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External Liberalization in Asia, Post-Socialist Europe, and Brazil$
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Lance Taylor

Print publication date: 2006

Print ISBN-13: 9780195189322

Published to Oxford Scholarship Online: May 2007

DOI: 10.1093/acprof:oso/9780195189322.001.0001

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 Opening Up the Hungarian Economy: Conditions and Consequences of Liberalizing Trade and Capital Flows in Hungary

 Opening Up the Hungarian Economy: Conditions and Consequences of Liberalizing Trade and Capital Flows in Hungary

Conditions and Consequences of Liberalizing Trade and Capital Flows in Hungary

Chapter:
(p.101) 4 Opening Up the Hungarian Economy: Conditions and Consequences of Liberalizing Trade and Capital Flows in Hungary
Source:
External Liberalization in Asia, Post-Socialist Europe, and Brazil
Author(s):

Gábor Oblath

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195189322.003.0004

This chapter addresses issues related to trade (current account) liberalization in Hungary. An overview of the main issues related to external economic liberalization is presented, focusing on trade liberalization. This is followed by a review of macroeconomic developments in the country over the past decade. Then, after dealing with the conceptual and statistical difficulties involved, decomposition exercises are performed regarding changes in aggregate demand and employment; at the end of this analysis, macroeconomic characteristics of different subperiods are discussed. The next section deals with social changes and shifts in income distribution. Finally, the different lines of analysis are brought together and conclusions drawn regarding the mode of external liberalization in Hungary.

Keywords:   trade, macroeconomics, decomposition, employment, social changes, income distribution

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