Abstract
The chapter describes the peculiar characteristics of the Bulgarian economic system, with reference to the trend of the major macroeconomic variables. In this context, the analysis point out the features of the Bulgarian cooperative credit system, determining its profile based on the type of network taken into consideration and the two different entities: the Central Cooperative Bank Plc (CCB) and the Agriculture Credit Cooperatives (ACCs). The study highlights a substantial fragility of the Bulgarian cooperative system and outlines the hope of a better regulation to support it in the recent contest of EU Cooperative regulation changes.
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Notes
- 1.
The Agricultural and Cooperative Bank, the Biochemical Bank, the Construction Bank, the Economic Bank, the Electronics Bank, the Transportation Bank, and the Transport, Agricultural, and Building Equipment Bank, which was also known as Balkan Bank. Refer to Koford and Tschoegl (2002).
- 2.
By the end of 1995, 65 BGN were needed for a US Dollar. By the end of 1996, 178 BGN were needed for a USD and by the end of 1997, 1674 BGN were required for a USD. Cf., BNB Statistics.
- 3.
The European Funds refer to the Poland/Hungary Assistance for Restructuring Economy (PHARE) Program.
- 4.
At the moment, they are: “Agroimpuls”—Sliven; “Maritsa invest”—Plovdiv; “Doverie”—Dobrich; “Saglasie 96”—Russalya, Veliko Turnovo; “Perelik”—Smolyan; “Solidarnost”—Plovdiv; “Aetos”—Aytos, Burgas; “Mizia”—Pleven; “Pomoriiski stopanin”—Pomorie, Burgas; “Stopanin 1”—Haskovo; “Samokov 96”—Samokov, Sofia; “General Toshevo”—General Toshevo, Dobrich; “Momina voda”—Momchilovtsi, Smolyan; “Kaynardzha”—Kaynardzha, Silistra; “Nadezhda”—Pliska, Shumen; “Smilyan”—Smilyan, Smolyan.
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Cotugno, M., Stefanelli, V. (2016). Bulgarian Cooperative Banking. In: Karafolas, S. (eds) Credit Cooperative Institutions in European Countries. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-28784-3_13
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DOI: https://doi.org/10.1007/978-3-319-28784-3_13
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