In 1996/1997 Bulgaria was hit by a severe financial crisis, spreading from a banking crisis to a currency crisis. However, in comparison to the Asian, the Russian or the recent Tango Crisis the Bulgarian Crisis did arouse relatively low international interest. We argue that the Bulgarian...

In the summer of 1931, the Austro-German banking crisis spread to Romania and Bulgaria. In the Romanian case, the management of the crisis confronted three types of protagonists - politicians, bankers and central bankers - and positions about the relevant attitude to adopt, in particular to...

Chapter 1: Introduction -- Part I: Theoretical Foundations -- Chapter 2: Varieties or Diversity of Capitalism? -- Chapter 3: Dependent Capitalism -- Chapter 4: Dependent Monetary Regime -- Part II: Empirical And Historical Perspectives -- Chapter 5: Dependent Capitalism in Central and Eastern...

In this study we reconstruct the Balkan countries' monetary relations with Western Europe in the period of the Latin Monetary Union (LMU), particularly from 1867 to 1912. We concentrate on the complex puzzle of LMU and its relations with the Balkans within the theoretical framework of dependent...

In recent years a number of countries have introduced currency boards (CB). The new generation currency boards, which is gaining swing and popularity, preserves to different degrees the central bank's ability to perform the lender of last resort function (LOLR) and leaves room for intervention...