Lajos Bokros - Public Finance Reform During the Transition: The Experience of Hungary
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Public Finance Reform During the Transition: The Experience of Hungary
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Public Finance Reform During the Transition : The Experience of Hungary
author
:
Bokros, Lajos.
publisher
:
World Bank
isbn10 | asin
:
0821342525
print isbn13
:
9780821342527
ebook isbn13
:
9780585221359
language
:
English
subject
Finance, Public--Hungary.
publication date
:
1998
lcc
:
HJ1068.P83 1998eb
ddc
:
336.439
subject
:
Finance, Public--Hungary.
Page iii
Public Finance Reform during the Transition
The Experience of Hungary
Edited by Lajos Bokros Jean-Jacques Dethier
The World Bank Washington, D.C.
Page iv
1998 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, N.W. Washington, D.C. 20433
All rights reserved
Manufactured in the United States of America
First printing September 1998
The findings, interpretations, and conclusions expressed in this study are entirely those of the authors and should not be attributed in any manner to the World Bank, to its affiliated organizations, or to its members of its Board of Executive Directors or the countries they represent.
Lajos Bokros is director of the Private and Financial Sectors Development Unit of the Europe and Central Asia Region of the World Bank. Jean-Jacques Dethier is a senior economist in the Poverty Reduction and Economic Management Unit of the Europe and Central Asia Region of the World Bank.
Cover art: Jay Townsend, Science Applications International Corporation (SAIC)
Library of Congress Cataloging-in-Publication Data Public finance reform during the transition : the experience of Hungary / edited by Lajos Bokros, Jean-Jacques Dethier. p. cm. Includes bibliographical references and index. ISBN 0-8213-4252-5 1. Finance, Public--Hungary. I. Bokros, Lajos. II. Dethier, Jean-Jacques, 1952 HJ1068.P83 1998 336.439--dc21 98-42499 CIP
Page v
TABLE OF CONTENTS
Acknowledgments
xi
Contributors
xiii
Overview
Jean-Jacques Dethier
1
Introduction
23
1. The General Trends and the Philosophy of Public Finance Reform
Jnos Kornai
25
Citizen Sovereignty and the State
25
The Role of the State
29
The Rules of Democracy and the Transparency of Fiscal Policy
34
Sustainability
36
Initial Conditions and Gradualism
38
Choices of Values
40
Notes
42
References
43
Part I. The Macroeconomic Context
45
2. The Setting: Macroeconomic Policy in Hungary in the 1990s
Jean-Jacques Dethier and Witold Orlowski
47
Notes
57
References
58
3. Fiscal Deficit and Public Debt during the Transition
Gyula Barabs, Istvn Hamecz, and Judit Nemnyi
59
Constraints on Macroeconomic Policy during the 1990s
60
Measuring the Consolidated Deficit and Consolidated Debt
66
The Sources of Financing of the Consolidated General Government Deficit
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