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Independence of central banks after the crisis - focus on Hungary

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  • Lisa Coiffard

    (Paris Institute of Political Studies, Sciences Po Paris)

Abstract

The changes of the Hungarian financial regulation reflect the power of the Fidesz-government to challenge the European institutions. With the new structure of the Hungarian Central Bank (MNB) and unorthodox macroeconomic policy, Hungary uses the global trends in the financial sector to deviate from the European treaties. The complex European structure is not able to face the new challenges with its tools and is more than ever obliged to counter such behaviors to preserve the credibility and the values of the European project.

Suggested Citation

  • Lisa Coiffard, 2018. "Independence of central banks after the crisis - focus on Hungary," IWE Working Papers 242, Institute for World Economics - Centre for Economic and Regional Studies.
    • Handle: RePEc:iwe:workpr:242
    as

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    File URL: https://vgi.krtk.hu/publikacio/nr-242-2018-06/
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    References listed on IDEAS

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    More about this item

    Keywords

    financial regulation; MNB; ECB; central banks;
    All these keywords.

    JEL classification:

    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G2 - Financial Economics - - Financial Institutions and Services
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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