A gazdasági válság hatásai városon innen és túl
The Impacts of Economic Crisis Within the City and Beyond It

Summary/Abstract: Economists, financial experts and politicians for years ignored the stormy clouds cumulating above the global economy. The recession later brought great waves of transformation not only in the core economic zones but also in smaller countries with open economy like Hungary. These countries faced and still face particularly difficult situation in Europe, therefore assessment of the impacts of global crisis on the local economy and society is extremely important for such smaller countries. This paper first briefly outlines few relevant theories on the current crisis and the consequences of the crisis in the European Union, and then it focuses on the most important socio-economic outcomes in Hungary. The paper pays special attention to the changes that took place in the national economy, the labour market and their effects on the situation of households. Most relevant results of empirical survey on the opinions of urban residents about the consequences of economic crisis are also highlighted.

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