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Hungary: The Janus-faced Success Story

This paper offers a broad overview of the Hungarian development strategy over the past two decades. Combining historical and functional analysis, some major strengths and weaknesses are identified, with special emphasis on the country’s open-door policies and the role played by the European Union. The paper investigates why the impetus of institutional and financial integration was lost by about 2004 when policy drifting took over the role of strategies. Some ideas on how to remedy the situation are being offered. Paradoxically, the Hungarian success and failure both testify to the relevance of a neo-institutionalist/political economy approach to sustainable development. It also examines the limitations of external anchoring by the EU as well as of the spontaneous bottom-up evolution of institutions when policy drifting continues.
Publisher:
UNU-WIDER
Series:
WIDER Research Paper
Volume:
2009/13
Title:
Hungary: The Janus-faced Success Story
Authors:
László Csaba
Publication date:
March 2009
ISSN Web:
1810-2611
ISBN 13 Web:
9789292301828
Copyright holder:
© UNU-WIDER
Copyright year:
2009
Keywords:
structural reform, sustainability, EU accession, regulation, FDI, trust
JEL:
P21, P26, F15, F59
Project:
Country Role Models for Development Success
Sponsor:
UNU-WIDER gratefully acknowledges the financial contribution to the project by the Finnish Ministry for Foreign Affairs, and the financial contributions to the research programme by the governments of Denmark (Royal Ministry of Foreign Affairs), Finland (Ministry for Foreign Affairs), Norway (Royal Ministry of Foreign Affairs), Sweden (Swedish International Development Cooperation Agency—Sida) and the United Kingdom (Department for International Development).
Format:
online
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