Hungary Embracing Globalization: The Challenge of Competitiveness

This think piece is an attempt to survey the evolution of competitiveness in a small open economy under the angle of costs and benefits of globalisation. First a historical survey assesses the road leading to the present sage of transnationalization. Then a situation assessment is presented, followed by a survey of challenges and factors of competitiveness. Finally some general lessons are listed, without attempting to be exhaustive.