The New Hungarian Public Finance System – in a Historical, Institutional and Scientific Context

Csaba Lentner

Public Finance Quarterly, 2015, vol. 60, issue 4, 447-461

Abstract: Hungary began to address the profound reasons for the economic crisis after 2010, which resulted in the creation of a new public finance system. This renewal of the public finance system was justified and supported by three factors: the increased importance of public finances all over the world and the spread of the institutional approach; the Hungarian historical traditions; and the social expectations in regard of restoring trust in the government. In practice, the new system is based on three pillars: fiscal policy, which ensures burden sharing; monetary policy, which ensures optimisation in a broad economic-social context; and efficient public audit-ing that can be utilised at the social level.

Keywords: economic history; public finances; public finances model; central bank’s policy; fiscal policy and regulation; national budget; public debt; public finance crisis management (search for similar items in EconPapers)
JEL-codes: B10 B50 E00 G38 H12 H60 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pfq:journl:v:60:y:2015:i:4:p:447-461

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