Fiscal Adjustment in the Transition Process: Hungary, 1990-1999
Gabor P. Kiss
National Bank of Hungary - Economics & Research Department
National Bank of Hungary
Post-Soviet Geography and Economics, Vol. 41, No. 4, June 2000
Two economists of the National Bank of Hungary review fiscal developments during a decade of transition in Hungary. The paper examines the role of fiscal policy in stabilizing the economy in the face of external and reform-induced shocks, the way in which fiscal policy contributed to the reforms, and the manner in which the downsizing of the government was implemented. The authors also analyze the main causes of public debt accumulation and sources of financing. The paper concludes by identifying some lessons to be derived from the Hungarian experience.
JEL Classification: H62, P27, P35Accepted Paper Series
Date posted: June 16, 2003
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