Lessons and Challenges for CESEE Countries and a Modern Europe
Edited by Ewald Nowotny, Doris Ritzberger-Grünwald and Helene Schuberth
Chapter 10: Structural reforms in Slovakia: past and present (never-ending story . . .)
Structural reforms are important for sustainable growth, for better welfare and for eliminating macroeconomic imbalances. Since 1993, Slovakia has had to cope with liberalization, deregulation and privatization. Its adaptation to an open market was based on learning by doing. The conditions for major reforms were created at the turn of millennium and consistent reform steps guided the country towards accession to the European Union. Structural reforms in almost all areas and of all kinds were further shaping Slovakia right up to its entry into the euro area. Recent crises have revealed the importance of fiscal rules. Therefore fiscal reform has continued, with the introduction of the Fiscal Responsibility Act (including a ‘debt brake’) and the Value for Money project. Slovakia offers a clear example of the favourable results of well-implemented structural reforms. It must not, however, rest on its laurels; there is still much to do in many areas.
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.