A Market Economy Manifesto for Bulgaria

Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business Enterprise, Studies in Applied Economics, Working Paper No. 5

8 Pages Posted: 23 Apr 2013

See all articles by Steve H. Hanke

Steve H. Hanke

Johns Hopkins University - Department of Economics

Date Written: March 1, 2013

Abstract

Professor Hanke served as an adviser to Bulgarian President Petar Stoyanov, from 1997 to 2002. In 1997, Bulgaria adopted a Currency Board System, based on Professor Hanke's draft Currency Board Law, which he authored at the request of President Stoyanov. The Currency Board brought an end to Bulgaria's hyperinflation which peaked with a monthly inflation rate of 242%, in February 1997.

This paper was original presented as the keynote address, delivered at the Investment Forum 2002, Sofia. In that 2002 keynote speech, Professor Hanke advocated a flat tax for Bulgaria. In 2008, Bulgaria followed that recommendation and adopted a flat tax rate of 10% on personal and corporate income.

Keywords: Steve Hanke, Bulgaria, Market, Economy, Manifesto, Johns Hopkins, Applied Economics

Suggested Citation

Hanke, Steve H., A Market Economy Manifesto for Bulgaria (March 1, 2013). Johns Hopkins Institute for Applied Economics, Global Health and the Study of Business Enterprise, Studies in Applied Economics, Working Paper No. 5. Available at SSRN: https://ssrn.com/abstract=2255026 or http://dx.doi.org/10.2139/ssrn.2255026

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)

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