Fiscal Adjustment in the Transition Process: Hungary, 1990-1999

Posted: 16 Jun 2003

See all articles by Gabor P. Kiss

Gabor P. Kiss

Magyar Nemzeti Bank - Economics & Research Department

Gyorgy Szapary

Magyar Nemzeti Bank

Abstract

Two economists of the National Bank of Hungary review fiscal developments during a decade of transition in Hungary. The paper examines the role of fiscal policy in stabilizing the economy in the face of external and reform-induced shocks, the way in which fiscal policy contributed to the reforms, and the manner in which the downsizing of the government was implemented. The authors also analyze the main causes of public debt accumulation and sources of financing. The paper concludes by identifying some lessons to be derived from the Hungarian experience.

JEL Classification: H62, P27, P35

Suggested Citation

Kiss, Gabor P. and Szapary, Gyorgy, Fiscal Adjustment in the Transition Process: Hungary, 1990-1999. Available at SSRN: https://ssrn.com/abstract=249221

Gabor P. Kiss (Contact Author)

Magyar Nemzeti Bank - Economics & Research Department ( email )

H-1850 Budapest
Hungary

Gyorgy Szapary

Magyar Nemzeti Bank ( email )

Szabadsag ter 8-9
Budapest, H-1850
Hungary

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