Towards a set of indices for relational economy on the example of Hungary

Madlovics, Bálint and Magyar, Bálint (2023) Towards a set of indices for relational economy on the example of Hungary. ACTA OECONOMICA, 73 (1). pp. 101-127. ISSN 0001-6373

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Abstract

While informal relations between economic and political actors are prevalent in post-communist economies, proper tools for their quantitative measurement are lacking. This paper is a starting point for thinking about this issue. Relying on previous research (Magyar – Madlovics 2020), we elaborate the concept of ‘relational economy,’ and discuss the problem of measuring its peculiar phenomena by existing direct and indirect data. Towards a set of indices for relational economy, we consider the use of proxies in three ways: (1) a radar chart composed of specific company data; (2) ‘moments of truth’ when property movements reveal an actor's de facto ownership status; and (3) ‘moments of truth’ when adoption to or exclusion from the informal patronal network is accompanied by a significant change in financial situation. Illustrations to each of the three methods are provided from the case of Hungary after 2010.

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