Based on insights from Joseph Berliner's work on innovation in the Soviet centrally planned economy and its reform variants, we analyze process innovation (technological development) and product development in restructuring Hungarian companies from 1992 to 1995. Using data from a survey...

Over the last decade, Hungary has experienced more foreign bank entry than any country in world, starting with foreign greenfield operations and then followed by the privatization of four of its largest banks to strategic foreign owners. Currently about two thirds of all banking assets in...

This paper considers whether the adoption of inflation targets for Hungary, an emerging market economy, is a desirable option. We consider the qualitative and quantitative pre-conditions required for the successful adoption of inflation control objectives. Although it is found that the National...

This paper reviews and assesses the privatization of the banking sector in Hungary. Most of the important developments took place in the period between 1995-98. Nevertheless, the choices made by Hungarian policy makers reflect both internal constraints stemming from the weakneses of the...