IDEAS home Printed from https://ideas.repec.org/h/pal/stuchp/978-0-230-50247-5_6.html
   My bibliography  Save this book chapter

Exchange Rate Policy, Fiscal Austerity and Integration Prospects: The Hungarian Case

In: EU Enlargement and its Macroeconomic Effects in Eastern Europe

Author

Listed:
  • Jens HöLscher
  • Johannes Stephan

Abstract

Hungary prides itself on being one of the ‘hottest’ candidates for EU membership in the next round of EU enlargement. It bases this on the fact that, amongst all post-socialist economies, the Visegrád-four have proceeded comparatively further in systemic transformation and economic development than other post-socialist economies. Moreover, in 1992/93, Hungary, together with Poland and the then CSFR, had signed ‘Europa Agreements’, which can be interpreted as a preliminary step to accession agreements. In fact, Hungary is the country which started as the earliest with systemic reforms in some form of a ‘third way’. This can be highlighted not least by the introduction of a two-tier banking system already in 1987, which envisaged, but failed to achieve at this early stage, the hardening of Hungary’s ‘soft budget constraint’ (Kornai, 1986).

Suggested Citation

  • Jens HöLscher & Johannes Stephan, 1999. "Exchange Rate Policy, Fiscal Austerity and Integration Prospects: The Hungarian Case," Studies in Economic Transition, in: Hubert Gabrisch & Rüdiger Pohl (ed.), EU Enlargement and its Macroeconomic Effects in Eastern Europe, chapter 6, pages 151-173, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-0-230-50247-5_6
    DOI: 10.1057/9780230502475_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.

    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:stuchp:978-0-230-50247-5_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.