Economic Opening-Up, Policy Reforms and Relations with International Organizations: A Parallel between Hungary and Russia — Some Major Differences and Similarities

Abstract

The processes of opening-up and liberalization are key fields of transition. According to many analysts the direction and nature of measures aimed at reforming foreign trade systems are the main indicators of the whole reform process. Both Hungary and Russia had recognized the significance and necessity of economic opening-up and started to liberalize the foreign trade system from the beginning of the transition period, or in the case of Hungary even before the 90’s. The Hungarian liberalization process was relatively quick and consequently painful, it was a real shock for a considerable part of Hungarian companies. As a result by now the average level of tariffs is below 5%.