The Bulgarian monetary system was established, immediately after independence.Having experienced it already under Ottoman rule, newly independent Bulgaria adopted thebimetallic standard. Without being a member of the Latin Monetary Union, it tried broadlyto follow the principles of the...

Some ten years ago, Michael Dooley (Dooley, 1997; Dooley, 2000) put forwardan insurance model of currency crises, which after some modifications gives a goodtheoretical basis for explanation of the overall dynamics of the post communist transformationand diversity across countries and periods. The...