Many support, little benefit – the balance sheet of Hungarian industrial policy
Based on the economic debates in Hungary over the past few years, it is easy to conclude that the state should not intervene in the selection of industries and companies for support. However, the OECD’s latest recommendations do not call for the complete abandonment of industrial policy, but rather for its rethinking, guided by the principles of small, open economies. We have assessed how the Hungarian model performs according to these five criteria.
Based on the economic debates in Hungary in recent years, it is easy to conclude that the state should not intervene in the selection of industries and companies for support. However, the OECD’s recent recommendations do not call for the abandonment of industrial policy, but rather for its rethinking, with a focus on small, open economies. We have examined how the Hungarian model performs based on five criteria.
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