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Chapter 5: The Hungarian Crisis

LarsCalmfors, GiancarloCorsetti, JohnHassler, GillesSaint-Paul, Hans-WernerSinn, Jan-EgbertSturm, ÁkosValentinyi and XavierVives
Authors registered in the RePEc Author Service: Gilles Saint-Paul (), Giancarlo Corsetti (), Akos Valentinyi (), Xavier Vives (), Hans-Werner Sinn (), Jan-Egbert Sturm () and John Hassler ()

EEAG Report on the European Economy, 2012, 115-130

Abstract: 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.

Date: 2012
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