Macroeconomic Policy, Liberalization and Transition: Hungary's Case

Introduction

While during 1990-1992, Hungary was generally considered to have been in the best macroeconomic position among East-European transition economies and was regarded to have had the best and closest prospects for becoming a market economy, in 1993 increasing disillusion and scepticism can be observed on the part of foreign analysts concerning this country`s political, economic performance and outlook.