Globalisation and Regional Development

Abstract

The most successful cities and regions of rapid social and economical transformation in CEE countries could solve their crisis through attracting foreign direct investment that meant the integration to the global economy for them. However, the possible ways of further development seem to be unclear due to the increasing discrepancies of global economy. It means that many well developed subregions and cities are facing with the issue of sustainability. In this way, the possibility to maintain and improve the dynamics of economic and social development became the most actual question.

For this reason, this paper is aimed at describing the concrete local social and economic effects of globalisation. To reach this goal we attempt to analyse local, globalisation based processes through an empirical research in Székesfehérvár. Additionally we try to describe favourable and unfavourable consequences and the role –and it's changing – of upper class in realisation of local globalisation.

In the authors view the ways of avoiding the problems derive from globalisation might be better managed by knowing these processes.