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Peut-on mesurer le changement institutionnel du régime monétaire ?

Author

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  • Nikolay Nenovsky

    () (LEO - Laboratoire d'Economie d'Orléans - Université - CNRS - Centre National de la Recherche Scientifique)

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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Suggested Citation

  • Nikolay Nenovsky, 2003. "Peut-on mesurer le changement institutionnel du régime monétaire ?," Post-Print halshs-00260463, HAL.
  • Handle: RePEc:hal:journl:halshs-00260463
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00260463
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    References listed on IDEAS

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    1. Jànos 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.
    2. 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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    6. Nikolay Nenovsky, 1999. "Une économie en transition a-t-elle vraiment besoin d'une Banque Centrale? (la caisse d'émission en Bulgarie)," Post-Print halshs-00260095, HAL.
    7. Ulrich Witt, 1989. "The evolution of economic institutions as a propagation process," Public Choice, Springer, vol. 62(2), pages 155-172, August.
    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. Nikolay Nenovsky & S. Statev, 2006. "Introduction," Post-Print halshs-00260898, HAL.
    10. K. Hristov & Nikolay Nenovsky, 2002. "New Currency Boards and Discretion. The empirical Evidence from Bulgaria," Post-Print halshs-00259875, HAL.
    11. 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.
    12. 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.
    13. K. Hristov & M. Mihaylov & Nikolay Nenovsky, 2002. "Comparing institutional and organizational design of Currency Boards in transition countries," Post-Print halshs-00259880, HAL.
    14. Erik Berglof & Patrick Bolton, 2002. "The Great Divide and Beyond: Financial Architecture in Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 77-100, Winter.
    15. 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.
    16. Gérard Roland, 2002. "The Political Economy of Transition," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 29-50, Winter.
    17. repec:mes:jeciss:v:34:y:2000:i:2:p:267-289 is not listed on IDEAS
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    Citations

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    Cited by:

    1. 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.
    2. Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2005. "Confiance et ajustement dans les régimes d'étalon-or et de caisse d'émission," Mondes en développement, De Boeck Université, vol. 130(2), pages 77-93.
    3. Nikolay Nenovsky, 2010. "Monetary Regimes In Post-Communist Countries Some Long-Term Reflections," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 217-234, november.
    4. Dimiter IALNAZOV & Nikolay NENOVSKY, 2010. "The Evolution of Post-Communist Countries: An Interpretation from the Perspective of Cooperation," LEO Working Papers / DR LEO 1600, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    5. Jean-Baptiste Desquilbet & Nikolay Nenovsky, 2004. "Credibility and Adjustment : Gold Standards versus Currency Boards," CAE Working Papers 11, Aix-Marseille Université, CERGAM.
    6. Nikolay Nenovsky, 2010. "The Bulgarian Economic Thought since 1989: A Personal View," ICER Working Papers 21-2010, ICER - International Centre for Economic Research.
    7. Nenovsky, Nikolay, 2015. "The Soviets monetary experience (1917 – 1924) through the perspective of the discussion on unity and diversity of money," MPRA Paper 79864, University Library of Munich, Germany.
    8. Dimiter Ialnazov & Nikolay Nenovsky, 2011. "A Game Theory Interpretation of the Post-Communist Evolution," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(1), pages 41-56.

    More about this item

    Keywords

    mesurer; changement; institutionnel; régime monétaire;

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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