From command to market economy in Hungary under the guidance of the IMF
By: Pongrác Nagy.
Publisher: Akadémiai Kiadó
Published: 2003
Place of publication: Budapest
Language: eng
Number of pages: 335
Subjects: International Monetary Fund -- Hungary.; World Bank -- Hungary.; Post-communism -- Economic aspects -- Hungary.; Hungary -- Economic policy -- 1989-; Hungary -- Economic conditions -- 1989-
Description: "When Hungary decided to change its system from a command to a market economy, it was persuaded by friendly governments and international organizations, including the International Monetary Fund, that this could be best done under the guidance of the IMF, assisted by the World Bank. Inexperienced and trusting governments believed this and did as they were told." "As a consequence, monetarism and neo-liberalism, by virtue of the Washington Consensus, were brought to Hungary and became the ruling ideologies of this transition economy that was totally unsuited to them." "It is a sad story of errors, incompetence, arrogance, trust, servility, abuse and human suffering. It is told in simple language for those familiar with the basics of economics. It is hoped that those studying this unique and unprecedented phenomenon in economic history, the transformation of a command economy into a market economy, will benefit from it. And so, maybe, will the leaders and economists of those countries where the transformation is still underway."--BOOK JACKET.
Notes: Includes bibliographical references and index.