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The service sector and economic development

100%
Szalavetz A.
Kozgazdasagi Szemle (Economic Review)
|
2008
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vol. 55
|
issue 6
503-521
EN
The author's initial observation is that alongside the accelerating increase in the weight of the service sector in the macroeconomic structure of the developed countries, there has been a still more important transformation of the sector's internal structure. This transformation can largely explain the new characteristics of the sector. The problems of measurement of the service sector make it worthwhile to approach its productivity by indirect means. The article augments the traditional indices of labour and all-factor productivity with indices of factor application, and argues from this that there has been an alteration in the effect of productivity on this sector, which is changing rapidly in its structure, its factor-application indices and its role in the economy. The author sets out to illuminate the structural transformation in terms of change in the demand for services. Breaking down total demand for services into its constituents (intermediate use, final use, investment and exports) shows that the structure of demand has shifted away from final use towards intermediate use and investment.
2

AMBITIOUS TRANSNATIONAL CORPORATIONS - THE EXAMPLE OF CHINA IN THE LIGHT OF CLASSICAL THEORY (Feltorekvo transznacionalis tarsasagok - a kinai pelda a klasszikus elmelet tukreben)

100%
Szalavetz A.
Kozgazdasagi Szemle (Economic Review)
|
2009
|
vol. 56
|
issue 12
1125-1137
EN
Some analysts have concluded from case studies on Chinese and other South-East Asian exporters of operating capital that time is up for Dunning's mainstream eclectic theory of the features of capital flows and the development of the investment path. This article contributes to this debate, based on the example of Chinese capital exports. After reviewing the attributes and motives of Chinese capital exporters, in the light of the theory of international capital investment, the author investigates whether the capital exports of developing/converging countries and the appearance of ambitious transnational corporations really does call for a new theory.
3
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INTANGIBLE INVESTMENTS AT MULTINATIONAL COMPANIES’ MANUFACTURING SUBSIDIARIES: DO THEY PROMOTE INNOVATION-BASED UPGRADING?

100%
Szalavetz A.
Equilibrium. Quarterly Journal of Economics and Economic Policy
|
2017
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vol. 12
|
issue 1
63-80
EN
Research background: Despite a widely acknowledged importance of intangible capital as the main driver of value creation, papers discussing corporate intangible investments tend to focus only on multinational companies, i.e. on headquarters (HQ). There are few papers scrutinising the specific attributes of intangible investments at manufacturing subsidiary level. This is, however, an important topic to investigate, since intangible investments can boost subsidiary upgrading. Intangible investments contribute to subsidiaries’ acquiring capabilities that allow them to enhance the scope of their responsibilities and specialise in increasingly high-value activities. Purpose: The purpose of this paper is to explore the features of intangible investment at MNCs’ manufacturing subsidiaries, on the example of Hungary. Research questions addressed are as follows. a) What exactly do local manufacturing subsidiaries invest in, when they implement intangible investments? b) Is there a difference between the role of intangible investments at MNC level and at manufacturing subsidiary level? c) What is the association between subsidiary-level intangible investments and upgrading? Methodology: We analyse a sample of 44 manufacturing subsidiaries in the Hungarian automotive and electronics industries. We carry out a qualitative content analysis of sample companies’ notes to their financial statements, complemented with other sources of corporate information. Findings: We find that intangible investments are aligned with subsidiaries’ functional specialisation: with operations. Their main role is to contribute to subsidiaries’ absorption of the headquarters’ technology transfer and enhance the productivity of the local core activities. This is sharply different from their traditional, MNC-level role: support to non-price competitiveness. We find support for the argument that subsidiary-level intangible investments and subsidiary upgrading are associated in a self-reinforcing virtuous circle.
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