This paper analyses exchange rate control measures adopted in Italy and Bulgaria during the interwar period. The first two sections provide a detailed account of the institutional and economic framework in which these measures were enforced and interpret them utilizing statistical data. In the...

Econometric forecasting models typically perform bad in volatile environments as they are often present in economies in transition. Since forecasts of key macroeconomic variable are inevitable as guidelines for economic policy, one might alternatively make attempts at measuring market...

The paper presents a brief review of the systems of deposit insurance in accession countries, comparing their level of harmonization with the perspective of their EU integration. Studying the different practices of deposit insurance in thecontext of developing financial safety nets in future...

The paper presents the coverage levels and institutional features of deposit insurance in EU accession countries. A simple comparison in relative and nominal terms states that deposit insurance in 10 Central and Eastern European countries is considerably not only above the level of 'the good...

Most of the available literature on economic and monetary history deals with the advanced countries of Western Europe and the United States of America. The monetary and financial history of South-Eastern Europe, however, is still largely unexplored. So far, historical study of the monetary...

The Bulgarian monetary system was established, immediately after it gained independence, at a time in which the very meaning of money was being redefined at an international level, with the diffusion of the gold standard. Within this framework, the possibility of attaining monetary stability in...

The question of who benefits and who loses from the transition, the channels and mechanisms of redistribution of wealth in the post-communist period, and the relation between redistribution and monetary regime are, in our opinion, fundamental in understanding theoretically the deep systemic...

The paper generalizes benefits and costs of potential official euroisation of Bulgarian economy in the process of accession to European Union and European Monetary Union. Since Bulgarian has a currency board the paper emphasizes on the comparison of current monetary regime and official...

The transitional period is always connected to redistribution processes and change in the financial wealth of the economic agents. The examination of the redistribution of wealth and its dynamics is important related to the possibilities for a more complete study and rationalization of the...

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 shifted economic activity towards the private sector,...