Köz-gazdaság - Review of Economic Theory and Policy

Tartalom | Contents

Köz - gazdaság — Fri, 26 Sep 2025 00:59:32 +0200

Editorial Note: Ukraine’s Reconstruction and the V4’s Strategic Responsibility

Oleg Tankovsky — Fri, 26 Sep 2025 00:00:00 +0200

The war in Ukraine has generated the greatest political, social, and economic challenge to Europe since the end of the Cold War. The devastation of infrastructure, industry, and communities is immense, yet the process of reconstruction has already begun. Unlike earlier episodes of post-conflict recovery, Ukraine’s trajectory is inseparable from its aspirations for European Union membership, and therefore from the interests of its immediate neighbours. For the Visegrád Four (V4) countries — Poland, Hungary, Slovakia, and the Czech Republic — Ukraine’s integration represents both an extraordinary challenge and a historic opportunity. This special issue of the journal brings together a set of articles that engage with different facets of Ukraine’s reconstruction and integration. Collectively, they demonstrate that the challenges Ukraine faces cannot be reduced to technical fixes or isolated reforms. They concern the very principles of statehood, development, and governance in a post-war context. At the same time, they reveal that Ukraine’s path forward is intimately tied to the strategies, policies, and political choices of the V4 countries, which have themselves undergone profound transformation since the 1990s.

Finding Alternative Growth Engines in Central and Eastern Europe

Köz - gazdaság — Fri, 26 Sep 2025 00:00:00 +0200

Review of Economic Theory and Policy (RETP) interviewed Andrea Szalavetz, scientific advisor at the Institute of World Economics, Centre for Economic and Regional Studies, ELTE. Her research focuses on upgrading in global value chains, digital transformation and regional differences in technological development and innovation capabilities. In this interview, we discuss how Central and Eastern Europe (CEE) could transition from a development model dependent on foreign direct investment (FDI) to a more innovation-oriented and resilient trajectory. We also examine the technology and entrepreneurship ecosystem in the region, as well as the impact of developments in the defence industry and industrial policy on future growth.

Ukraine’s Reconstruction Pathways: Agriculture, Migration, Education, and the Europeanisation of Post-War Recovery

Oleg Tankovsky — Fri, 26 Sep 2025 00:00:00 +0200

This article examines Ukraine’s reconstruction through the lens of post-conflict recovery, European integration, and sectoral transformation. Drawing on comparative cases from the Balkans, Caucasus, and East Asia, it identifies five interdependent domains that shape Ukraine’s trajectory: agriculture, rural development, trade and EU integration, labour migration, and education. The analysis highlights how Ukraine’s recovery is unfolding in the midst of war, requiring parallel rather than sequential reforms. Europeanisation provides a unique anchor, aligning domestic transformation with accession incentives. Findings emphasise the need for demining, inclusive rural revitalisation, diversification of exports, circular migration strategies, and youth-centred education reform. The discussion underscores that reconstruction must be mutually reinforcing across sectors, locally embedded through decentralised governance, and safeguarded by transparency and equity. By synthesising comparative insights and policy frameworks, the article argues that Ukraine’s reconstruction represents both a national imperative and an important priority for European states. It concludes that success will depend on transforming vulnerabilities into opportunities, sustaining reform momentum under war conditions, and institutionalising inclusive, interdependent, and human-capital-centred recovery strategies.

Anti-Corruption Reforms in Ukraine: Institutional Progress and Public Perception in the Context of EU Integration

Anastasiia Kychak — Fri, 26 Sep 2025 00:00:00 +0200

Corruption has long been one of Ukraine’s most pressing issues, imposing significant costs on the state budget, businesses, and citizens while discouraging investment and undermining the rule of law. Combating corruption is also essential for Ukraine’s EU integration, given that compliance with anti-corruption standards is a core accession requirement. This article explores the evolution and effectiveness of Ukraine’s anti-corruption reforms in the context of European integration. It analyses the historical and structural features of corruption in Ukraine and identifies its dominant form as being driven by the elite. Using a combination of policy analysis alongside public opinion data, the study evaluates the implementation of reforms and how society perceives their impact. Despite notable institutional progress, public trust remains limited, highlighting a discrepancy between formal advancements and citizens’ perceptions. By comparing reform outcomes with public opinion, the article highlights the crucial role of civil society and businesses in sustaining anti-corruption efforts and provides policy recommendations to strengthen public credibility and ensure the long-term success of reforms. The recent controversy surrounding Law No. 12414, which temporarily undermined the independence of Ukraine’s key anti-corruption bodies, highlights the importance of robust anti-corruption frameworks and an engaged civil society.

Return of Industrial Policy in the V4 Countries: Insights From the NIPO Database

Dorottya Szabó, Helena Drdlová, Tamás Tibor Csontos — Fri, 26 Sep 2025 00:00:00 +0200

Industrial policy, which has long been marginalised in economic thought, is now experiencing a global revival. This new industrial policy renaissance has also reached the dependent market economies of the Visegrád Four (V4). However, there has been limited quantitative analysis of industrial policy in the region. This paper addresses this gap by using the recently developed NIPO database to evaluate industrial policies in Slovakia, Hungary, the Czech Republic, and Poland between 2017 and 2023. In addition to the core NIPO categories, we have developed a customised classification system to analyse the objectives, beneficiaries and primary funding sources of industrial policy interventions. According to our results, the V4 countries, which predominantly outsourced their industrial policy to multinational companies after the 1989 regime change and focused on attracting FDI, started to implement vertical, sector-specific interventions alongside horizontal industrial policy. Nevertheless, this shift remains heavily dependent on external financing, particularly EU and EIB funds, and continues to prioritise foreign firms, highlighting the ongoing reliance on the dependent market economy model. Based on the results, we identify four distinct national industrial policy trajectories: Slovakia's industrial policy is the most EU-embedded, with a particular focus on the automotive industry. Hungary's industrial policy is centred on domestic resources, but heavily supports foreign (notably Asian) capital. In contrast, Poland pursues an industrial policy oriented towards domestic firms, while the Czech Republic's industrial policy is EU-embedded and focused on foreign firms, but with a more diverse and RDI-focused approach than Hungary's.

Ukraine’s Green Reconstruction: Environmental Challenges and EU Integration Opportunities

József Ráti — Fri, 26 Sep 2025 00:00:00 +0200

Ukraine’s reconstruction must follow a sustainable path, not only to restore destroyed infrastructure but also to secure long-term competitiveness, energy security, and progress toward EU accession. This study examines the challenges and opportunities of post-war “green reconstruction,” defined here as a strategy that integrates decarbonization, circular economy practices, biodiversity restoration, and energy efficiency. This definition is adopted to ensure consistency with the European Green Deal pillars and with international climate and biodiversity commitments. The analysis highlights how environmental damage caused by the war interacts with pre-existing structural weaknesses, such as dependence on heavy industry, outdated infrastructure, and limited policy implementation. Drawing on official reports, EU and UN documents, and recent peer-reviewed research, the paper explores issues of pollutant emissions, waste and natural resource management, and the implications of the European Green Deal. Findings indicate that over 230 million tons of greenhouse gases were released in the first three years of the war, while at least US$35 billion in renewable energy investment will be required to meet climate targets. The study argues that reconstruction cannot be separated from European integration: achieving sustainability will demand comprehensive institutional reforms, stronger public participation, and close international cooperation, including concrete measures such as rapid ETS alignment, CBAM adaptation for industry, and mandatory circularity in reconstruction contracts.

Ukrainian Textile and Garment Industry: Navigating War and EU Integration

Emese Dobos, Anastasiia Kychak — Fri, 26 Sep 2025 00:00:00 +0200

Ukraine's textile and garment industry has long been a vital part of the national economy, supported by a skilled and cost-effective workforce, competitive manufacturing conditions, and low overhead costs. By early 2020, over 90 per cent of the sector's workforce was female, mostly engaged in low-value-added assembly work. However, the full-scale war has severely disrupted the industry—many manufacturing facilities have been destroyed, international buyers have withdrawn, and supply chains have been interrupted. Despite these difficulties, several firms have demonstrated remarkable resilience, continuing production and adapting operations amid wartime conditions. Simultaneously, Ukraine's path towards European Union accession has sped up, and trade relations with the EU have strengthened over the past decade. These developments offer both opportunities and considerable challenges for the textile and garment sectors. To fully capitalise on EU market access and value chain integration, the industry must undertake substantial upgrading initiatives to boost competitiveness and meet EU standards. The conceptual paper examines the main obstacles the Ukrainian textile and clothing industry must overcome to achieve industrial modernisation, social sustainability, and regulatory alignment with the EU. These include post-war reconstruction, technological modernisation, and compliance with the EU's stringent regulatory framework.

Redefining Prosperity: A Review of Buddhist Economics and Its Vision for a Balanced World

Migel Hewa Hansi Sandu Tharaka — Fri, 26 Sep 2025 00:00:00 +0200

Buddhist Economics: An Enlightened Approach to the Dismal Science by Clair Brown opens a new perspective on economics. Being a Buddhist from Sri Lanka, the majority of the population comes from Buddhism which means over 75% of the total population, I found this book very meaningful. Brown explains how economics should aim at reducing suffering and taking care of the environment rather than just generating income, which perfectly fits within the concepts of Buddhism. In this review, I will discuss the main messages of the book, what makes it strong and why it matters for the present world.