Miller, Jeffrey B - In: Comparative Economic Studies 43 (2001) 1, pp. 53-74
Following a severe financial crisis in 1996 and early 1997 Bulgaria established a currency board. In many respects the currency board has been a great success. From hyperinflationary levels in February 1997, inflation fell to single-digit levels in 1998 and 1999. The economy has also begun to...