Abstract
The opening of Central and Eastern European countries to world markets during the transition process and the conditions for EU access, as set in 1993, lead us to inquire into Eastern Europe's ability to cope with international competition. This empirical study investigates the competitiveness of Hungarian firms. It is often thought that production costs are the only advantage that CEECs have in international competition. Herein, these costs are placed in the context of other competitiveness factors, examined through 176 variables. Key determinants are brought to light through a principal components analysis and a Pls regression : foreign direct investments rank first, followed by the adaptation of products to local needs, the market share and the product itself. Production costs come in fifth.
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