Abstract (may include machine translation)
Az írás azt a rejtélyt vizsgálja, hogy az EU-tagság a várakozások ellenében miért nem váltott ki erõteljes strukturális reformokat az új tagállamokban. Ehelyett egy nem etatista, de a közös valuta követelményeivel élesen szembemenõ gazdaságpolitika alakult ki. Hipotézisünk szerint ennek végsõ oka a túl jól megtanult – és további ismeretekkel nem bõvített – makroökonómiai alaptankönyv lehet. Mindezek hatására a kormányzatok kezében részben nem maradt eszköz, részben hajlandóság arra, hogy a túlfûtöttséget idejében orvosolják. Az írásban többféle magyarázó tényezõ felsorolása mellett a gazdaságpolitikán túlmutató elméleti következtetések levonására teszünk kísérletet.
The paper explores the mystery of why EU membership has not triggered vigorous structural reforms in the new member states, contrary to expectations. Instead, a non-ethatist economic policy has emerged that is sharply at odds with the requirements of the single currency. We hypothesise that the ultimate reason for this may be a basic macroeconomic textbook that has been too well learned - and not expanded with additional knowledge. As a result, governments have been left partly without the tools and partly without the will to correct the overheating in time. In this paper, we attempt to draw theoretical conclusions beyond economic policy by listing a number of explanatory factors.
The paper explores the mystery of why EU membership has not triggered vigorous structural reforms in the new member states, contrary to expectations. Instead, a non-ethatist economic policy has emerged that is sharply at odds with the requirements of the single currency. We hypothesise that the ultimate reason for this may be a basic macroeconomic textbook that has been too well learned - and not expanded with additional knowledge. As a result, governments have been left partly without the tools and partly without the will to correct the overheating in time. In this paper, we attempt to draw theoretical conclusions beyond economic policy by listing a number of explanatory factors.
Translated title of the contribution | The new kind of macroeconomic populism |
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Original language | Hungarian |
Pages (from-to) | 592-606 |
Number of pages | 15 |
Journal | Pénzügyi Szemle |
Volume | 53 |
Issue number | 4 |
State | Published - 2008 |