How Bulgaria brought an end to hyperinflation

Bulgaria 15 years later

The world has experienced 56 well-documented cases of hyperinflation -- when prices rise by at least 50% in one month. Professor Steve Hanke has been involved in bringing an end to 10 of these hyperinflation episodes -- including Bulgaria's, which peaked at 242% per month, in February 1997. With the installation of a currency board, they stopped Bulgaria's hyperinflation in its tracks.This article from Johns Hopkins’ Studies in Applied Economics, which was earlier published in Bulgarian (Manager Magazine, October 2012), injects some colour into Bulgaria's currency board story. It also contains his proposal to put a stop to Bulgaria's current number-one problem: corruption.

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