Comparative Analysis of the Economic Development Paths of Hungarian Counties

Abstract

The literature has analysed economic growth issues for nearly 250 years, and formulated theories, indicators and calculations. The same cannot be observed for economic development. This is reflected, among others, by the fact that some publications still use the terms economic growth and development synonymously. In the present study, the authors, after a brief theoretical overview of economic development and path dependency, quantified the economic development of 19 Hungarian counties and the capital city using a complex index, and then examined the changes in the index between 1995 and 2019. The final part of the paper analyses the expected similarities and differences in the development paths up to 2024. The counties have followed different development paths over the last 25 years, a trend that is also reflected over the forecast horizon. The development trajectories of the counties are more sensitive to shocks than the paths of specific GDP output, due to global, macro and local shocks that occur from time to time.

Ex-Ante Analysis of Macro-Regional Development in the Visegrad Countries, with Special Emphasis on Some Turbulent Periods

“…zdobywanie wyższego wykształcenia, dłuższe życie w dobrym zdrowiu itp.) (Kocziszky, Szendi, 2021). Innymi słowy, wzrost gospodarczy jest ważnym, ale niewystarczającym warunkiem rozwoju (Kocziszky, Benedek, 2012).…”

“…Economic development means more and qualitatively different (e.g., higher education, longer life expectancy in good health, etc.) than expanding output (Kocziszky, Szendi, 2021). In other words, economic growth is an important but not sufficient condition for development (Kocziszky, Benedek, 2012).…”

Quo Vadis, Market Economy? Challenges of Sustainability and Values, Possible Answers

“…A significant number of these criticisms recommend that, instead of growth (GdP), development should be measured, through which the quality of life (health, financial wellbeing, quality of public services, demographic processes, state of the environment) can be monitored together (eeSC, 2009;Kocziszky & Szendi, 2021).…”

Assessing the sustainability of spatial development decisions

“…Criticisms have been levelled at the unfair distribution of resources ("the poor get poorer, the rich get richer") and the scarce nature of resources, which does not allow for infinite growth. Much of the criticism is therefore based on the idea of measuring development rather than growth (GDP), which would make it possible to monitor quality of life (health, material well-being, quality of public services, demographic trends, state of the environment) (EESC, 2009;Kocziszky & Szendi, 2021). It follows from the above that instead of measuring growth based on GDP, a more complex measure is needed, based on value added, activity rate, net self-financing capacity, investment rate and green purchasing rate (Table 3).…”