Bulgaria: Fifteen Years Later

Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise Currency Board Working Paper No. 2

7 Pages Posted: 13 Nov 2012

See all articles by Steve H. Hanke

Steve H. Hanke

Johns Hopkins University - Department of Economics

Date Written: November 12, 2012

Abstract

In this paper I reflect on my experiences in Bulgaria, where I served as President Stoyanov's adviser and played a major role in establishing Bulgaria's currency board. The first of July marked the anniversary of a momentous day in Bulgarian history. On that day, fifteen years ago, Bulgaria installed its currency board system (CBS), finally ending its hyperinflation, which had peaked with a monthly inflation rate of 242%, in February 1997. Armed with a currency board system, Bulgarians overcame the hyperinflation crisis of 1996-97 and finally began to realize stability and economic growth. Now, it’s time to get serious about Bulgaria’s biggest problem: corruption.

Keywords: Hanke, Currency Board, Boards, Bulgaria, Hyperinflation, Corruption

Suggested Citation

Hanke, Steve H., Bulgaria: Fifteen Years Later (November 12, 2012). Johns Hopkins Institute for Applied Economics, Global Health, and Study of Business Enterprise Currency Board Working Paper No. 2. Available at SSRN: https://ssrn.com/abstract=2174567 or http://dx.doi.org/10.2139/ssrn.2174567

Steve H. Hanke (Contact Author)

Johns Hopkins University - Department of Economics ( email )

3400 Charles Street
Baltimore, MD 21218-2685
United States
410-516-7183 (Phone)
410-516-8996 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
44
Abstract Views
277
PlumX Metrics