High inflation episode of 1996–97 and the Bulgarian currency board

2005 ◽  
Vol 4 (2) ◽  
pp. 95-121
Author(s):  
Stacic Beck ◽  
Jeffrey B. Miller ◽  
Mohsen M. Saad
Keyword(s):  
Currency Board ◽  
High Inflation

scholarly journals The Competitiveness in the Light of the Balassa-Samuelson Effect

2016 ◽  
Vol 1 (3) ◽  
pp. 15 ◽  
Author(s):  
Srdjan Amidzic ◽  
Sinisa Kurtes ◽  
Perica Rajcevic
Keyword(s):  
Monetary Policy ◽  
Productivity Growth ◽  
Developing Economies ◽  
International Market ◽  
Currency Board ◽  
Transitional Countries ◽  
Tradable Goods ◽  
High Inflation ◽  
Board System ◽  
High Influence

The paper aims to analyze the influence of the Balassa-Samuleson effect on the competitiveness of Bosniaand Herzegovina. As we know, theBalassa and Samuelson argue that developing economies have an appreciating currency, because they have relatively high inflation due to higher productivity growth in the production of tradable goods. This problem has existed, more or less, in all transitional countries in the EasternEurope, and it was particularly stressed in the countries with a fixed exchange rate. This paper just shows that in Bosnia and Herzegovina, in which monetary policy operates on the principles of "currency board", there is an extremely high influence of theBalassa-Samuelson effect, which leads not only to make a competitive position on the international market worse, but it brings up the question of sustainability of the existing currency board system.

On the Exchange Rate Policy

2010 ◽  
pp. 21-28
Author(s):  
K. Yudaeva
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Institutional Changes ◽  
Crisis Period ◽  
Local Currency ◽  
High Inflation ◽  
Rate Policy ◽  
The Exchange Rate

The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

The Role of New Media in Facilitating Entrepreneurship in Tourism - Case Study: Promoting Komodo Island in East Nusa Tenggara

2010 ◽  
Vol 2 (2) ◽  
pp. 63-72
Author(s):  
Dessy Kania
Keyword(s):  
New Media ◽  
Tourism Industry ◽  
World Heritage Site ◽  
Foreign Visitor ◽  
Printed Media ◽  
Heritage Site ◽  
High Inflation ◽  
Tourism Destinations

Tourism is an important component of the Indonesian economy as well as a significant source of the country’s foreign exchange revenues. According to the Center of Data and Information - Ministry of Culture and Tourism, the growth of foreign visitor arrivals to Indonesia has increased rapidly by 9.61 percent since 2010 to the present. One of the most potential tourism destinations is Komodo Island located in East Nusa Tenggara. With the island’s unique qualities, which include the habitat of the Komodo dragons and beautiful and exotic marine life, it is likely to be one of the promising tourism destinations in Indonesia and in the world. In 1986, the island has been declared as a World Heritage Site by UNESCO. The Ministry of Culture and Tourism continuously promotes many of the country’s natural potential in tourism through various media: printed media, television and especially new media. However, there are challenges for the Indonesian tourism industry in facilitating entrepreneurship skills among the local people in East Nusa Tenggara. According to the Central Bureau of Statistics (2011), East Nusa Tenggara is considered as one of the poorest provinces in Indonesia where the economy is lower than the average, with a high inflation of 15%, and unemployment of 30%. This research is needed to explore further the phenomenon behind the above facts, aiming at examining the role of new media in facilitating entrepreneurship in the tourism industry in Komodo Island. The results of this study are expected to provide insights that can help local tourism in East Nusa Tenggara. Keywords: Tourism, Entrepreneurship, New Media

Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2000

2001 ◽  
Author(s):  
Aykut Kibritcioglu ◽  
Selahattin Dibooglu
Keyword(s):  
High Inflation

Exchange Rate Dynamics Under a Currency Board When Policy Rates are Zero

2017 ◽  
Author(s):  
Cho-Hoi Hui ◽  
Ka-Fai Li ◽  
Chi-Fai Lo
Keyword(s):  
Exchange Rate ◽  
Currency Board ◽  
Exchange Rate Dynamics

scholarly journals Determinants of Non-Linear Effects of Fiscal Policy on Output: The Case of Bulgaria

2009 ◽  
Vol 4 (1) ◽  
pp. 51-61 ◽  
Author(s):  
Vladimir Vladimirov ◽  
Maria Neycheva
Keyword(s):  
Fiscal Policy ◽  
Currency Board ◽  
Main Determinant ◽  
The Real ◽  
Real Gdp ◽  
Non Linear ◽  
Short Run ◽  
Linear Effects ◽  
Policy Impacts ◽  
The Government

Determinants of Non-Linear Effects of Fiscal Policy on Output: The Case of BulgariaThe paper illuminates the non-linear effects of the government budget on short-run economic activity. The study shows that in the Bulgarian economy under a Currency Board Arrangement the tax policy impacts the real growth in the standard Keynesian manner. On the other hand, the expenditure policy exhibits non-Keynesian behavior on the short-run output: cuts in government spending accelerate the real GDP growth. The main determinant of this outcome is the size of the discretionary budgetary changes. The results imply that the balanced budget rule improves the sustainability of public finances without assuring a growth-enhancing effect.

scholarly journals Liquidity Synchronization, Its Determinants and Outcomes under Economic Growth Volatility: Evidence from Emerging Asian Economies

Risks ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 43
Author(s):  
Syeda Hina Zaidi ◽  
Ramona Rupeika-Apoga
Keyword(s):  
Economic Growth ◽  
Emerging Markets ◽  
Interest Rates ◽  
Emerging Market ◽  
The Philippines ◽  
Country Level ◽  
Market Index ◽  
High Inflation ◽  
Asian Emerging Markets ◽  
Growth Volatility

This study investigates the country-level determinants of liquidity synchronization and degrees of liquidity synchronization during economic growth volatility. As a non-diversifiable risk factor, liquidity co-movement shock spreads market-wide and thus disrupts the overall functioning of the financial market. Firms in Asian markets operate in legal and regulatory environments distinct from those of firms analyzed in the previous literature. Comprehensive analyses of liquidity synchronicity in emerging markets are limited. A major knowledge gap pertaining to Asian emerging markets serves as the primary motivation for this study. Seven Asian emerging economies are selected from the MSCI emerging market index: Bangladesh, China, India, Indonesia, Malaysia, Pakistan and the Philippines for analysis from 2010 to 2019. The empirical findings show high levels of liquidity synchronicity in weaker economic and financial environments with low GDP growth, high inflation and interest rates and underdeveloped financial systems taking the form of low levels of private credit. Liquidity synchronicity is also affected by poor investor protection, political instability, weak rule of law and government ineffectiveness. Moreover, levels of liquidity synchronicity are higher in a period of economic growth volatility.

Is High Inflation Here to Stay in the UK?

2013 ◽  
Vol 37 (3) ◽  
pp. 5-16
Keyword(s):  
High Inflation ◽  
The Uk
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