Author information:
László Bódis https://orcid.org/0009-0006-3952-3476: Ministry of Culture and Innovation (KIM), Deputy State Secretary for Innovation; Hungarian Innovation Agency (NIÜ), Chief Executive Officer.
Ádám Kiss https://orcid.org/0009-0003-2189-6598: National Research, Development and Innovation Office (NRDI Office), President. E-mail: elnok@nkfih.gov.hu
Abstract:
Productivity is significantly higher in countries that consistently spend at least 3 per cent of GDP on R&D, irrespective of economic cycles. Increasing productivity is necessary to boost the competitiveness of the economy and accordingly, significant growth in domestic R&D expenditure is essential. The challenges of the Hungarian RDI ecosystem have been properly identified, and the policy actions of recent years have put in place a strategic, institutional and funding framework to achieve these goals. In the long term, the objective is to create an ecosystem that is self-sustaining on a market basis, but where the state assumes a key role in designing the regulatory environment and the funding and supporting instruments. By systematically implementing the strategy outlined in this article, Hungary may be able to boost its economic performance through innovative, Hungarian-owned firms capable of producing high value-added products.
Cite as (APA):
Bódis, L., & Kiss, Á. (2025). Innovation-driven Economic Growth – How Hungary Will Be Home to Innovative Entrepreneurs and Enterprises. Financial and Economic Review, 24(1), 101–131. https://doi.org/10.33893/FER.24.1.101
Column:
Our Vision (Essay)
Journal of Economic Literature (JEL) codes:
O30, O38, O40
Keywords:
RDI ecosystem, innovation by SMEs, economic competitiveness, value added, public incentives to promote innovation
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