Paying the bill for goulash-communism. Hungarian development and macro-stabilization in a political economy perspective. The reform process and post-socialist transformation have been played out over the last 30 years in Hungary. Even after the political system transformation, four characteristics mark this period, namely : the priority given to the population's material welfare ; a strong, paternalistic welfare state ; the gradualism of the reform process and transition ; and political rest. The stabilization program, announced on March 12, 1995, shifts away from these characteristics. From a political economy perspective, why did these four characteristic develop, how did they affect each other, and what positive and negative consequenc...