15 Sep 2016
NEW PUBLICATION: "Economic policy and macroeconomic developments in Hungary, 2010-2015"
New publication within mBank-CASE Seminar Proceedings series: "Economic policy and macroeconomic developments in Hungary, 2010–2015" is available online now.
According to the message of the Hungarian government, the relatively high GDP-growth in Hungary in the last two years (3.7% in 2014 and 2.9% in 2015) is the result of state economic policy, and proves that – as advertised on posters and in media advertisements – “Hungarian reforms work.
Gábor Oblath argues that that the factors essentially responsible for Hungary’s growth performance over the last five or six years were mainly exogenous to Hungarian government policy.
The acceleration of economic growth observed in 2014 was mainly due to exceptionally large transfers from EU funds and have nothing to do with the government’s so called “unorthodox” economic policy. By contrast, the decline in the quality of the institutional environment of the economy is a direct consequence of both the spirit and the methods of th economic policy pursued.
Read the 143rd mBank - CASE Seminar Proceedings here.
