Divergence in the Socioeconomic Development Paths of Hungary and Slovakia
Divergence in the Socioeconomic Development Paths of Hungary and Slovakia

Summary/Abstract: This study aims to provide a comparative analysis ofsocioeconomic development in Slovakia andHungary. For this purpose, we use the State of theFuture Index (SOFI) to measure and forecast thesocioeconomic well-being of both the countriesfrom 1995 to 2015. The SOFI methodology hasmany characteristics that are in line with the 2009Stiglitz–Sen–Fitoussi report. We find that during1995–1999, Slovakia had a higher overall SOFI total,signifying a higher level of well-being; subsequently,however, Hungary pulled ahead between 1999 and2005, after which Slovakia overtook Hungary yetagain. Our predictions suggest that Slovakia willcontinue to pull ahead in the 2015–2025 period. Theareas where Hungary has scope for considerableimprovement are life expectancy, GDP per capita,renewable energy resources and CO2 emission andgovernment debt. In some areas, both countriesperform poorly: level of corruption anddemographic trend. However, Hungary seems tohave an advantage in R&D expenditure,unemployment level and voter turnout.

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