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Политическата инфлация

Author(s): Ivan Stoychev Vinarov / Language(s): Bulgarian Publication Year: 0

In this report we analyze the phenomenon of “political inflation” through the prism of the classical understanding of the essence of inflation, established in economic science. We define inflation in politics and determine its four possible dimensions. We focused only on the first of these in search of a quantitative measure to measurement the cost (value) of electoral outcomes for mandated positions. The time frame is concentrated on the period of the current political crisis in our country – from 4th April 2021 to 31st December 2023. Finally, we take the view that the only relatively suitable indicator for the proposes of the analysis is the value of the daily allowance for one parliamentary mandate.

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Развитие на българската икономика по критериите за членство в еврозоната

Author(s): Atanas Atanassov,Silvia Trifonova / Language(s): Bulgarian Publication Year: 0

The purpose of the paper is to investigate the extent to which Bulgaria fulfills the Maastricht criteria for membership in the Euro area. The paper is dedicated to the most discussed and current topic in Bulgarian society, namely the accession of Bulgaria to the Euro аrea. Since January 1, 1999, the euro has been introduced in 19 member states of the European Union (EU). Seven of the nine EU member states called “with a derogation”, including Bulgaria, have not yet adopted the single European currency. The research period in the paper is from 2010 to 2021. Structurally, the paper includes an introduction, three parts, a conclusion and a bibliography. The first part of the paper examines the main aspects related to the accession of Bulgaria to the Euro area, the second part describes the methodology used in the study, and the third part describes the achieved results of the research. Finally, the paper ends with a summary of the main conclusions of the analysis.

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Пенсионните фондове във фокуса на зелените инвестиции

Author(s): Milena Beneva / Language(s): Bulgarian Publication Year: 0

Implementation of environmental, social and governance factors into the investment process is often defined as the "new normal" or as a "point of no returns". Europe is a leading region in sustainable and responsible investing and the extremely dynamic EU legislation in this area has the potential to strengthen the leadership role of the continent. Many pension funds incorporate extrafinancial factors into their investment process, convinced that they generate benefits for their members and beneficiaries, as well as for nature. This paper aims to analyze the investment policy of voluntary pension funds in Bulgaria in the context of a sustainable and responsible approach.

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Ефективността на ЕНМ според програмата за оценка на финансовия сектор

Author(s): Milena Pesheva / Language(s): Bulgarian Publication Year: 0

The current paper presents the criteria, which represent the basis of the Financial Stability Assessment Programme, conducted by the International Monetary Fund (IMF). Additionally, the paper analyses the assessment for the Single Supervisory Mechanism (SSM) and the main recommendations of the IMF. The goal of the paper is to present an objective evaluation of the development of banking supervision in the Euroarea, as well as the necessary amendments to increase the effectiveness of the SSM.

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The impact of the COVID-19 pandemic on migration in Europe

Author(s): Judyta Cabańska / Language(s): English Publication Year: 0

Purpose: The COVID-19 pandemic has brought unprecedented restrictions to travel and mobility at global level. Limitations of migration flows resulted in problems in countries with a large share of immigrants on the labor market. The aim of the chapter is to examine the impacts of COVID-19 pandemic on migration flow in Europe. In addition, the impact of changes in migration flows during the COVID-19 pandemic on the labor market in Europe is also presented. Design/methodology/approach: The following research methods were used in the work: cause and effect analysis, statistical analysis of quantitative data, descriptive statistics methods. The analysis used statistical data from Eurostat, Frontex, OECD and the International Organization for Migration (IOM). Findings: From the analysis, it can be concluded that restrictions on migration to Europe contributed to reducing the influx of migrants to EU countries, which was reflected in the situation on the labor market. Increasing labor shortages in critical sectors leads to a slowdown in the post-pandemic recovery of economies. The lifting of pandemic restrictions in 2021 made it possible to partially resume travel. Labor markets have recovered surprisingly rapidly, as vaccination levels have risen markedly and mobility has normalised. Research limitations: The possibilities to determine the impact of restrictions related to the COVID-19 pandemic on migration flows are limited, as the timeliness and frequency of data collection are not sufficient to provide adequate information on this subject. Practical implications: The European Union should support the opening of legal migration channels. Making legal migration more difficult for people in developing countries will encourage more people to attempt irregular migration. It is necessary to pursue an effective immigration policy tailored to the needs of the labor market of EU Member States in conjunction with development policy. During the pandemic, it was possible to observe how much some sectors of the economy are dependent on workers from other countries. Originality and value: This chapter attempts to contribute to the literature on international migration delivering results of analysis of impact of COVID-19 pandemic on the migration flows in Europe.

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Space Geopolitics in 2022

Author(s): Boris Manov / Language(s): English Publication Year: 0

Ever since the dawn of men, there has been a captivation with distant stars and the blue sky. The ideological competition between the two superpowers, the Soviet Union and the United States leads to remarkable discoveries and extraordinary accomplishments in outer space. The culmination of this contest was humanity’s first step on the Moon and the widely accepted American victory against the Soviet Union in the first Space Race. Fifty-three years later, the fascinating nature of outer space still prevails with new participants looking to make their mark and an old competitive nature still driving human progress. The geopolitics of space since the beginning of 2022, have had alternating dynamics, due to various factors, perhaps leading to significant vicissitudes in the balance of power.

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Reforma unii celnej

Author(s): Tadeusz Senda / Language(s): Polish Publication Year: 0

Purpose: The purpose of this study is to present the changes to the EU customs regulations adopted by the European Commission on May 17, 2023. Design/methodology/approach: Author describes the previous and existing customs codifications from 1992 and 2014. Afterwards, he analyses the reasons for undertaking work on the current reform of the customs union and underlines the work of project groups. Finally, the author presents the structure of the new Customs Code, indicating the most important proposed changes. Findings: The provisions reforming the customs union are a response to situations in recent years,such as Brexit, the pandemic, the increased number of tasks of customs authorities resulting from non-tariff regulations and the massive development of e-commerce. Moreover, they are to prepare the customs service for new challenges, including the centralisation of the most important IT systems and the creation of the EU Customs Agency. Additionally, these provisions are intended to ensure the implementation of the principle of acting as one.

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Wiążące informacje jako instrumenty zarządzania ryzykiem celno-podatkowym

Author(s): Edyta Małecka-Ziembińska / Language(s): Polish Publication Year: 0

Purpose: The aim of the chapter is to present and evaluate some of the most important instruments for business to facilitate the submission of customs declarations and minimise the risk of violation, even unconscious, of the calculation elements in customs declarations. Design/methodology/approach: The chapter will first characterise and assess changes in the scope ofissuing binding information in Poland, effective from July 1, 2023. Then, the importance of binding customs information for the certainty and uniformity of application of both customs and tax law willbe presented. In the following, the binding customs information BTI and BOI that are already in forcewill be characterised, and the work on introducing the most difficult of these information—namely binding valuation information (BVI)—will be described.F indings: The simplification and unification of the rules for processing binding information is of a systemic nature. It contributes both to improving the efficiency of issuing such decisions and positively shapes the situation of taxpayers, which serves to deepen the principle of citizen’s trustin tax authorities and legal certainty. Binding valuation information is generally considered to bea more complex area than tariff classification and origin, which may explain the continued lack of such an instrument. Therefore, the progress of work on binding valuation information should be assessed positively. Its implementation will increase transparency and legal certainty and contributeto compliance and uniformity in customs valuation, to the benefit of economic operators, customs authorities and the financial interests of the EU and individual Member States.

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Procedura celna 42 a oszustwa w zakresie VAT

Author(s): Agnieszka Krysztofiak,Dariusz Strugliński / Language(s): Polish Publication Year: 0

Purpose: The purpose of this chapter is to present basic information on customs procedure 42 and VAT fraud using this procedure. The rules of administrative assistance between EU Member States in the field of VAT aimed at combating fraud using customs procedure 42 were also identified and presented. Administrative assistance instruments such as VIES, Eurofisc network were characterised and compared. Finally, the challenges faced by the tax administrations of EU Member States in the combating fraud using customs procedure 42 were presented. Design/methodology/approach: To achieve the purpose, an analysis of legal acts was used, including in particular Council Regulation (EU) No 904/2010 of 7 October 2010 on administrative cooperation and combating fraud in the field of value added tax as well as the documents published by the European Commission and the European Court of Auditors (ETO) and also Olaf, Europol and EPPO. Findings: Based on the analysis, it can be concluded that close cooperation between tax and customs administrations is of great importance for the efficiency of the tax authorities of all EU Member States. The exchange of information between Member States should mainly be based on joint analysis of information and cross-checks of customs and tax information. Such an innovative approach will enable full use of the anti-fraud tools available within the European Union and, consequently, will contribute to faster elimination of VAT fraud using customs procedure 42. Cooperation between countries using the tools described in this chapter is the most appropriate way to combat cross-border VAT fraud using customs procedure 42.

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Европейският съюз в световната икономика. Перспективи за развитие на ЕС в световните икономически и политически организации

Author(s): Valko Dzhankardashliyski / Language(s): Bulgarian Publication Year: 0

In the last 40 years, the world has gone through many dynamic economic processes. The division of the world into two opposing economic and military camps led to a definite change in the understanding of progress in the socialist form of economic development. The transition from one policy of governance to another gave prospects and freedom of choice to the new, young economies. The idea of the EC grew into the unification of the countries of continental Europe into one economic and political union in order to compete with the economies of countries such as the USA, China and various other economic and political unions. Participating in alliances is an old practice that, on a micro scale, has happened relatively easily until today. When we talk about the unification of several countries in order to gain some competitive advantages or advantages in the economy, diplomatic relations or the security of a common territory or border, the conditions for such a process of negotiations and agreements are complicated. Nowadays, the EU competes with the economies and political interests of the US, BRICS, SCO, with some EU countries participating in other alliances such as NATO (not participating but EU members, Austria, Ireland, Malta, Sweden), WTO and others. The report traces the development of the EU and its prospects for development in cooperation with various political and economic unions.

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The Power BRICS Geopolitical Game

Author(s): Karim Naama / Language(s): English Publication Year: 0

The world changes rapidly due to discoveries and innovations in the field of technology. The interests of the BRICS countries and their common goals intersect to move towards new global economy and to lay the foundations of a multipolar international system. In order to accomplish such a goal, the BRICS group faces the challenge of conducting organizational activities. The significance of the ‘five’ countries in the world economy increases with their joint efforts as a geopolitical group. The economic success of the five states ensures their active role in the UN, IMF, WB, WTO. The present study aims at demonstrating how the historical geopolitical change takes place highlighting its real and objective reasons related both to the development of the world economy and the alteration in the structure and fundamentals of international relations in the 21st century with the emergence of new political economic organizations and alliances.

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Europe – Between Culture and Institutions

Author(s): Veselin Vasilev,Todor Belenski / Language(s): English Publication Year: 0

The aim of the report is to stir up academic discussion on the current political determinants in the European Union. Set around the juxtaposition of the two classic texts on whether national economic growth is based on cultural or solely institutional factors – “Does culture affect economic outcomes?” by Guiso, Sapienza, Zingales and “Institutions as a fundamental cause of long-run growth” by Robinson, Acemoglu and Johnson, the report is using the strong polemics of both articles. The report additionally fits examples of national economies across the EU to test the frameworks of both articles and to initiate further discussion.

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Analysis of Production Structure of the Gross Added Value of the CEE and Eurozone Countries

Author(s): Silvia Gospodinova / Language(s): English Publication Year: 0

In the report, the analysis was carried out through a set of indicators that characterize the economic condition and convergence of the CEE countries with the Eurozone. The study covers the period from 2000 to 2022, using official statistical data from Eurostat. The indicators used in the study have been selected on the basis of their importance for the socio-economic development of each country and the EU, and to ensure that the information on this indicators is as complete as possible, i.e. that there are no gaps in some national statistical series.

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Society 5.0 and Its Challenges for the Japanese Business

Author(s): Konstantin Ivanov / Language(s): English Publication Year: 0

The paper deals with humanity’s transition from the machine-centered information-based Society 4.0 to the human-centered “super smart society” Society 5.0 and the impact the new society will have on the Japanese business. Society 5.0 integrates the physical and the virtual space using innovations such as artificial intelligence, the Internet of Things, virtual and augmented reality. Its aim is to alleviate problems related to scarcity of resources, inequality, problems of demographic origin, challenges faced by small businesses. Japan is the country considered to be spearheading humanity’s technological progress, therefore it will also be expected to shoulder the brunt of the challenges of Society 5.0 such as politics, technological integration, and business acclamation.

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Evaluation and Comparison of the SDG Indicators for Albania and Bulgaria

Author(s): Najada Friza,Anisa Bakiu,Dante Mazzitelli / Language(s): English Publication Year: 0

The 2030 Agenda for Sustainable Development was adopted in 2015 by all United Nations Member States to address the need for sustainable development that would address the economic, political and environmental challenges facing our society. This Agenda produced a set of 17 universal goals measured by 169 specific goals. In our work, we aim to highlight the level of these indicators for Albania and Bulgaria, evaluating the differences between the countries and comparing them with the EU-27 (Europe) sustainability indicators, which plays the leading role in the implementation of the SDGs. Although the 2 countries are geographically close and with similar historical paths, our study suggests significant differences due to the influence of various economic and social factors.

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Impact of Sustainable Production on the Development of International Business

Author(s): Alaa Ahmed / Language(s): English Publication Year: 0

This research aims to identify the impact of sustainable production on the development of international business. The research focuses on the global shift towards sustainability and its impact on business in various directions. Analyze the importance of sustainable production in achieving successful and sustainable international business development by building a structural model using the structural modeling method and testing the validity and quality of the models. The impact of sustainable production includes environmental, economic, and social factors, and the development of international business is adopted by attracting customers and investors, product quality and building the reputation of the brand, The research reached a set of conclusions and recommendations and the research hopes that the results and recommendations will contribute to enhancing awareness of the importance of sustainability and encouraging more companies to adopt sustainable production practices in the context of international business.

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Dimensions of Bulgaria‘s Economic Growth and Competitiveness in the Years of the EU Membership

Author(s): Vera Pirimova,Elka Pirimova / Language(s): English Publication Year: 0

The research is focused on one of the main emphasis and some factors of long-term competitiveness highlighted in the European Commission document of March 2023 „EU competitiveness beyond 2030: looking ahead at the occasion of the 30th anniversary of the single market“. The main goal is to analyze the economic growth and the factors of competitiveness outlined by the EC in the field of: scientific research and innovation; foreign trade and openness of the Bulgarian economy. The task of the study is to identify the progress or backwardness achieved by Bulgaria in the years after our country‘s accession to the EU (2007-2022), based on the parameters and the dynamics of the relevant indicators. Traditional methods of analysis and synthesis, empirical descriptive and index analysis are applied in the research.

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An Empirical Study of Perceptions of Investment Plans as Pension Alternatives - Evidence from Bulgaria

Author(s): Miroslav Kamdzhalov,Hristosko Bogdanov,Petya Angelova,Georgi Marinov / Language(s): English Publication Year: 0

Pension systems all over the world, and particularly in Europe, are under tremendous pressure. The global demographic shift toward longer life expectancy and lower fertility is the primary source of tensions on pension systems, with the traditional pay-as-you-go type becoming more questionable in its efficiency. In this study, we explore the perceptions toward this issue in Bulgaria, as well as what are the possible outcomes as results of different actions. Our survey was conducted with an online form, among respondents from Northeastern Bulgaria. We explore primarily the opinions of young people, since we expect them to be the most active and the most strongly concerned in the process. Our findings show the Bulgarian public is still relatively reluctant to newer types of investments.

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Dynamics of the Relationship between Online Purchases and Consumer Income in the European Union

Author(s): Simeonka Petrova / Language(s): English Publication Year: 0

In the digital economy, online purchases are on the rise, seen as an indicator of economic well-being at national and regional levels. The geographic focus of the study is on online purchases and income of individuals from the 27-member states of the European Union. The main goal of the development is to investigate the dynamics of the relationship between online purchases of European consumers and disposable income, and on this basis to arrive at the derivation of corresponding dependencies. The following research tasks are set: interpretation of conceptual interpretations of the determinacy of online purchases by the amount of disposable income; adoption of a methodological framework for analyzing and evaluating the dependence between the variables „consumer spending, including for online purchases - disposable income“; formulating more important generalizations from the research conducted. The measurement of the studied relationship between the variables is carried out using the statistical software for computer processing - IBM SPSS Statistics and the Excel program. The analysis is based on the method of linear regression and correlation. The data refer to the time interval 2013-2021. The results of the study take into account the variation of consumer spending on online purchases while observing the fluctuations in the income of the respondents. The formulated conclusions are useful for characterizing the determinants of the changing behavior of European consumers.

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User Journey Planning for Sales in the European Union by Local Companies

Author(s): Georgi Malchev / Language(s): English Publication Year: 0

The user journey is a pivotal concept in marketing that evolves and adapts amidst technological, economic, and behavioral shifts. This paper aims to present practical models for user journey planning, exploring their influence and subsequent utilization by companies exporting their products. Specifically, it delves into Bulgarian companies and their strategies to plan and implement exports to EU member states. Interviews have been conducted with marketing managers exporting from Bulgaria to the EU. The framework identified in the analysis is employed, detailing the various approaches companies opt for. The paper concludes by outlining areas for further analysis regarding companies’ decisions related to elements of the user journey in international sales.

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