Economic policy and macroeconomic developments in Hungary, 2010-2015
The publication "Economic policy and macroeconomic developments in Hungary, 2010–2015" discusses the factors responsible for Hungary’s growth performance.
In the 143rd mBank - CASE Seminar Proceedings 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 due to, in particular, exceptionally large transfers from EU funds, which 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.