Stabilization and modernization in Central Eastern Europe: The Hungarian experience
Stabilization and modernization in Central Eastern Europe: The Hungarian experience

Summary/Abstract: The author analyses the processes of stabilization and modernization in the CEE countries and Hungary at the end of the 1980s, in the period after the fall of communism, the resulting deep economic crisis, and recession. There was a fall in GDP and industrial output, and a decline in private and public consumption. 1994 was marked by economic revival both in the CEE countries and in Hungary. The author sees foreign investment as the source of the re-surge in the Hungarian economy and in this sense calls attention to the dual character of the Hungarian economy.

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