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Fiscal Adjustment in the Transition Process: Hungary, 1990-1999Gabor P. KissNational Bank of Hungary - Economics & Research Department Gyorgy SzaparyNational Bank of Hungary Post-Soviet Geography and Economics, Vol. 41, No. 4, June 2000 Abstract: 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, P35 Accepted Paper SeriesDate posted: June 16, 2003Suggested Citation |
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