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The New Hungarian Public Finance System – in a Historical, Institutional and Scientific Context

Author

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  • Lentner, Csaba

Abstract

Hungary began to address the profound reasons for the economic crisis after 2010, which resulted in the creation of a new public finance system. This renewal of the public finance system was justified and supported by three factors: the increased importance of public finances all over the world and the spread of the institutional approach; the Hungarian historical traditions; and the social expectations in regard of restoring trust in the government. In practice, the new system is based on three pillars: fiscal policy, which ensures burden sharing; monetary policy, which ensures optimisation in a broad economic-social context; and efficient public audit-ing that can be utilised at the social level.

Suggested Citation

  • Lentner, Csaba, 2015. "The New Hungarian Public Finance System – in a Historical, Institutional and Scientific Context," Public Finance Quarterly, Corvinus University of Budapest, vol. 60(4), pages 447-461.
    • Handle: RePEc:pfq:journl:v:60:y:2015:i:4:p:447-461
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    File URL: https://unipub.lib.uni-corvinus.hu/8827/
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    Cited by:

    1. Anita Boros & Csaba Fogarassy, 2019. "Relationship between Corporate Sustainability and Compliance with State-Owned Enterprises in Central-Europe: A Case Study from Hungary," Sustainability, MDPI, vol. 11(20), pages 1-23, October.

    More about this item

    Keywords

    economic history; public finances; public finances model; central bank’s policy; fiscal policy and regulation; national budget; public debt; public finance crisis management;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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