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Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria for the Period 1990 – 2005

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Abstract

The transitional period is always connected to redistribution processes and change in the financial wealth of the economic agents. The examination of the redistribution of wealth and its dynamics is important related to the possibilities for a more complete study and rationalization of the changes that occurred in the economy. In this connection the dynamics of financial wealth of the institutional sectors in Bulgaria for the period 1990 – 2005 is assessed and analyzed. The main net creditors and debtors to the economy are differentiated and their behavior before and after the change of the monetary regime is examined. Econometric simulations are made on the main factors that determine the shift in the sector financial wealth. In the progress of the expose grounded is the hypothesis (which to a great extent is confirmed by the empirical results) for a functional relation between the dynamics of redistribution and the change of the monetary regime.

Suggested Citation

  • Nikolay Nenovsky & Gergana Mihaylova, 2007. "Dynamics of the Financial Wealth of the Institutional Sectors in Bulgaria for the Period 1990 – 2005," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 72-92.
    • Handle: RePEc:bas:econth:y:2007:i:4:p:72-92
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    References listed on IDEAS

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    1. Miller, Jeffrey & Petranov, Stefan, 2001. "The Financial system in the Bulgarian economy," MPRA Paper 107704, University Library of Munich, Germany, revised Oct 2001.
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    5. Nikolay Nenovsky & Yorgos Rizopoulos, 2004. "Peut-on mesurer le changement institutionnel du régime monétaire ?," Revue d'Économie Financière, Programme National Persée, vol. 75(2), pages 17-36.
    6. Michael Berlemann & Nikolay Nenovsky, 2004. "Lending of First versus Lending of Last Resort: The Bulgarian Financial Crisis of 1996/19971," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(2), pages 245-271, June.
    7. Nikolay Nenovsky & Yorgos Rizopoulos, 2003. "Extreme Monetary Regime Change: Evidence from Currency Board Introduction in Bulgaria," Journal of Economic Issues, Taylor & Francis Journals, vol. 37(4), pages 909-941, December.
    8. Dobrinsky, Rumen, 2000. "The Transition Crisis in Bulgaria," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 24(5), pages 581-602, September.
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    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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