The analysis presented in this article focuses on seigniorage revenues in five Central and Eastern European Countries: Bulgaria, the Czech Republic, Hungary, Poland and Romania. A comprehensive discrete period accounting framework for measuring the sources and uses of seigniorage in the 1990s is...

Most EU governments reacted to the global economic crisis with a dramatic increase in spending. Their reactions had two main goals in mind: first, to bailout failing financial systems and second, to substitute the decline in private demand with a boost in aggregate public spending. For Bulgaria,...

The series of currency crises which hit several developing countries in the 1990s did not leave the emerging market economies of Central and Eastern Europe unscathed. However, contrary to the experience of Mexico in 1995 and South East Asia in 1997-1998, the roots of the crises in our region...

The paper examines the nature of the Bulgarian banking and currency crises in 1996.1997 and evaluates the causal link between them. The analysis shows that the banking crisis has resulted from slow structural reforms, inefficient prudential regulation and prolonged unsound lending practices. The...

This study constitutes part of the "Support for Economic Reforms in Bulgaria" project conducted by the Center for Economic and Social Research (CASE Research Foundation), Warsaw and financed by the Open Society Institute, Budapest. The aim of the project is to assist co-operation with Bulgarian...

This Report presents the results of empirical research concerning the progress of privatization and its impact on the situation of privatized enterprises. The study is a part of the system of monitoring the processes of ownership transformations in the Bulgarian economy. The research was carried...

The paper is an attempt at a comparative overview of banking sector systemic risk in six Central European countries as of the end of 1997 concluding with some policy recommendations. The countries covered by the paper (Bulgaria, Czech Republic, Hungary, Poland, Romania and Slovakia) are specific...