Description
Book SynopsisThe essays in this volume document the serious shortcomings of the Hungarian economic reform, which in two decades has brought deteriorating economic performance, declining real wages, a fiscal deficit and severe inflationary pressures. It has proved unexpectedly difficult to substitute a regulated market economy for a centrally planned one. The authors of these essays argue that the problems stem from the incompleteness of the reforms and their compromise character. Today, as the Hungarians prepare to implement more radical measures, constraining the Communist party and rolling back state ownership, they do so under economically difficult conditions.
Table of ContentsIllustrations, Editors and Contributors, Economic Reform in Hungary, An Overview and Assessment, PART I. MONEY, BANKING, AND REGULATION IN THE HUNGARIAN REFORM, Economic Control and the Structural Interdependence of Organizations in Hungary at the End of the Second Reform Decade, Next Steps in the Hungarian Economic Reform, Hungarian Financial and Labor Market Reforms, Can Hungary’s Monetary Policy Succeed, The Reorganization of the Banking System in Hungary, PART II. THE EFFICIENCY ALLOCATION OF RESOURCES-WHAT HAS REFORM, ACHIEVED?, Estimates of the Output Loss from Allocative Inefficiency A Comparison of Hungary and West Germany, Changes in the Structure of Industrial Production and Foreign Trade in the Period of Restrictions, 1978-1986, Market Strategy of the Hungarian Enterprise Sources of Inadequate Response to Environmental Challenges, The Defense of Worktime in Hungary Worktime and the Economic Reform
