IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-23800-2_6.html
   My bibliography  Save this book chapter

Development of the Financial Sector in Hungary During the Transition Period

In: Financial Reform in Central and Eastern Europe

Author

Listed:
  • Rezsö Nyers
  • Gabriella Rosta Lutz

Abstract

The most important economic reform measures of the 1980s were introduced in the financial sector. Of the main reform measures, the following deserve to be mentioned: the re-establishment of trading in securities from 1982 on, followed by the development of the organisational structure and institutional framework of the capital market (1980–90), the enactment of the Law on the Issue of and Trade in Securities, the relaunching of the Stock Exchange (1990); the establishment of a two-tier banking system in 1987; the creation of independent commercial banks; the activation and growing autonomy of monetary policy and, in close connection with this, the enactment of the fundamental financial laws. Among these, the Law on the National Bank of Hungary of 1991 deserves mention. It declares the relative autonomy of the Central Bank and its monetary policy, and was followed by the enactment of the Banking Law of 1991, the Accounting Law (1991) and the Bankruptcy Law (1991), all in conformity with international practices.

Suggested Citation

  • Rezsö Nyers & Gabriella Rosta Lutz, 1995. "Development of the Financial Sector in Hungary During the Transition Period," Palgrave Macmillan Books, in: Stephany Griffith-Jones & Zdeněk Drábek (ed.), Financial Reform in Central and Eastern Europe, chapter 6, pages 127-150, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-23800-2_6
    DOI: 10.1007/978-1-349-23800-2_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Meyendorff, Anna & Snyder, Edward A., 1997. "Transactional Structures of Bank Privatizations in Central Europe and Russia," Journal of Comparative Economics, Elsevier, vol. 25(1), pages 5-30, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-23800-2_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.