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Peut-on mesurer le changement institutionnel du régime monétaire ?

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  • Yorgos Rizopoulos
  • Nikolay Nenovsky

Abstract

[eng] Can we measure the institutional change of the monetary regime ? . The paper explores the possibilities to measure the institutional change in the monetary field. A political economy theoretical framework is built up, where the monetary regime change is analysed as the outcome of the debtors - creditors interactions. In this perspective, the value of some traditional monetary variables during the period before and after the introduction of the Currency Board in Bulgaria, in 1997, reveals the main actors' evolving relative positions. . JEL classification : E42, E52, O10, P30 [fre] Dans une perspective d'économie politique, ce papier explore les possibilités de mesure du changement institutionnel dans le domaine monétaire. L'approche adoptée met en avant les interactions des principaux groupes d'acteurs afin de construire un cadre interprétatif général du changement institutionnel et d'identifier des éléments quantitatifs qui rendraient compte de ce processus. Une interprétation institutionnaliste de certaines variables monétaires classiques est proposée à partir d'un exemple de changement radical du régime monétaire : l'introduction du currency board en Bulgarie, en 1997. . Classification JEL : E42, E52, O10, P30

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Bibliographic Info

Article provided by Programme National Persée in its journal Revue d'économie financière.

Volume (Year): 75 (2004)
Issue (Month): 2 ()
Pages: 17-36

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Handle: RePEc:prs:recofi:ecofi_0987-3368_2004_num_75_2_4891

Note: DOI:10.3406/ecofi.2004.4891
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  1. Raiser, M. & Di Tommaso, M.L. & Weeks, M., 2000. "The Measurement and Determination of Institutional Change: Evidence from Transition Economics," Cambridge Working Papers in Economics 0029, Faculty of Economics, University of Cambridge.
  2. Martin Raiser & Maria L. Di Tommaso & Melvyn Weeks, 2001. "The Measurements and Determinants of Institutional Change: Evidence from Transition Economies," Working Papers 60, European Bank for Reconstruction and Development, Office of the Chief Economist.
  3. Commons, John R., 1931. "Institutional Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 21, pages 648-657.
  4. J�nos Kornai, 2000. "What the Change of System from Socialism to Capitalism Does and Does Not Mean," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 27-42, Winter.
  5. G�rard Roland, 2002. "The Political Economy of Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 29-50, Winter.
  6. Lee J. Alston & Andres Gallo, 2000. "Evolution and Revolution in the Argentine Banking System under Convertibility: The Roles of Crises and Path Dependence," NBER Working Papers 8008, National Bureau of Economic Research, Inc.
  7. Brian J. Loasby, 2000. "Market institutions and economic evolution," Journal of Evolutionary Economics, Springer, vol. 10(3), pages 297-309.
  8. Geoffrey M. Hodgson, 1998. "The Approach of Institutional Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 166-192, March.
  9. Schotter, Andrew & Schwodiauer, Gerhard, 1980. "Economics and the Theory of Games: A Survey," Journal of Economic Literature, American Economic Association, vol. 18(2), pages 479-527, June.
  10. Berglöf, Erik & Bolton, Patrick, 2003. "The Great Divide and Beyond - Financial Architecture in Transition," CEPR Discussion Papers 3476, C.E.P.R. Discussion Papers.
  11. Ulrich Witt, 1989. "The evolution of economic institutions as a propagation process," Public Choice, Springer, vol. 62(2), pages 155-172, August.
  12. Mancur Olson, Jr., 1995. "Why the Transition from Communism Is So Difficult," Eastern Economic Journal, Eastern Economic Association, vol. 21(4), pages 437-461, Fall.
  13. Dorrucci, Ettore & Firpo, Stefano & Mongelli, Francesco Paolo & Fratzscher, Marcel, 2002. "European integration: what lessons for other regions? The case of Latin America," Working Paper Series 0185, European Central Bank.
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Cited by:
  1. Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2005. "Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission," Post-Print halshs-00008096, HAL.
  2. Dimiter Ialnazov & Nikolay Nenovsky, 2011. "A Game Theory Interpretation of the Post-Communist Evolution," Journal of Economic Issues, M.E. Sharpe, Inc., vol. 45(1), pages 41-56, March.
  3. Dimiter Ialnazov & Nikolay Nenovsky, 2010. "The evolution of post-communist countries: An interpretation from the perspective of cooperation," ICER Working Papers 03-2010, ICER - International Centre for Economic Research.
  4. Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2004. "Credibility and Adjustment : Gold Standards versus Currency Boards," CAE Working Papers 11, Aix-Marseille Université, CERGAM.
  5. Nikolay Nenovsky, 2009. "Monetary Regimes in Post-Communist Countries. Some Long-Term Reflections," Working paper series 12009en, Agency for Economic Analysis and Forecasting.
  6. Nikolay Nenovsky & Gergana Mihaylova, 2007. "Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria for the Period 1990 – 2005," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 72-92.
  7. Nikolay Nenovsky, 2010. "The Bulgarian Economic Thought since 1989: A Personal View," ICER Working Papers 21-2010, ICER - International Centre for Economic Research.

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