Hungary in transforming Central and Eastern Europe, 1989–2008: A few debated questions

Abstract

The paper addresses some debated questions and popular misconceptions concerning Hungary’s transformation process. These debated questions include the historical role of the Hungarian market reforms and how they helped the country in rapid transition later on; the first years of transition and the dilemma of gradual vs. shock therapy type reforms; the role of multinational companies in the Hungarian economy; the economic crisis in Hungary of the past years (2006–2008); and finally, how Hungary should proceed with reforms in the future.