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The leader of the pack. (Hungary's transformation into a market economy)
- Article from:
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The Banker
- Article date:
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July 1, 1997
- Author:
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Copyright informationCOPYRIGHT 1997 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hungary has a good chance of becoming the first country in the formerly communist east and central Europe to develop a fully-fledged market economy. It has already created a market-based legal and institutional environment, and has nearly completed a program to liberalize trade, prices, interest rates and foreign exchange transactions. The government has also accelerated the pace of the privatization process, which is now approaching its final phase.
Hungary was first out of the blocks in the race towards a fully market economy. And despite some difficult moments, Hungary is still out in front as privatisation picks up pace.
It would be logical if Hungary, the first country in ...
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