Innovation-Driven Enterprises in Hungary: Empirical Results at First Sight

Kovács, Stefan and Nemeslaki, András (2024) Innovation-Driven Enterprises in Hungary: Empirical Results at First Sight. FINANCIAL AND ECONOMIC REVIEW, 23 (3). pp. 43-70. ISSN 2415-9271

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Abstract

This study examines the issue of the middle-income trap in the Hungarian economy and the possibilities for escaping it, given the end of the period of extensive growth and the need for a new growth model. Innovative companies, especially SMEs, have a key role to play in this transformation, as they can differentiate themselves in the market and achieve international success. Our research analyses business capabilities that contribute to gazelle-like growth and export market competitiveness. Adapting the experience gained from the MIT REAP programme to the Hungarian context, we examine the importance and characteristics of Hungarian innovation-driven enterprises. The study highlights the importance of developing financial, technological and human resources, and the need to create a favourable market and regulatory environment. To increase the number of HIDE enterprises and promote sustainable economic growth in Hungary, it is crucial to understand their operation and impact in more depth, which necessitates further research.

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