From a Currency Board to the Euro: Public Attitudes Toward Unilateral Euroization in Bulgaria

23 Pages Posted: 17 Feb 2005

See all articles by Neven T. Valev

Neven T. Valev

Georgia State University - Department of Economics

Date Written: January 2005

Abstract

Bulgaria has operated a currency board since 1997. It is expected to join the EU in 2007 and the EMU thereafter. This paper uses survey data to analyze public attitudes toward adoption of the euro in advance of EMU membership. Bulgarians are equally split in support for and opposition to euroization. The reasons to support euroization include the eliminated risk of currency devaluation and the perception that the euro is already widely used in the economy. The opposition derives from people's attachment to the national currency and from concerns about the conversion costs involved in a switch to the euro.

Keywords: Euroization, dollarization, euro, survey data, Bulgaria, currency boards

JEL Classification: P2, F3

Suggested Citation

Valev, Neven T., From a Currency Board to the Euro: Public Attitudes Toward Unilateral Euroization in Bulgaria (January 2005). Available at SSRN: https://ssrn.com/abstract=668048 or http://dx.doi.org/10.2139/ssrn.668048

Neven T. Valev (Contact Author)

Georgia State University - Department of Economics ( email )

Andrew Young School of Policy Studies
University Plaza
Atlanta, GA 30303
United States
404-651-0418 (Phone)
404-651-4985 (Fax)

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