The money market and monetary policy during economic transition

Stefan Petranov
Authors registered in the RePEc Author Service: Стефан Петранов

MPRA Paper from University Library of Munich, Germany

Abstract: The paper considers the extent to which the conditions for efficient monetary policy are present during the transition period from centrally planned to a market economy. The author concludes that the peculiarities of transition are cause for much uncertainty in the money market, and hence, result in low monetary policy efficiency. Therefore there is a need for improvement in the identification and projection of money market conditions, and the establishment, to the extent possible, of a stable regulatory framework. The paper proves the need for monetary policy comprehensiveness in terms of the interrelation between money supply control and foreign exchange policy.

Keywords: Bulgaria; economic transition; monetary policy; foreign exchange policy (search for similar items in EconPapers)
JEL-codes: E51 E52 E58 P2 (search for similar items in EconPapers)
Date: 1996-01
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Published in Bulgarian National Bank Monthly Bulletin 6 (1996): pp. 28-32

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:105425

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