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001			pwiiw7558
003			OSt
005			20260518120039.0
008			260408t2026 au ||||| |||| 00| ||eng d
040			_cOSt
041			_aeng
084			_aE60 _aO47 _aO52 _aP26 _aP27 _aF21 _2jelc
100	1		_aHolzner, Mario
245	1	0	_aThe illiberal economy: The long-term development of the Hungarian economy under Viktor Orbán
260			_aWien : _bWiener Institut für Internationale Wirtschaftsvergleiche (wiiw), _c2026.
300			_a17 S., _b10 Figures, _c30cm.
490	1		_awiiw Policy Notes and Reports _v107
520			_aThis assessment provides a long-term analysis of Hungary’s economic trajectory under the administration of Viktor Orbán since 2010. Taking the start of the European financial crisis in 2009 as a baseline, it evaluates the impact of ‘Orbánomics’ – a policy mix defined by deterioration in institutional quality, state intervention and sectoral taxation for the creation of a nationalist, capitalist class, and an ‘Eastern Opening’ strategy to diversify away from the European Union. Through a comparative lens that focuses on the region of Central, East and Southeast Europe (CESEE), the study finds that Hungary has transitioned away from being a regional front-runner to languishing in the midfield. Key findings highlight a widening 7 percentage point GDP growth gap relative to the CESEE average, a significant slowdown in convergence toward the ‘Austrian Benchmark’, compared to peers like Croatia and Romania, and a regressive shift in sectoral specialisation from high-innovation ICT toward low-complexity real estate. Furthermore, the analysis underscores the severe ‘institutional tax’ resulting from deteriorating governance scores and the subsequent withholding of EU transfers, such as the funds from the Recovery and Resilience Facility (RRF). The study concludes that without urgent political and economic reform and institutional reconciliation, Hungary risks permanent entrenchment in a nationalist development trap.
650			_aHungary
650			_aEconomic Convergence
650			_aForeign Direct Investment
650			_aInstitutional Governance
650			_aRule of Law
650			_aSectoral Specialisation
650			_aEU Recovery and Resilience Facility
651			_aEuropean Union
651			_aHungary
690			_aMacroeconomic Analysis and Policy
690			_aInternational Trade, Competitiveness and FDI
830		0	_v107 _wWIIW0000092 _twiiw Policy Notes and Reports
856	4	0	_uhttps://wiiw.ac.at/p-7558.html
942			_cP
999			_c9165 _d9165