Spatial Distribution of Hungarian Innovation-Driven Enterprises

Szoboszlai, Mihály (2024) Spatial Distribution of Hungarian Innovation-Driven Enterprises. FINANCIAL AND ECONOMIC REVIEW, 23 (3). pp. 18-42. ISSN 2415-9271

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Abstract

The Magyar Nemzeti Bank’s 2023 Growth Report identified 1,100 innovation-driven enterprises that demonstrated exceptional growth in the 2010s. These enterprises not only exhibited rapid expansion, but they also engaged in significant innovation during the previous business cycle. According to the descriptive findings of the report, these firms are mostly located in the capital and in counties where there are universities with multiple faculties. This study investigates whether the concentration in the capital city is a unique phenomenon considering the firm demographic characteristics of the counties. The prevalence of innovation-driven enterprises did not significantly differ in six counties compared to Budapest, when considering the scope of activity, size, ownership structure and age of these firms. These counties were Baranya, Csongrád-Csanád, Fejér, Hajdú-Bihar, Heves and Szabolcs-SzatmárBereg.

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