Record Details

Destined to be defaulted: Local government insolvency and bailout in post-transition Hungary

Journal of Economic & Financial Studies

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Field Value
 
Title Destined to be defaulted: Local government insolvency and bailout in post-transition Hungary
 
Creator Barati-Stec, Izabella
 
Subject —
Local public finance; Local insolvency; Municipal bail-out; Sub-national debt.
I31; I30; I39.
 
Description This paper reviews the waves of democratization and the development of the public administration and public finances in Hungary, with special attention municipalities caused by the changes in sub-national finance regulation since 2010. During the transition yeas, Hungary was very forward looking and the first among CEE countries to end central planning and to introduce market rules into the economy. Everybody expected the decentralization to be a success story. 25 years later, Hungary not only failed to meet the expectations, but also undergone though a situation in 2008 to start a massive recentralization process. This paper puts fiscal decentralization in Hungary in a historical context while critically investigating the findings of recent literatures on decentralization process in Hungary. The critical investigation of past experiences and reform steps of the current government suggest possible reform measures to solve the financial problems of Hungarian municipalities. 
 
Publisher LAR Center Press
 
Contributor —
 
Date 2014-12-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://journalofeconomics.org/index.php/site/article/view/147
10.18533/jefs.v2i04.147
 
Source Journal of Economic & Financial Studies; Vol 2, No 06 (2014): December; 01-15
2379-9471
2379-9463
 
Language eng
 
Relation http://journalofeconomics.org/index.php/site/article/view/147/248
 
Rights Copyright (c) 2015 Izabella Barati-Stec
http://creativecommons.org/licenses/by-nc/4.0