How Did the Automotive Component Suppliers Cope with the Economic Crisis in Hungary?

Eric Rugraff and Magdolna Sass

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Abstract: This article studies the reaction of automotive component suppliers in Hungary to the 2008–2009 economic crisis. We find that the global suppliers viewed the crisis as an opportunity to reinforce the competitiveness of their Hungarian affiliates by engaging in product and process upgrading, and upgrading through research and development. The regional suppliers combined defensive strategies aimed at reducing costs with offensive measures in the form of product upgrading, production upgrading and expansion into new markets. The local suppliers reduced costs and reduced their workforce, but also reacted offensively by expanding into new markets, upgrading their activity and collaborating with other local suppliers.

Keywords: Economic crisis; Hungary; Automotive component suppliers (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

Published in Europe-Asia Studies, 2016, 68(6), pp.1396-1420. ⟨10.1080/09668136.2016.1221062⟩

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Journal Article: How Did the Automotive Component Suppliers Cope with the Economic Crisis in Hungary? (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01743538

DOI: 10.1080/09668136.2016.1221062

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