The New Hungarian Public Finance System – in a Historical, Institutional and Scientific Context

Lentner, Csaba (2015) The New Hungarian Public Finance System – in a Historical, Institutional and Scientific Context. Public Finance Quarterly = Pénzügyi Szemle, 60 (4). pp. 447-461.

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Hungary began to address the profound reasons for the economic crisis after 2010, which resulted in the creation of a new public finance system. This renewal of the public finance system was justified and supported by three factors: the increased importance of public finances all over the world and the spread of the institutional approach; the Hungarian historical traditions; and the social expectations in regard of restoring trust in the government. In practice, the new system is based on three pillars: fiscal policy, which ensures burden sharing; monetary policy, which ensures optimisation in a broad economic-social context; and efficient public audit-ing that can be utilised at the social level.

Item Type:Article
Uncontrolled Keywords:economic history, public finances, public finances model, central bank’s policy, fiscal policy and regulation, national budget, public debt, public finance crisis management
JEL classification:B10 - History of Economic Thought through 1925: General
B50 - Current Heterodox Approaches: General
E00 - Macroeconomics and Monetary Economics: General
G38 - Corporate Finance and Governance: Government Policy and Regulation
H12 - Crisis Management
H60 - National Budget, Deficit, and Debt: General
ID Code:8827
Deposited By: Alexa Horváth
Deposited On:18 Sep 2023 07:36
Last Modified:18 Sep 2023 07:36

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