Fiscal Deficits, Monetary Reform and Inflation in Transition Economies: The Case of Bulgaria

Budina, Nina and Wijnbergen, Sweder Van (March 1995) Fiscal Deficits, Monetary Reform and Inflation in Transition Economies: The Case of Bulgaria. Reihe Osteuropa / East European Series 21

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Abstract: We develop a simple integrated framework to assess consistency between fiscal policy, monetary reform and inflation. The framework is designed to be applicable in transition economies, where reliable data are at a premium and the financialsector in a state of flux. The model is applied to Bulgaria and is used to assess the impact of financial reform, debt management and external debt relief on the relation between fiscal deficits and sustainable inflation. We also discuss the impact of a transition to market rate of interest on foreign and domestic debt, of a recovery of real output growth and delays in fiscal adjustment.;

Item Type: IHS Series
Status: Published
Date Deposited: 26 Sep 2014 10:36
Last Modified: 01 Apr 2016 14:09
URI: http://irihs.ihs.ac.at/id/eprint/829

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