Abstract

http://ssrn.com/abstract=988179
 
 

References (26)



 


 



Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria: Empirical Studies of the Post-Communist Period


Nikolay Nenovsky


Bulgarian National Bank

Gergana Mihaylova


University of National and World Economy (UNWE)

March 2007

William Davidson Institute Working Paper No. 864

Abstract:     
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 changes in Eastern Europe. This article has two basic tasks - one empirical and one theoretical. Our empirical task is to analyse the dynamics of the financial wealth of the institutional sectors in Bulgaria in the period 1998-2005 and to identify the major net creditors and net debtors. The empirical data used for the purpose are based on adapted methodology for the financial account of the Bulgarian economy according to the requirements of the System of National Accounts (SNA). Econometric simulations have been carried out of the major factors conditioning the change in the sectoral financial wealth. The empirical investigations are given in Part 3. Our theoretical task is to prove the hypothesis (which is to a large extent supported by the empirical results) about the functional relationship between the dynamics of redistribution and the change in monetary regime. This is presented in Part 2 and is discussed in Part 4.

Number of Pages in PDF File: 28

Keywords: redistribution, financial wealth, financial account, Bulgaria

JEL Classification: D31, E42, P30

working papers series





Download This Paper

Date posted: May 23, 2007  

Suggested Citation

Nenovsky, Nikolay and Mihaylova, Gergana, Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria: Empirical Studies of the Post-Communist Period (March 2007). William Davidson Institute Working Paper No. 864. Available at SSRN: http://ssrn.com/abstract=988179 or http://dx.doi.org/10.2139/ssrn.988179

Contact Information

Nikolay Nenovsky (Contact Author)
Bulgarian National Bank ( email )
str "St. Sofia" 5
Sofia, 1040
Bulgaria
+ 359 2 9145 1239 (Phone)
+ 359 2 980 24 25 (Fax)
Gergana Mihaylova
University of National and World Economy (UNWE) ( email )
Sofia
Bulgaria
Feedback to SSRN


Paper statistics
Abstract Views: 349
Downloads: 31
References:  26

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 0.312 seconds