The Hungarian Economic Reform, 1968–81

Bela Balassa
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Bela Balassa: The Johns Hopkins University

Chapter Essay 12 in Change and Challenge in the World Economy, 1985, pp 261-281 from Palgrave Macmillan

Abstract: Abstract This essay provides an evaluation of the Hungarian economic reform, introduced on 1 January 1968. The reform represented an important change in a centrally-planned socialist economy. Plan directives were abolished and decision-making was decentralized, with reliance placed on prices linked to world market price relations in the allocation process.

Keywords: Socialist Country; World Market Price; Export Subsidy; Import Quota; Budget Support (search for similar items in EconPapers)
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17991-6_12

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DOI: 10.1007/978-1-349-17991-6_12

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