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The Hungarian Economic Reform, 1968–81

In: Change and Challenge in the World Economy

Author

Listed:
  • Bela Balassa

    (The Johns Hopkins University
    The World Bank)

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.

Suggested Citation

  • Bela Balassa, 1985. "The Hungarian Economic Reform, 1968–81," Palgrave Macmillan Books, in: Change and Challenge in the World Economy, chapter 0, pages 261-281, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-17991-6_12
    DOI: 10.1007/978-1-349-17991-6_12
    as

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