Freedom of the Markets versus Good Governance

The market and the state, operation and characteristics of two institutions of key importance in the modern mixed economies, are investigated for the former socialist countries in this study. After two decades it can be seen more clearly what system has been established in the region, how it operat...

Full description

Bibliographic Details
Main Author: László Muraközy
Format: Article
Language:English
Published: University of Debrecen, Faculty of Economics and Business 2010-12-01
Series:Competitio
Subjects:
Online Access:https://ojs.lib.unideb.hu/competitio/article/view/6840
_version_ 1797398297283919872
author László Muraközy
author_facet László Muraközy
author_sort László Muraközy
collection DOAJ
description The market and the state, operation and characteristics of two institutions of key importance in the modern mixed economies, are investigated for the former socialist countries in this study. After two decades it can be seen more clearly what system has been established in the region, how it operates, and what its characteristics are. In the first part of the with the help of international comparisons we examine how free the market is, how good the rules are, and how much they help, or hinder, the fulfilment of its function. From an other aspect we compare the scope of the good governance and the size, the freedom and efficiency of the state. According to the evidence of the international studies examined, the former socialist countries established the forms of the market institutional system relatively quickly, but the operation and quality of these lagged significantly behind those of the developed countries. Also important conclusion of the study is that by the first decade of the millennium the characteristics of the former socialist countries are increasingly diverging from one another. Both the characteristics of the earlier socialism, and the more distant historical past which can be caught in the act within it, had and have an effect on the economic and social systems now established in Eastern and Central Europe. Journal of Economic Literature (JEL) codes: H1, P17, P27, P35
first_indexed 2024-03-09T01:23:34Z
format Article
id doaj.art-8a55f395b4ff4604ad48d3d9158aa726
institution Directory Open Access Journal
issn 1588-9645
2939-7324
language English
last_indexed 2024-03-09T01:23:34Z
publishDate 2010-12-01
publisher University of Debrecen, Faculty of Economics and Business
record_format Article
series Competitio
spelling doaj.art-8a55f395b4ff4604ad48d3d9158aa7262023-12-10T07:58:57ZengUniversity of Debrecen, Faculty of Economics and BusinessCompetitio1588-96452939-73242010-12-019210.21845/comp/2010/2/3Freedom of the Markets versus Good GovernanceLászló Muraközy0University of Debrecen Faculty of Economics and Business Administration The market and the state, operation and characteristics of two institutions of key importance in the modern mixed economies, are investigated for the former socialist countries in this study. After two decades it can be seen more clearly what system has been established in the region, how it operates, and what its characteristics are. In the first part of the with the help of international comparisons we examine how free the market is, how good the rules are, and how much they help, or hinder, the fulfilment of its function. From an other aspect we compare the scope of the good governance and the size, the freedom and efficiency of the state. According to the evidence of the international studies examined, the former socialist countries established the forms of the market institutional system relatively quickly, but the operation and quality of these lagged significantly behind those of the developed countries. Also important conclusion of the study is that by the first decade of the millennium the characteristics of the former socialist countries are increasingly diverging from one another. Both the characteristics of the earlier socialism, and the more distant historical past which can be caught in the act within it, had and have an effect on the economic and social systems now established in Eastern and Central Europe. Journal of Economic Literature (JEL) codes: H1, P17, P27, P35 https://ojs.lib.unideb.hu/competitio/article/view/6840Performance of Governmentpublic economicsinternational comparison
spellingShingle László Muraközy
Freedom of the Markets versus Good Governance
Competitio
Performance of Government
public economics
international comparison
title Freedom of the Markets versus Good Governance
title_full Freedom of the Markets versus Good Governance
title_fullStr Freedom of the Markets versus Good Governance
title_full_unstemmed Freedom of the Markets versus Good Governance
title_short Freedom of the Markets versus Good Governance
title_sort freedom of the markets versus good governance
topic Performance of Government
public economics
international comparison
url https://ojs.lib.unideb.hu/competitio/article/view/6840
work_keys_str_mv AT laszlomurakozy freedomofthemarketsversusgoodgovernance