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Municipal Debt Consolidation in Hungary (2011-2014) in an Asset Management Approach

Molnár, Petronella and Hegedűs, Szilárd (2018) Municipal Debt Consolidation in Hungary (2011-2014) in an Asset Management Approach. POLGÁRI SZEMLE: GAZDASÁGI ÉS TÁRSADALMI FOLYÓIRAT, 14 (Spec.). pp. 81-92. ISSN 1786-6553

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Abstract

The purpose of this study is to present Hungarian debt consolidation, its root causes and features in terms of local governments’ asset management. As an additional aim, it intends to reveal the characteristics of the Hungarian municipal system, the causes that led to debt consolidation and the rule-based measures taken to prevent future indebtedness. The study focuses on the effects of debt consolidation on asset management in the Hungarian municipal system, and particularly on the operation of cities with county rights, as they have important regional duties. There are 23 of them with roughly 2 million inhabitants, thus in the aggregate they represent as many people as the capital city. This article reveals the reasons underlying the difficult financial situation of local governments, the solutions and subsequent impacts on municipal assets.

Item Type: Article
Uncontrolled Keywords: local government indebtedness, debt consolidation, local government debt, Hungary
Subjects: H Social Sciences / társadalomtudományok > HC Economic History and Conditions / gazdaság története és alapelvek > HC2 Economic policy / gazdaságpolitika
J Political Science / politológia > JS Local government Municipal government / helyi, települési önkormányzat
Depositing User: Andrea Paár
Date Deposited: 07 Mar 2019 10:41
Last Modified: 07 Mar 2019 10:41
URI: http://real.mtak.hu/id/eprint/91902

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