PL EN


2005 | 52 | 10 | 755-773
Article title

The role of institutional factors in the development of budget deficit in Hungary.

Authors
Title variants
Languages of publication
HU
Abstracts
EN
The magnitude of the budget deficit in Hungary has recently become one of the most urgent problems of economic policy, endangering both the target date of entry into the Euro zone and sustainable growth. The recent apparent difficulties of consolidation raise the question of how the chronic high deficit can be explained. The study answers by examining the political-economy literature on deficit, which has tended recently to emphasize the importance of institutional regulation, rather than economic factors. The main conclusion offered by a survey of Hungary's system of regulation is that the weaknesses of the budget process allow short-term interests to dominate in decision-making, so that in times of slowing growth and political tensions, the tendency to deficit is much increased. Reform of the public-finance regulations is therefore essential to creating a balanced budget in the long term.
Year
Volume
52
Issue
10
Pages
755-773
Physical description
Document type
ARTICLE
Contributors
author
  • D. Gyorffy, no address given, contact the journal editor
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
07HUAAAA02955998
YADDA identifier
bwmeta1.element.98653148-2fca-35ec-a8af-c49e91c1b40a
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