How Not to Implement: Hungarian Pension Reforms in an Institutionalist Perspective

Simple item page
dc.contributor.authorGUARDIANCICH, Igor
dc.date.accessioned2008-02-19T14:16:13Z
dc.date.available2008-02-19T14:16:13Z
dc.date.issued2008
dc.description.abstractAfter 1989, Hungary inherited a pension system characterised by an unfair mix of social insurance and social assistance. Widespread public dissatisfaction and the near drift into a financial crisis cleared the path for the first paradigmatic multipillar reform in Central and Eastern Europe (CEE), thereby attracting major international attention. Implementation, however, did not live up to the high expectations. Ten years down the road, the Hungarian pension system stands indeed as a model, but of partial failures and unintended consequences. Applying a historical institutionalist framework, it is shown that Hungarian pensions underwent both agency based and structural institutional degeneration, caused by the system's poor and hasty institutional design. Actors' expectations failed to adapt, as policymakers indulge in extreme political budget cycles and private pension providers do not self-regulate, thereby distorting competition. Furthermore, institutional complementarities are not gainfully exploited, since unfortunate policy solutions rendered the funded pillar costly and inefficient. Consequently, Hungarian pensions require once again a structural overhaul. A coherent solution is, however, nowhere in sight and the weaknesses of PM Ferenc Gyurcsรกny's government do not bode well. Policymakers shall learn from the Hungarian experience that correct policy implementation may be every bit as problematic as a successful legislative phase.en
dc.identifier.urihttps://hdl.handle.net/1814/8130
dc.identifier.urihttp://www.tiger.edu.pl/publikacje/twp110.pdf
dc.language.isoenen
dc.relation.ispartofseriesTIGER Working Paper Seriesen
dc.relation.ispartofseries110en
dc.titleHow Not to Implement: Hungarian Pension Reforms in an Institutionalist Perspectiveen
dc.typeWorking Paperen
dspace.entity.typePublication
eui.subscribe.skiptrue
person.identifier.other30404
relation.isAuthorOfPublication9ec65455-cf25-4c13-89ce-1bb0d963f7a5
relation.isAuthorOfPublication.latestForDiscovery9ec65455-cf25-4c13-89ce-1bb0d963f7a5
Files
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.79 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
SPS Working Papers