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Monetary Regimes in Post-Communist Countries. Some Long-Term Reflections

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  • Nikolay Nenovsky

Abstract

This article offers an attempt at typologisation of the evolution of monetary regimes in post-communist countries (1990-2008), which is exceptionally varied by character. Two large groups have emerged: type 1 – countries, which started their reforms with a regime of fixed exchange rate and dominating external sources of money supply, and type 2 – countries starting their reforms with a floating exchange rate and predominating internal sources of money supply. The first type is much more successful and appropriate for managing the problems of transition. Some other elements of typologisation have also been suggested based on specific definitions of monetary system and monetary regime. The article also presents various approaches, which can explain the evolution of monetary regimes observed in the former socialist countries.

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Bibliographic Info

Paper provided by Agency for Economic Analysis and Forecasting in its series Working paper series with number 12009en.

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Length: 24 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:eaf:wpaper:12009en

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Keywords: monetary regimes; post-communist countries; comparative economics;

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Citations

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Cited by:
  1. repec:cmj:journl:y:2013:i:29:cioran is not listed on IDEAS
  2. 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.
  3. 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.
  4. Zina V.MARCU căs. CIORAN, 2013. "Monetary Policy And The Inflation Targeting Strategy," SEA - Practical Application of Science, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 2, pages 167-173, October.
  5. 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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