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Please use this identifier to cite or link to this item: http://hdl.handle.net/10506/450

Title: Costs and Benefits of Euro Adoption in Bulgaria
Authors: Ganev, Georgy
Keywords: Bulgaria
Euro Area
Euro adoption
cost-benefit analysis
Issue Date: 31-Mar-2010
Abstract: This study presents a cost-benefit analysis of euro adoption for the case of Bulgaria. Based on a review of existing similar studies for other East European EU member states, it outlines the basic types of potential costs and benefits of euro adoption, and applies them to the specific Bulgarian economic and economic policy context. The most important relevant features of the Bulgarian economy with respect to the analysis are found to be the catching-up status of the country and the currency board arrangement. In this context the study finds that a net benefit of above 15 % of GDP in a 20 year horizon can be expected for Bulgaria due mainly to enhanced capital inflows and to a smaller extent to a boost in trade with the EU and to higher domestic saving in light of enhanced policy credibility. Along the way the study attempts to draw attention to important nuances which may be of relevance for the analysis of euro adoption in Eastern Europe in general.
Description: This is Working Paper D 5.3 for the "FINANCIAL SYSTEMS, EFFICIENCY AND STIMULATION OF SUSTAINABLE GROWTH" (FINESS) project, funded under the Socio-economic Sciences and Humanities, 7th Framework Programme, European Commission
URI: http://hdl.handle.net/10506/450
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