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State-owned Enterprises Behaviour in Transition Economies and Inflation (The Case of Bulgaria 1991-1995)


  • Mariela Nenova-Amar

    (Agency for Economic Analysis and Forecasting)

  • Alfredo Canavese


The study presents a dynamic model of inflation. The state-owned enterprises behaviour during the process of transition to a market economy has been thoroughly investigated. The model is based on the statistical data for Bulgarian economy, but its more general analytical framework allows its implementation in investigating other countries in transition, where public sector dominates the economy. According to the model presented in the paper, if prices of goods and services produced by state-owned enterprises change relatively slowlier than the overall price level, than there arise a contradiction in the direction of change in short- and longterm inflation dynamics.

Suggested Citation

  • Mariela Nenova-Amar & Alfredo Canavese, 1996. "State-owned Enterprises Behaviour in Transition Economies and Inflation (The Case of Bulgaria 1991-1995)," Working paper series 21996en, Agency for Economic Analysis and Forecasting.
  • Handle: RePEc:eaf:wpaper:21996en

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    References listed on IDEAS

    1. Philippe Aghion & Olivier J. Blanchard, 1994. "On the Speed of Transition in Central Europe," NBER Chapters,in: NBER Macroeconomics Annual 1994, Volume 9, pages 283-330 National Bureau of Economic Research, Inc.
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    More about this item


    Inflation; transition economy; state-owned enterprises;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation


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