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Adjustment without recession: a case study of Hungarian stabilization

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Lessons from the Economic Transition

Abstract

On 12 March 1995, Hungary’s government and central bank announced a tough programme of adjustment and stabilization. (I will refer to this by the abbreviation ASP 95.1) The process of implementing this programme had been taking place for 15 months at the time of this study, which is an attempt to assess and take stock of its results so far.

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  1. János Kornai
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Kornai, J. (1997). Adjustment without recession: a case study of Hungarian stabilization. In: Zecchini, S. (eds) Lessons from the Economic Transition. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-5368-3_6

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