In 1996/1997 Bulgaria was hit by a severe financial crisis, spreading from a banking crisis to a currency crisis … also show how Bulgaria managed to overcome the crisis by introducing a second generation currency board allowing the …

Bulgaria and Romania are neighbouring countries, which have always been rivals. Following the decision on EU … enlargement to include Bulgaria and Romania (late 1999) and with membership negotiations already started (2004), the race between … its discretionary monetary policy and since 2005 has moved to inflation targeting, Bulgaria made an abrupt turn in mid …

This paper traces the origins of the different monetary regimes adopted in Bulgaria and Romania in 1996-97 and examines … their performance during the EU accession. The findings indicate that the constraints of the currency board in Bulgaria … rise in private and public debt. The paper also explores the historical parallels between the monetary regimes of Bulgaria …

The recent pressure on public finances in Bulgaria has exposed the need for a performance-based system of public …

Despite their progress Bulgaria and Romania significantly differ from the EU economies. In this article, on the basis … and a flexible exchange rate, Bulgaria has adopted a currency board regime. For this purpose we analyze: (i) the degree of …

This paper studies the dynamics of the bank efficiency in Bulgaria in the years 1923 and 1928. In the course of …

The importance of analysing inflation sources and dynamics in Bulgaria is imposed by (i) the long run process of price … an attempt to estimate Balassa - Samuelson (BS) effect in Bulgaria (after the introduction of the Currency Board). The BS …

In 1996/1997 Bulgaria was hit by a severe financial crisis, spreading from a banking crisis to a currency crisis. While … hazard models of currency crises than the Asian Crisis. We also show how Bulgaria managed to overcome the crisis by …