The politics of fiscal consolidation and reform under external constraints in the European periphery: comparative study of Hungary and Latvia

Aleksandrs Cepilovs and Zoltán Török

Public Management Review, 2019, vol. 21, issue 9, 1287-1306

Abstract: This article investigates the diverse experiences of fiscal consolidation under external constraints in Hungary and Latvia. The financial crisis that hit in the early years of the twenty-first century had a profound effect on the economies of many EU member states. The responses, however, were diverse. Some countries, such as Latvia, implemented deep consolidation within a relatively short amount of time, while retaining political stability. Other countries, such as Hungary, went through an extensive period of fiscal consolidation, and experienced a significant shift in domestic politics. This paper looks at the factors explaining the variety of responses to the crisis.

Date: 2019
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DOI: 10.1080/14719037.2019.1618384

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