Accéder directement au contenu Accéder directement à la navigation
Article dans une revue

Bulgaria’s hyperinflation in 1997: transition, banking fragility and foreign exchange

Abstract : This article has two objectives: to study the 1997 episode of hyperinflation in Bulgaria, and to compare and contrast this analysis with the post-Keynesian theoretical approach. This approach highlights the role of three components observed simultaneously in order to understand the emergence of hyperinflation: a virulent distributive conflict; the presence of indexing mechanisms; and finally, flight from domestic currency into one or more foreign currencies. The article reveals that a transitional economy like that of Bulgaria in the 1990s may generate hyperinflation in the absence of any violent distribution conflict: the transition and the banking crisis engender inflation. The foreign exchange rate is decisive in the emergence of hyperinflationary dynamics (and therefore mistrust of domestic currency). This interpretation of hyperinflation is confirmed by an econometric analysis.
Type de document :
Article dans une revue
Liste complète des métadonnées
Contributeur : Jonathan Marie Connectez-vous pour contacter le contributeur
Soumis le : mercredi 9 août 2017 - 16:59:41
Dernière modification le : mercredi 28 avril 2021 - 21:34:24



Jonathan Marie, Sébastien Charles. Bulgaria’s hyperinflation in 1997: transition, banking fragility and foreign exchange. Post-Communist Economies, Taylor & Francis (Routledge), 2017, 29 (3), ⟨10.1080/14631377.2017.1339476⟩. ⟨hal-01573503⟩



Consultations de la notice