Energy industries are mainly organised at national level in Hungary, however local governments have their specific role in the system. Local governments have been major performers in the first period of the transition process: they were entitled to receive 25 per cent of the shares in electric...

The absence or the presence of the resource curse is often explained by the specifics of political and institutional factors. The aim of this paper is to study this effect looking separately at economic and political institutions and at their interaction. Unlike most empirical papers in the...