Economic Policy Making. An Introduction to Comparative Analysis

Abstract

We are all policy takers inasmuch we all have to pay tax, must adjust to changes in interest rate and exchange rate, obliged to comply with new labour code, environmental standards. Why do policy makers bombard all of us - individuals, business executives, consumers - with new measures, rules, incentives and prohibition? Professor P. Á. Bod is in unique position to introduce us to the somewhat mysterious world of policy making. As a former economics minister, an ex-governor of central bank, who served on the board of an international financial institution and on various supervisory boards of major corporations, he has interesting stories to tell. Policy making is surprisingly national in style and content, no matter what is preached about globalisation; yet efficient national policy makers have always internalised whatever happened in the world - because of globalisation. Here the central theme is policy practice in open, trade dependent transition countries - but most countries, if not all, happen to be in transition of some sorts. There are important lessons to learn.