Drivers of Regional Economic Growth in Hungary before and during the Pandemic Crisis

Abstract

The 2010s saw a gradual improvement in economic growth in Hungary, which was noticeable in all regions. In this research, we examine the post-crisis economic development trends in a NUTS 3 level disaggregation in the context of the dependent market economy model. The research uses descriptive and multivariate statistical analysis to shed light on the main regional trends. Notable changes occurred mainly in the top and middle performing counties in terms of output, while the bottom of the ranking was characterized by stagnation. Territorial disparities have temporarily narrowed, but there has been no significant catching up of lagging regions.

Keywords

• regional economic growth
• hungary
• foreign direct investments
• labour market
• dependent market economy model