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Coming in from the cold: the Hungarian economy in the 20th century

Author

Listed:
  • Eva Ehrlich

    (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)

  • Gabor Revesz

    (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)

Abstract

Hungary had to pay an enormous price for returning to the European mainstream. The output of the economy (calculated in the size of the GDP) reached the level preceding the change of the system only in 1999, although with a significantly more modern make-up. During the last two decades of the 20th century, Hungary – much like the other East and Central European countries – must have missed a potential growth of some 40 or 50 per cent which, from a historical perspective, may be regarded as a loss due to the long period of disintegration. At the beginning and at the end of the century trends of modernization and integration were both present in Hungary. For the greater part of the 20th century, however, developments determined by political forces acted towards diverting the economy from the main trends in the Western world, and the country was breaking away rather than integrating.

Suggested Citation

  • Eva Ehrlich & Gabor Revesz, 2000. "Coming in from the cold: the Hungarian economy in the 20th century," IWE Working Papers 109, Institute for World Economics - Centre for Economic and Regional Studies.
    • Handle: RePEc:iwe:workpr:109
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    File URL: https://vgi.krtk.hu/publikacio/no-109-2000-05/
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    Citations

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    Cited by:

    1. Z. Edward O'Relley, 2001. "From Totalitarian Central Planning to a Market Economy : Decentralization and Privatization in Hungary," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 17(Fall 2001), pages 135-148.
    2. Rossitsa Rangelova, 2001. "Economic XX Century of Bulgaria," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 112-123.

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