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Reforms are not created simply by will, they are constrained by path dependency and also by existing economic and political structures. The course of reforms is also dependent on the formulation of reform alternatives and the balance of power among decisive actors. Both the postponement and then the introduction of the pension reform in Hungary can be explained by the economic and political constraints of the reform, by how reform alternatives were formulated, and by the role of the different actors in the reform process. The structure of this paper reflects these considerations. First, I summarize the characteristics of the socialist pension system that partly created path dependency in the process of pension reform. Second, I look at the economics of pension reform, by discussing the economic constraints of the reforms, and presenting the economic aspects of reform arguments and economic policies modifying and changing the pension system. Third, I examine the politics of the pension reform, and describe the political process of bargaining that generated reform outcomes. Finally, I deal with the role of the World Bank that was the most important international actor in the Hungarian pension reform process.

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Senior editors

Editor(s)-in-Chief: Prof. Dr. Mihályi, Péter

Editor(s): Ványai, Judit

Editorial Board

  • Ádám Török (Chairman) / University of Pannonia; Budapest University of Technology and Economics
  • Edina Berlinger / Corvinus University of Budapest, Department of Finance
  • Beáta Farkas / Faculty of Economics and Business Administration, University of Szeged
  • Péter Halmai / Budapest University of Technology and Economics; National University of Public Service
  • István Kónya / Institute of Economics Centre for Regional and Economic Studies, University of Pécs
  • János Köllő / Institute of Economics Centre for Regional and Economic Studies
  • István Magas / Corvinus University of Budapest, Department of World Economy; University of Physical Education, Department. of Sports and Decision Sciences
 

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  • Ǻslund, Anders, Institute of International Economics, Washington (USA)
  • Kolodko, Grzegorz, Kozminski University, Warsaw (Poland)
  • Mau, Vladimir, Academy of National Economy (Russia)
  • Messerlin, Patrick A, Groupe d’Economie Mondiale (France)
  • Saul Estrin, London School of Economics (UK)
  • Wagener, Hans-Jürgen, Europa Universität Viadrina (Germany)

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary

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2020  
Total Cites 275
WoS
Journal
Impact Factor
0,875
Rank by Economics 325/377 (Q4)
Impact Factor  
Impact Factor 0,534
without
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Impact Factor
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Citable 37
Items
Total 37
Articles
Total 0
Reviews
Scimago 13
H-index
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Scimago Economics and Econometrics Q3
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Scopus 225/166=1,4
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2019  
Total Cites
WoS
212
Impact Factor 0,914
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without
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0,728
5 Year
Impact Factor
0,650
Immediacy
Index
0,156
Citable
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45
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Articles
45
Total
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0
Cited
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Scimago
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Scopus
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214/165=1,3
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Economics and Econometrics 355/637 (Q3)
Scopus
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Acta Oeconomica
Language English
Size B5
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1966
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2021 Volume 71
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ISSN 0001-6373 (Print)
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