THE EXCHANGE RATE AND FOREIGN DIRECT INVESTMENT IN HUNGARY

Devizni tečaj je ena izmed najpomembnejših cen v ekonomiji, saj pomembno vpliva na izvoz in uvoz blaga in storitev ter vpliva na mednarodno konkurenčnost gospodarstva. Delo diplomskega seminarja povzema sistem in gibanje deviznega tečaja valute Madžarske v obdobju od januar 1999 do oktober 2010. Madžarska uporablja sistem fleksibilnega deviznega tečaja in sicer alternativo plazeči deviznotečajni sistem (crawling peg) s pasom ±2.25 %. Devizni tečaj madžarskega forinta je v obravnavanih obdobjih, v primerjavi z evrom dokaj stabilen, večja nihanja so zgolj v obdobju svetovne gospodarske krize. Na podlagi efektivnega deviznega tečaja smo ugotovili, da ima madžarsko gospodarstvo dober konkurenčni položaj med gospodarskimi partnericami. Neposredne tuje investicije so pomemben dejavnik gospodarske rasti, še posebej za gospodarstva v tranziciji, kamor sodi tudi Madžarska. Poleg svežega kapitala, ki se običajno omenja kot glavna prednost tujih investicij, so neposredne tuje investicije predvsem instrument mednarodnega prenosa razvojnih dejavnikov, kot so tehnologija, management, dostop do tujih trgov, integracija v mednarodno gospodarstvo in znanja v najširšem smislu. Madžarska je po obsegu neposrednih tujih investicij na prebivalca danes vodilna v državah vzhodne in srednje Evrope. Obseg neposrednih tujih investicij je v 12 letih dosegel priliv 32.564,31 milijarde evrov.The exchange rate is one of the most important prices in the economy, it have a significant impact on exports and imports of goods and services. The exchange rate influences the international competitiveness of an economy. The thesis summarizes the system and movement of exchange rate in Hungary in the period from January 1999 to October 2010. Hungary operates in a system of flexible exchange rate through a crawling exchange rate system alternatives (crawling peg) with a belt ± 2.25%. Hungarian forint exchange rate was relatively stable compared to the Euro, higher volatility, is only in the period of global economic crisis. On the basis of the effective exchange rate, we found out that the Hungarian economy has a good competitive position among economic partners. Direct foreign investments are an important factor in economic growth, particularly for economies in transition, which also includes Hungary. Besides the fresh capital, which is usually referred to as a main priority of foreign investment, foreign direct investments enable transfer of international development factors, such as technology, management, access to foreign markets, integration into the international economy and knowledge in the widest sense. Hungary is in volume of direct foreign investment per capita today a leader in Central and Eastern Europe. The volume of foreign direct investment in 12 years has reached an influx of 32,564.31 billion