Chapter 5: The Hungarian Crisis
CESifo Group Munich, Munich, 2012
in: EEAG Report on the European Economy 2012, 115-130
This chapter summarises recent developments in Hungary and aims to shed some light on why Hungary failed to live up to the expectations of the early 1990s. Section 5.2 analyses Hungary’s growth performance since 1990, and is followed by an analysis of its labour markets in Section 5.3. Section 5.4 assesses its fiscal policy and Section 5.5 explains why Hungary was one of the first countries in Europe to be bailed-out, and how the Hungarian economy responded to crises. Lastly, Section 5.6 assesses the economic policy measures implemented by Hungary since mid-2010, and their implications for future growth and employment. The chapter closes with some general conclusions.
Included in
EEAG Report on the European Economy 2012
CESifo Group Munich, Munich, 2012