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Dependent Monetary Regimes in Post-Communist Balkan Periphery: Currency Boards in Bulgaria and Bosnia and Herzegovina

In: Diversity of Capitalism in Central and Eastern Europe

Author

Listed:
  • Eric Magnin

    (University Paris Cité)

  • Nikolay Nenovsky

    (University of Picardie Jules Verne
    State University HSE and Department of Political Economy, RUDN)

Abstract

In this chapter, we present in a comparative perspective the post-communist economic development of the CEE countries and the Balkans, as well as the central place of the monetary regime in the overall institutional dynamics. Currency boards and official euroization in the countries of the Balkan region have been reconstructed from the standpoint of the model of dependent capitalism and dependent monetary regime. They are a kind of extreme, archetypal form of monetary dependence. The introduction and functioning of Currency boards in Bulgaria and Bosnia and Herzegovina, as well as the euro (DM) as legal tender in Montenegro and Kosovo, are studied. Currency boards and euroization clearly show the role of economic interests and power asymmetries both between actors within countries and between national and international interest groups, the manifestation of geopolitical and geoeconomical dependencies and ambitions. In this chapter, we focus on Currency boards in Bulgaria and Bosnia and Herzegovina, and in the next on euroization of Montenegro and Kosovo.

Suggested Citation

  • Eric Magnin & Nikolay Nenovsky, 2022. "Dependent Monetary Regimes in Post-Communist Balkan Periphery: Currency Boards in Bulgaria and Bosnia and Herzegovina," Springer Books, in: Diversity of Capitalism in Central and Eastern Europe, chapter 0, pages 109-132, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-04950-7_6
    DOI: 10.1007/978-3-031-04950-7_6
    as

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