Figuet, Jean-Marc; Nenovsky, Nikolay - William Davidson Institute, University of Michigan - 2006
Despite their progress Bulgaria and Romania significantly differ from the EU economies. In this article, on the basis …, the two countries now differ fundamentally in their choice of a monetary regime – while Romania uses inflation targeting … and a flexible exchange rate, Bulgaria has adopted a currency board regime. For this purpose we analyze: (i) the degree of …