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Strategic Elements of the Macroeconomic Policy in Bulgaria

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  • Garabed Minassian

Abstract

The development of an overall vision for making an adequate macroeconomic policy in perspective involves the localisation of possible sources of economic tension, as well as the relevant fields of tension in the context of the specific macroeconomic objectives. An attempt has been made to outline basic types of potential tensions in the Bulgarian economy in the mid-term perspective and to formulate recommended versions of macroeconomic policy. The analytical study is targeted at defending strategic principles of behaviour of the macroeconomic policy in contract to the construction of tactical practices for achieving given short-term objectives. The whole analysis and recommendations are in the spirit of the liberal economic doctrine and especially the understanding that the main macroeconomic policy instruments are (unpretending any hierarchic order) in the field of budgetary and monetary impacts and the development of a well-functioning institutional environment.

Suggested Citation

  • Garabed Minassian, 2006. "Strategic Elements of the Macroeconomic Policy in Bulgaria," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-34.
    • Handle: RePEc:bas:econth:y:2006:i:4:p:3-34
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    References listed on IDEAS

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    1. Giuliano, Paola & Ruiz-Arranz, Marta, 2009. "Remittances, financial development, and growth," Journal of Development Economics, Elsevier, vol. 90(1), pages 144-152, September.
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    More about this item

    JEL classification:

    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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