Големите предприятия като квазифискални агенти – опитът на някои страни
Big Companies as Quazifiscal Agents – The Experience in Some Countries

Author(s): Peter Gavrailov, Sonya Ivanova, Sevda Tas
Subject(s): Economy, Supranational / Global Economy, Financial Markets, Public Finances
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: Quasi-Fiscal Agents; Quasi-Fiscal Activities; Quasi-Fiscal Operations; Quasi-Fiscal Practise; Government Intervention
Summary/Abstract: This paper reviews the quasi-fiscal operations and the quasi-fiscal agencies in the context of the contemporary economic reality of predominant neoliberalism. Authors outline certain financial operations which could be attributed to quasi-fiscal practices – crediting of a business entity by a state bank with lower interest rates than the market benchmark; approval for derogation of reserve requirements for certain banks which could use this free financial resource for expansion and profit; bank credit ceilings; varying exchange rate offered by the central bank to different companies one of which could receive more favourable offer, to name a few. The research shares experience in Italy and Germany in this regard and concludes with certain advantages and disadvantages of the government intervention.

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