The politics of fiscal consolidation and reform under external constraints in the European periphery: comparative study of Hungary and Latvia |
| |
Authors: | Aleksandrs Cepilovs Zoltán Török |
| |
Affiliation: | 1. Ragnar Nurkse Department of Innovation and Governance, Tallinn University of Technology, Tallinn, Estoniaaleksandrs.cepilovs@ttu.ee;3. Department of Public Policy and Management, Corvinus University of Budapest, Budapest, Hungary |
| |
Abstract: | ABSTRACTThis article investigates the diverse experiences of fiscal consolidation under external constraints in Hungary and Latvia. The financial crisis that hit in the early years of the twenty-first century had a profound effect on the economies of many EU member states. The responses, however, were diverse. Some countries, such as Latvia, implemented deep consolidation within a relatively short amount of time, while retaining political stability. Other countries, such as Hungary, went through an extensive period of fiscal consolidation, and experienced a significant shift in domestic politics. This paper looks at the factors explaining the variety of responses to the crisis. |
| |
Keywords: | Crisis fiscal consolidation administrative reform comparative analysis external constraints |
|
|