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Measuring the Institutional Change of the Monetary Regime in a Political Economy Perspective (Groups of interest and monetary variables during the Currency Board introduction in Bulgaria)

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  • Nikolay Nenovsky

    ()

  • Yorgos Rizopoulos

    ()

Abstract

The paper explores the possibilities to measure the institutional change in the monetary field. A political economy theoretical framework is built up, where the change of the monetary regime is analyzed 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.

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Bibliographic Info

Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp732.

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Length: pages
Date of creation: 01 Dec 2004
Date of revision:
Handle: RePEc:wdi:papers:2004-732

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Keywords: institutional change; monetary regime; Currency Board; transition; Bulgar;

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