Varieties of Debt Management in Central and Eastern European Countries: An Institutional Investigation of International Financial Transactions

The paper focuses on the foreign debt management of the Hungarian and Slovenian policy makers in the global financial markets. The proposed argument combines a theoretical refinement of international financial markets as locally embedded social relations with a domestically oriented institutional analysis of foreign debt management. I argue that in order to understand the differences between the two states’ debt management strategies, it is important to look at the institutional differences within which the strategies were proposed, rejected or accepted. At this level of analysis the paper also considers the links between globalization of finance and the changing role of the state.