Introduction of Member Institute: Institute for World Economics, Research Centre for Economic and Regional Studies of the Hungarian Academy of Sciences, Hungary

Logo IWEAs a member institute of the Hungarian Academy of Sciences, the Institute was established in 1973 on the basis of a research group dealing with problems of developing countries since the mid-sixties. From the very beginning, the basic research philosophy of the Institute consisted of

–       combining theoretical research with policy-oriented analysis and advice,
–       creating a balance between global, European and regional research,
–       analysing the manoeuvring room of Hungarian economic policy options in the context of relevant global, European and regional development trends,
–       focusing on macroeconomic approach but not ignoring key microeconomic experience,
–       interdisciplinary approach by including into economic analysis historical, political, social and institutional factors influencing both research initiatives and policy-oriented recommendations,
–       establishment of and strong involvement into the international network of economic research institutes.

Originally, the Institute’s organizational structure was based on three pillars: socialist economies, capitalist economies (mainly OECD members) and developing economies. From the early 1980s, outstanding attention was paid to the comparative analysis of Central and Eastern European economic developments, to the ongoing economic „convergence” between „East” and „West” and, particularly, to the investigation of key trends in the process of (Western) European integration. Following the systemic change in 1989-1990, the emphasis of research shifted to the comparative survey of economic transformation in Central and Eastern Europe and to Hungary’s preparation for accession negotiations with the European Union. Finally, after 2000 preparation for and experience with full-fledged membership in the EU, as well as new global economic developments, including the character, management and consequences of the global financial and economic crisis represented the key orientation of theoretical and policy-oriented research activities.

As a result of the reorganization of the academic research structure, since 2012 the Institute has become member of the Centre for Economic and Regional Studies. The current structure of research is organized in three main research groups.

The research group on European integration deals with crisis management, role of the Euro, the EU’s trade policy, regional convergence, EU-budget, experience with membership of the new member countries, different growth patterns with special regard to export-oriented path of development

The research group on development economics pays special attention to emerging countries, successful and failed catching-up efforts, integration of developing countries into the global economic and institutional structures, global problems of the developing world, including food security and energy issues, as well as Hungary’s bilateral cooperation possibilities with selected developing/emerging economies. Special emphasis is laid on Russia, China, post-Soviet countries and selected emerging economies.

The research group on economics of globalization investigates shifts in the global economic landscape, the role of transnational companies, developments of the international financial markets and institutions, global labour market trends of employment and migration, economic security issues as well as the role of institutions in multilateral cooperation.

The Institute has different publication forums (books, research paper series, blogs), both in Hungarian and English. Intensive involvement into international activities includes international organizations, TEPSA network, regional cooperation mainly with EU-related institutes (mainly Germany, Austria, Ireland, Brussels-based think tanks) and Central and Eastern European research centres (Poland, Czech Republic, Slovakia, Slovenia, Romania, Bulgaria, Croatia, Estonia), as well as bilateral academic and non-academic relations with several post-Soviet countries, China, Vietnam.

More information can be found here.