Reindustrialization in the World and in Hungary

Abstract

Rapid change occures recently in the global industrial division of labour, with growing relocation activities after the turn of the millennium. Industry is moving from one country to another; in some cases (such as in the United States and in Western Europe) deindustrialisa- tion, in others industrialisation became a typical process. Developing countries are increasing their shares in global industrial labour and output values, as both the traditional and the new (or high-tech) industries are showing high growth rates. The peripheries of Europe, so as East- Central-European countries are characterised by reindustrialisation where traditional industries are declining, industrial structure is changing but industry as a sector is leading the economic deve- lopment further on. In these processes, foreign direct investment and international relocation have a considerable influence. The mentioned distinction (deindustrialisation, industrialisation and reindustrialisation) can be also useful when a country is examined/studied. 1n this paper, the Hungarian shifts are presented in particular: from the mid-1990s more and more counties show reindustrialisation pattems, most apparently the Western counties. Apart from the regional differences, industry is the key sector in the economic development in the whole country.