The new kind of macroeconomic populism

László Csaba

Public Finance Quarterly, 2008, vol. 53, issue 4, 601-616

Abstract: This paper is intended to examine why newly gained EU membership failed to trigger powerful structural reforms in new member states. What evolved in these countries instead was a nonetatist economic policy that sharply contradicted with the requirements of a single currency though. We suppose the ultimate reason could be that economic policy in these countries was limited to the way-too-perfect application of basic macroeconomic textbook strategies. As a consequence, national governments lost all tools and willingness to resolve economic overheating in time. Besides listing a number of explanatory factors, we also make an attempt to draw theoretical conclusions that stretch beyond the scope of economic policy.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:pfq:journl:v:53:y:2008:i:4:p:601-616

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