Karsai, Judit

research advisor

Karsai, Judit

research advisor


Research group

Empirical Industrial Organisation


Short professional bio

Judit Karsai has been working at the Institute of Economics, Research Centre for Economic and Regional Studies, Hungarian Academy of Sciences (formerly the Research Institute of Industrial Economics of the Hungarian Academy of Sciences) since 1982 as a senior research fellow and since 2019 as a scientific advisor.

Following graduation of her studies at the (then Karl Marx) University of Economics she worked as an export market researcher for Tungsram Lighting Co. from 1977 to 1982. She received a degree in international economics from the Advanced Training Institute of the Karl Marx University of Economics in 1982. She received Ph.D. degree in economics in 1994 and Doctor of Science degree from the Hungarian Academy of Sciences in 2019.

She has published regularly on the subjects of private equity and venture capital financing, management buy-outs, corporate governance, reorganization of companies and enterprise behaviour.

She has participated in numerous joint international research activities and has acted as coordinator and participant in several projects supported by the World Bank and the Commission of the European Union to investigate the behavior of enterprises in Central and Eastern Europe during transition. The Commission also funded the 5-country project coordinated by Judit Karsai which analysed venture capital and private equity financing in Central and Eastern Europe.

She gave a thorough analyse of the venture capital and private equity industry in the Central and Eastern European (CEE) region in her three books: ‘Private Equity in CEE‘ published in 2010;  ‘The new kings of capitalism. Venture capital and private equity in the CEE region‘ (published in 2012, in Hungarian) and ‘The Odd Couple. Government participation in the CEE venture capital market‘ (published in 2017, in Hungarian).

She was a member of the Editorial Board of the Venture Capital: An International Journal of Entrepreneurial Finance. Since 1999 Judit Karsai has been a member of the Scientific Committee on Business Economics (formerly Industrial Economics) of the Hungarian Academy of Sciences. Between 2000 and 2009 she was the Chairman of the Statistical and Professional Committee of the Hungarian Venture Capital and Private Equity Association (HVCA). Since then she has been a member of the Education Committee of the HVCA.


Current research areas:

Develoment of business incubation institutions in CEE

Economic Impact of Private Equity and Venture Capital Investments in Hungary

Sources of Private Equity and Venture Capital Investments in CEE

Changes in the Role of Government in the Venture Capital Market


Curriculum Vitae


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