Munich Personal RePEc Archive

Flashes from the Past: Establishment of the Bulgarian national Bank as Central bank of Bulgaria

Bojinov, Bojidar (2015): Flashes from the Past: Establishment of the Bulgarian national Bank as Central bank of Bulgaria.

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Abstract

The study aims to outline the specifics related with the emergence and development of central banking in Bulgaria. Established in 1879 as an ordinary commercial bank, Bulgarian National Bank experienced a number of ups and downs in its 130 year history. In its evolutionary development, it became a central issue and Bank of Bulgaria in 1928. In the years of socialism, Bulgarian National Bank is experiencing its devolution development to become in the period 1971-1982 in the only bank in country (monobank system). With the transition to a market conomy in 1991, the National Bank again returned to its independence and autonomy. After the banking crisis of 1996-1997, the National Bank began operating in the currency board arrangement.

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