Consolidating Economic Reforms: the Hungarian Experience with Lessons for Poland

Introduction

"Transition to what?" - this major puzzle of the transformation studies appears to be solved in Hungary. In 1998 the Hungarian social system is democratic capitalism. Viewed in the  perspective of the country's own past, this outcome is a success. Between 1989-98 the longest and most democratic period of Hungary's post-World War I history coupled with the most radical episode of economic liberalization it ever experienced.