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1

The adjustment cost of the Association Agreement in the Hungarian food industry

100%
Ferto I.
Kozgazdasagi Szemle (Economic Review)
|
2006
|
vol. 53
|
issue 9
799-811
EN
The article examines the structure of Hungary's food trade expansion over the 1995- 2003 transition period and its implications for labour-market adjustment. An econometric analysis of trade and employment data suggests that changes in domestic consumption and productivity have significant influence on employment changes. Strong positive and significant effects on these are also exerted by market concentration, while FDI has no influence on them. The results do not provide clear support for the smooth-adjustment hypothesis of intra-industry trade. However, the results should be interpreted with care, due to sensitivity to choice of period and lag structure.
2

Trade within vertically and horizontally differentiated industries on the milk market of the European Union

100%
Ferto I.
Kozgazdasagi Szemle (Economic Review)
|
2006
|
vol. 53
|
issue 6
526-539
EN
The paper examines bilateral intra-industry trade (IIT) in the EU dairy products industry in 1993-2000, disentangling vertical from horizontal IIT and analysing the determinants of both IIT types. The results lend support to the contention that there are different determinants for horizontal and for vertical IIT. The GDP per capita variables show mainly expected and significant signs. The regression results are robust for different specifications and when alternative values to separate horizontal from vertical IIT are considered.
3

The choice of supply channels in the Hungarian fruit and vegetable sector - a case study

63%
Ferto I., Szabo-G G.
Kozgazdasagi Szemle (Economic Review)
|
2004
|
vol. 51
|
issue 1
77-89
EN
The agricultural reform in Hungary broke the previously vertically integrated agri-food system along various lines. The structures of agriculture, the food industry and food retailing have fundamentally changed, in ways that have also influenced the vertical governance structures in the sector. The aim of this paper is to investigate the choice of supply channels in the Hungarian fruit and vegetable sector available to farmers by employing the framework of transaction-cost economics. The authors' analysis is based on a survey of marketing-channel choices by fruit and vegetable producers in Csongrád County. A multinomial logit model is applied to reveal on the determinants influencing the choice among various supply channels. The results seem to contradict some of the basic propositions of transaction-cost economics.
4

The effect of soft budget constraint and credit-market imperfections on investments in Hungarian agriculture

51%
Ferto I., Bakucs L. Z., Fogarasi J.
Kozgazdasagi Szemle (Economic Review)
|
2007
|
vol. 54
|
issue 4
322-333
EN
The study uses econometric methods to examine imperfections in Hungarian agriculture in the 2001-5 period. The findings confirm the presence of credit-market imperfections in the whole sample examined. Financing constraints are faced by farms with a low stock of debt, mainly farming rented land. Further calculations show the presence of softness of the budget constraint on highly indebted agricultural firms.
5

The dynamics of agri-food trade patterns - the accession countries' case.

51%
Ferto I., Hubbard, L.
Kozgazdasagi Szemle (Economic Review)
|
2005
|
vol. 52
|
issue 1
24-38
EN
The article describes the evolving pattern of agri-food trading in Central European countries, using recently developed empirical procedures based on the classic Balassa index and a symmetrical transformation of it. The degree of trade specialization shows a declining trend. Central European countries have been losing their comparative advantage in a number of product groups. Their indices of specialization have also tended to converge, although they display greater variation in certain product groups. They are stable for product groups showing a comparative disadvantage, but product groups for which these countries have a weak to strong comparative advantage show significant variation. The findings back the idea that there is a general decrease in specialization, but they do not support the notion of self-reinforcing mechanisms that has been emphasized strongly in much literature on endogenous growth and trade.
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