Péter Ákos Bod

Péter Ákos Bod

PÉTER ÁKOS BOD (Szigetvár, 1951) economist, university professor. He worked in economic research at the Institute of Planning, Budapest, taught economics in Budapest and in the US before 1989. He was Minister of Industry and Trade between 1990 and 1991, and Governor of the Hungarian National Bank between 1991 and 1994. In 1995–1998, he was member of the Board at the European Bank for Reconstruction and Development (London), representing East Central European countries. At present, he is director of the Institute of Economics at Corvinus University of Budapest. He is vice chairman of the Hungarian Economic Society, sits on editorial boards of Hungarian journals (incl. this Review). His major publications include A vállalkozó állam (Entrepreneurial State) 1987; A pénz világa (The World of Money) 2001; Gazdaságpolitika (Economic Policy) 2002; Közgazdaságtan (Economics) 2006.

THE UNLOVED HUNGARIAN CAPITALISM

More than just the proverbial Hungarian blues Clichés and perceptions do not change fast; it was not long ago that Hungary ceased to be seen as a most successful ‘Transition’ country. In fact, Hungary was the first EU member state to turn to the IMF for financial support in 2008.

THE EUROPEAN DEBT CRISIS – A VIEW FROM HUNGARY

It is proper to claim that 2011 is the “year of Europe” in Hungarian economic policy making, and only partly because of the Hungarian presidency of the European Union (EU) in the first half of 2011. Subsequent government initiatives, such as the fiscal consolidation plan named after Kálmán Széll (a

NATIONAL BANK POLICIES AND THE HUNGARIAN ECONOMY

Politics of bank rates  The Magyar Nemzeti Bank (MNB), the Hungarian National Bank, raised the policy rate in January 2011, the third time since the change in government that took place in May 2010. The rate increase drew a rebuke from the growth-focused government, which called it “unjustified” in a

THE HUNGARIAN PRESIDENCY IN TURBULENT TIMES

The balance of the EU presidency for small nations Six months of the presidency of the European Union is obviously too short a term for any government to solve complex problems. Smaller member states do better not to entertain ambitions for striking deals or setting directions; country size matters. But

THE CASE OF THE NEW GOVERNMENT WITH INTERNATIONAL FINANCE

Mark Weisbrot, a fervent critique of the IMF, the gendarme of the financial world, stood behind Prime Minister Viktor Orbán in this conflict with the Fund and the European Union (EU), lenders to the Hungarian government (“To Viktor go the spoils: how Hungary blazes a trail in Europe” (Guardian, 9

JÓZSEF ANTALL AND THOSE WHO DID NOT WANT HIM

These last, however – and let us not fool ourselves – are not great in number; the political and social lives of so many people were unaffected. The greater portion of society deals only occasionally and rather superficially with affairs over and above those affecting their daily lives. This is