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The Political Economy of Crisis Management in East–Central European Countries

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  • Martin Myant
  • Jan Drahokoupil
  • Ivan Lesay

Abstract

The financial and economic crisis in the Central and East European countries raised the profile of economic policy themes that relate to the role of taxation and state spending. The key policy differences related to public budgets and support for a demand stimulus. Responses fall broadly into two categories that we link to a social-democratic and a neo-liberal response. The distinction indicates that the policy responses were linked to the party affiliation of the government on the left–right spectrum. There were some remarkable common trends that cannot be explained by the logical requirements of the economic situation alone. There are differences in timing and in severity, but every country has at some point moved towards a policy of balancing the budget by making cuts. In all cases there were cuts in benefits for marginal groups in society and a switch towards indirect rather than direct taxes. These carry clear distributional implications.

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  • Martin Myant & Jan Drahokoupil & Ivan Lesay, 2013. "The Political Economy of Crisis Management in East–Central European Countries," Europe-Asia Studies, Taylor & Francis Journals, vol. 65(3), pages 383-410.
    • Handle: RePEc:taf:ceasxx:v:65:y:2013:i:3:p:383-410
    DOI: 10.1080/09668136.2013.779460
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    Cited by:

    1. Stuart Shields, 2020. "The EBRD, fail forward neoliberalism and the construction of the European periphery," The Economic and Labour Relations Review, , vol. 31(2), pages 230-248, June.
    2. Szunomár, Ágnes & Lima da Frota Araujo, Carlos Raul, 2022. "Kelet-Közép-Európa a digitális selyemúton? Lehetséges politikai gazdaságtani magyarázatok [Central and Eastern Europe on the Digital Silk Road? Possible political economic explanations]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 367-388.
    3. Samardzija, Visnja & Jurlin, Krešimir & Ivana, Skazlić, 2018. "Značaj Europskog semestra za reforme ekonomskih politika u Hrvatskoj i odabranim novim članicama EU-a. U: Višnja Samardžija (ur.). Izazovi provedbe europskih politika u Hrvatskoj. IRMO: Zagreb [The," MPRA Paper 89337, University Library of Munich, Germany.

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