 pages

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2019
ISBN
978-3-030-05185-3
Pages
99 –126
DOI
10.1007/978-3-030-05186-0_6
Publisher site
See Chapter on Publisher Site

Abstract

[Hungary was regarded a success story of FDI-led development model in Central and Eastern Europe during the 1990s. The country underwent fundamental economic changes which resulted in sound macroeconomic performance. Neighbouring countries could caught-up in FDI attraction instead of FDI transfers from the EU-fuelled economic growth. Critiques-dominated communication and support of selected local companies and clients increased. The capital attraction policy changed from normative to selective measures. Moreover, multinational businesses in trade, communication, and financial services were levied with various surcharges. The chapter analyses the new FDI management toolkit of the Hungarian government. The main conclusion is that the new policy is not a form of economic patriotism but rather a form of patronage in crony capitalism.]

Published: Feb 7, 2019

Keywords: FDI; FDI attraction; Patronage; Rent-seeking

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