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The Bulgarian Currency Board

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  • Jeffrey B Miller

    (Department of Economics, University of Delaware)

Abstract

Following a severe financial crisis in 1996 and early 1997 Bulgaria established a currency board. In many respects the currency board has been a great success. From hyperinflationary levels in February 1997, inflation fell to single-digit levels in 1998 and 1999. The economy has also begun to grow. While enormously successful so far, the currency board has only been in place for a short time. This paper outlines prospective problems that must be faced and explores whether the currency board is sustainable in the longer-run. Comparative Economic Studies (2001) 43, 53–74; doi:10.1057/ces.2001.3

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

Volume (Year): 43 (2001)
Issue (Month): 1 (April)
Pages: 53-74

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Handle: RePEc:pal:compes:v:43:y:2001:i:1:p:53-74

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Cited by:
  1. Michael Berlemann & Kalina Dimitrova & Nikolay Nenovsky, 2000. "Assessing Market Expectations on Exchange Rates and Inflation: A Pilot Forecasting System for Bulgaria," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan wp759, William Davidson Institute at the University of Michigan.
  2. repec:cbk:journl:v:1:y:2013:i:3:p:157-176 is not listed on IDEAS
  3. Neven Valev, 2004. "From a Currency Board to the Euro: Public Attitudes toward Unilateral Euroization in Bulgaria," International Center for Public Policy Working Paper Series, at AYSPS, GSU, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University paper0423, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  4. Stefka Slavova, 2003. "Money demand during hyperinflation and stabilization: Bulgaria, 1991-2000," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 35(11), pages 1303-1316.
  5. Neven Valev & John A. Carlson, 2004. "Beliefs about Exchange-Rate Stability: Survey Evidence from the Currency Board in Bulgaria," International Center for Public Policy Working Paper Series, at AYSPS, GSU, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University paper0424, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  6. Nikola Fabris & Gojko Rodić, 2013. "The Efficiency of the Currency Board Arrangement," Journal of Central Banking Theory and Practice, Central bank of Montenegro, Central bank of Montenegro, vol. 2(1), pages 157-176.

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