OECD Reviews of Regulatory Reform: Regulatory Reform in Hungary 2000

OECD's 2000 review of regulatory reform in Hungary. It finds that after ten years of determined reform, Hungary has constructed the legal and policy frameworks consistent with market democracy, and is nearing completion of an historic economic transition. This challenging process required extensive regulation and institution building, as well as massive deregulation, and has generated significant economic benefits. Today, convergence with the EU and achievement of OECD best practices still represent daunting tasks. But in most areas, Hungary faces challenges much like those of other OECD countries in establishing the quality regulatory regimes needed to support good government and sustainable economic growth. Hungary’s main objectives now are to bring market performance into line with its peers through strengthening competition and improving regulatory governance and social protections. Further reforms will bring important gains in creating jobs, improving sectoral and regional performance, and reducing the costs of public policies.