Global challenges and international economic adjustment. Institutionalization of economic-policy discipline in Sweden

• Authors: Gyorffy D.
• Languages of publication: HU

Abstracts

EN

The global liberalization of capital markets that began in the 1980s significantly narrowed the scope of economic policy in small, open countries with their own currency. Despite a high level of state redistribution, the case of Sweden exemplifies successful adaptation to the new challenges through institutionalization of economic-policy discipline. Taking the constraints of integrated capital markets into account, the regulation based approach to monetary and fiscal policy resembles the earlier Swedish model in serving four basic economic-policy goals: growth, high employment, social equality, and price stability. Apart from this community of goals, the two periods are linked by economic-policy consensus and social trust - a basic requirement for success under either system.

Keywords

EN

ECONOMIC POLICY; LIBERALIZATION OF CAPITAL MARKETS; STATE REDISTRIBUTION (SWEDEN)

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2006
• Volume: 53
• Issue: 6
• Pages: 540-559
• Document type: ARTICLE

Contributors

author

Gyorffy D.

• D. Gyorffy, no address given, contact the journal editor

Identifiers

CEJSH db identifier

07HUAAAA02986090