Отражение на международните стопански кризи върху икономически сектори в България през периода 2008-2017 година

Author(s): Daniela Yordanova / Language(s): Bulgarian Issue: 1/2019

The aim of the present study is to investigate and analyze the impact of international economic crises on the economic sectors in our country. In this connection, the dynamics of the gross value added on the economic sectors in Bulgaria and the impact of the global financial crisis on them are examined. The survey period 2008-2017 is examined. The survey methodology is expressed in an analysis of the change in gross domestic product over the period. A system of absolute and relative metrics is used to measure its rate of change.

Политики и програми за насърчаване на малките и средни предприятия в Европейския съюз

Author(s): Yuliyana Galabinova / Language(s): Bulgarian Issue: 1/2019

European Union policies for small and medium-sized enterprises aim to ensure that Community programmes and activities support small businesses and contribute to making Europe a more attractive place to start businesses. A major priority of the European institutions in recent years has been to improve the business environment, promote an entrepreneurial and job creation climate, and provide easier access to finance and markets for small and medium-sized enterprises (SMEs). In the context of the key role SMEs play in the economic and social development of contemporary Europe, this paper aims to carry out a study of policies and programmes for small and medium-sized enterprises in the Community. The research can contribute to the successful implementation of these policies and programmes in Bulgaria and to support those wishing to start their own businesses.

Modern paradigm in the context of reform of the public authority and administration

Author(s): Slobodan Nešković / Language(s): English Issue: 1/2019

Transition countries and underdeveloped countries in long-term development strategies seek to eliminate evident anomalies and controversies in all spheres of society. There is an urgent need for a radical transformation of all segments of the community at all levels of organization and innovation, modeled on the developed countries of the European Union. The reform of public authority and administration is an essential obligation of relevant subjects in the context of incorporating one's own creation into modern international trends. The new public management is a modern public sector paradigm based on the implementation of the experiences of developed European countries. The focus is on systemic changes in accordance with the specifics of collectivity, the concept of privatization and the commitment to service to citizens. The first role in the reorganization is achieved by the application of information and communication technologies with the introduction of the eGovernment model in all bodies, institutions and companies. These postulates enable the necessary integration, efficiency and prosperity of society in the broadest context.

THE IMPACT OF FISCAL POLICY ON ECONOMY GROWTH

Author(s): Iulia ROȘOIU / Language(s): English Issue: 20/2019

The purpose of this article is to analyze the impact of the fiscal shocks on the economic growth in Romania. Firstly, the article considers the total fiscal shock by using total government revenues and then it studies their structure. Three categories of revenues are used: distortionary taxation, non-distortionary taxation and other revenues. The first estimation is done by using a simple Vector Autoregressive model and the second is based on a Structural Vector Autoregressive model. The results indicate a positive impact if total revenues increase and a negative one when the groups of taxation are considered individually. Among the revenues’ categories, the most significant impact is obtained for distortionary taxation and other revenues.

A tale of two cities:

Author(s): Joshua Olusegun Fayomi,Zainab Abdulqadir Sani / Language(s): English Issue: 01/2020

Seamless communication within and between cities allows for a tremendous increase in efficiencies, one of which is the way work can be done. When work no longer needs to be carried out only within the confines of the traditional office, it can then be done virtually and this research seeks to explore how communication influences the creation of smart economy through virtual work. Virtual work is increasingly becoming ideal for organizations as there is a rise in the quality and quantity of data that can be accessed and analysed from outside the traditional office. Smart city research has shown that has also shown that for cities to be have smart economies there needs to be seamless connection between points of information within such cities.This research begins with a detailed desk research to identify and outline the key indices for smart mobility and smart cities, leading to the proposal of a conceptual framework for evaluating two selected case studies through surveys within these cases. This research therefore builds on prior smart cities and virtual work research to establish a framework for evaluating and explaining the relationship between smart communication and smart economy and established the link between connectivity/communication to mobility, and further shows how the increase in connectivity increase virtual work which in turn leads to a smarter economy. The implications for the results from this research extends the ongoing work been done to increase efficiencies in the connection of infrastructure, human capital and information within cities which is useful to both academics and policy makers alike. The clear relationships established between virtual work and smart mobility and its mediating effect on the development of smart economy is very valuable for academic and practice.

Economic Convergence between the Western Balkans and the New EU Member States (EU-13)

Author(s): Dženita Šiljak,Sándor Gyula Nagy / Language(s): English Issue: 1/2019

The aim of the paper is to investigate if the Western Balkan countries converge towards the new Member States of the European Union, the EU-13. The analysis is focused on beta convergence, defined as a tendency of poor countries to grow faster than rich countries. The analysed period is 2004-2017, with two sub-periods; 2004-2008 and 2009-2013. The subdivision is made in order to test the research hypotheses that the recent financial crisis negatively affected the absolute and conditional convergence process of the Western Balkans towards the EU-13. The relationships between per capita GDP growth rate and selected macroeconomic variables are econometrically tested and the empirical results support the convergence hypothesis. The convergence rates range 1.3%-3.6%. The negative effects of the crisis on convergence are not confirmed, i.e., the convergence rates during the crisis period are the highest among the analysed periods. The poorer countries should open their economies and maintain stable inflation and debt, as economic openness and inflation have a positive impact on per capita growth in the analysed countries, while general government debt has a negative impact.

Capitalul în România postcomunistă [Capital in Post-communist Romania], by Florin Georgescu, Editura Academiei Române, Bucureşti, 2018, 3 vol., ISBN 973-27-2936-6

Author(s): Paul Dobrescu,Mălina Ciocea / Language(s): English Issue: 2/2019

This book is arguably the most comprehensive and detailed analysis of the crucial process of Romania`s post-communist transition. The author defines capital broadly, not just in terms of volume of money, but also as previously produced goods, that

O analiză intersectorială privind răspunsul global, internațional și național la pandemia COVID-19

Author(s): Ionuț Aichimoaie / Language(s): Romanian Issue: 14/2020

While governments and international organizations had more or less prepared plans for a global pandemic, the planning of the accompanying economic shock was much less studied. This paper summarizes research-based policy analyzes and comments on COVID-19 economic measures from international institutions and leading economists. Topics will cover international mechanisms for preventing and combating the effects of the pandemic (trade, capital flows, financial institutions, expectations, etc.), as well as internal impact, such as the size, persistence and sectoral composition of economic instruments. Topics covered also include the impact on political economy, income and inequality, environmental impact, job insecurity, education and research.

Problemy gospodarcze Polski w okresie wojny z bolszewikami – zarys problematyki

Author(s): Aldona Podolska-Meducka / Language(s): Polish Issue: 6/2019

Objective: The article identifies the main economic problems Poland faced as a result of its military involvement in the 1919–1921 Polish-Soviet War. Research Design & Methods: Source material including legal regulations, statistical data and pre- and post-war literature were analysed. Findings: Financing military operations replete with supplies took a tremendous effort, and the consequent hardship was shouldered by all of Poland’s citizens. The situation weighed particularly heavily on rural populations, which were compelled to provide recruits and food for the army and civilians alike. The war ultimately ushered in a period of hyperinflation. Implications / Recommendations: War places a huge burden on state finances. It contributes to a greater state interventionism and imposes various obligations on the citizens. Contribution: The analysis of main problems of Polish economy during the Polish-Soviet War may be used for comparative purposes when studying similar issues in other countries.

КЪМ ЧИТАТЕЛЯ

Author(s): Ivan Roussev / Language(s): English,Bulgarian Issue: 1/2020

Нова медийна икономика: стари и нови предизвикателства пред медийния бизнес

Author(s): Petranka Fileva,Biser Zlatanov / Language(s): Bulgarian Issue: 8/2020

Disruptive media environment applies the creative destruction forces creating new value networks and destroying the incumbent. To write about the new or the old media economics is a speculative idea. In this paper we stick to three key changes or tendencies that impact the behaviour of the media companies: (1) personalization and contextualization, (2) fragmentation, (3) partnership and digitalization. We recognize the need of the elaboration of new value proposition from the traditional media.

Centralny Port Komunikacyjny a bezpieczeństwo rozwoju lotniczych przewozów pasażerskich w Polsce

Author(s): Bogusław Węgliński / Language(s): English Issue: 1/2019

The paper analyzes the passenger aviation market in Poland in the context of plans to build the Central Communication Hub. The structure of air traffic and the threats that stand in the way of an ambitious ruling plan were discussed. The potential of LOT Polish Airlines in relation to competing airlines in Europe (both legacy and LCC) was also analyzed. The author also presented doubts in the context of infrastructure challenges in the development and development of intermodal transport solutions accompanying CPK.

Класифікація економічної злочинності для цілей державного управління в контексті забезпечення державної безпеки

Author(s): Dymytrii Hrytsyshen,Iryna Suprunova,Serhii Lysak / Language(s): Ukrainian Issue: 4 (37)/2020

Classification is a special general scientific method of scientific research, which allows to establish the properties of the object of study both for the purposes of own research and for the purposes of forming new scientific knowledge. The classification model allows you to approach the object of public administration in a complex and take into account all the properties in further research. Classification as a method of study has a dual meaning for the researcher: from the outside, it is a method that contributes to the study of the system and order; from the internal, it is a technique that determines the completeness and correctness of the conclusions of the study. Classification of economic crimes from the standpoint of public administration will fully assess their properties, which determine the level of threat to national security. Economic crime is not a new phenomenon in Ukraine or in the world. Accordingly, the issue of economic crime has interested scientists for quite some time. The article investigates and systematizes the classification of economic crime in scientific and educational literature. Based on the presented approaches to the classification of economic crimes in scientific, reference and educational literature, the directions of their systematization were determined: by general components of economic activity: by violation of principles of economic activity, by sphere of economic relations. by the spheres of public relations that regulate economic activity, by the content of the committed crime, by the way of committing the crime, by the subjective features. The approaches proposed by scientists to the classification of economic crime are mostly determined by criminal law in force in a country, and therefore do not fully meet the objectives of public administration in the context of combating economic crime as a threat to national security. That is why the author's classification model of economic crime was developed for the purposes of public administration. The presented classification model of economic crime allows to approach economic crime as an object of public administration in a complex and to consider all properties at formation of innovative mechanisms of counteraction.

DIGITAL SERVICES AS A TOOL FOR CREATING COMPETITIVE ADVANTAGE IN THE BANKING SECTOR IN NORTH MACEDONIA

Author(s): Viktorija Stojkovski,Blagoj Nenovski / Language(s): English Issue: 1/2021

In the last few years participants of the banking sector in North Macedonia are facing big competition as a result of the increased innovations between these participants. The only way for banks to stay relevant with their operations is to create a sustainable competitive advantage. For an organization to hold out in a competitive environment, it needs to develop competitive strategies. One of the aspects of creating a competitive advantage in the banking sector is creating digital services. These services have a high impact on the banking sector and enable banks to have a competitive advantage in different manners. In addition to a theoretical approach to creating a competitive advantage in the banking sector, we conducted empirical research on how banks in North Macedonia create competitive advantage by offering digital services. This paper aims to describe the end-users attitude on digital banking services as well as the bank’s strategies on creating a competitive advantage by offering digital banking services.

Доброволното пенсионно осигуряване като стратегическо предизвикателство за пенсионния пазар в България

Author(s): Ivanka Deneva / Language(s): Bulgarian Issue: 1/2021

Achieving adequate post-retirement income implies diversification of sources of retirement income and an emphasis on funded insurance schemes. The provision in voluntary defined contribution pension funds is considered as a part of the three-pillar pension model in our country. The article examines indicators outlining its role. Рrerequisites are pointed out and specific measures that will enhance the participation of insured persons and their employers on a voluntary pension plan with a view to more fully utilizing its potential to increase the total income replacement ratio are considered.

Средства за постигане на потребителска лоялност – маркетингов подход с възвръщаемост

Author(s): Nadezhda Dimova / Language(s): Bulgarian Issue: 1/2021

In a world of fast-paced technology and the growing role of digital marketing, the importance of customer loyalty tools included in loyalty programs is increasing. But not only by its very nature as part of customer relationship management, but also through the prism of real return and achieving a sustainable business.

Теоретични основи на изследването на стейкхолдър мениджмънта в българските кредитни кооперации

Author(s): Ivan Boevsky,Krasimir Kostenarov / Language(s): Bulgarian Issue: 1/2021

Cooperatives as organizations seek their identity after the democratic changes in Bulgaria. Credit cooperatives appear to be underdeveloped compared to similar organizations in other countries. This study examines the theoretical concepts of cooperatives as well as the development of a legal definition of cooperatives. The intersection and the difference between the theoretical understanding of cooperatives and the normative definition of them are derived. The basic principles and values of the cooperative are presented, both historically and in the present moment. Various forms of organizational structure of credit cooperatives have been considered and on this basis the stakeholders in the credit cooperative have been identified.

Members’ Satisfaction as Main Element of Sustainable Cooperative Development in Bulgaria

Author(s): Krasimir Kostenarov,Angel Sarov,Ivan Boevsky / Language(s): English Issue: 1/2021

Decades after the establishment of the first modern agricultural cooperative in Bulgaria, we are observing a continuous increase in its number, then we see a decline until nowadays. We identified three historical periods for this development: pre socialism, socialism and post socialism. In periods, when the members’ satisfaction is higher, we notice increasing of the number of cooperatives and vice versa. In each period the relation between members’ satisfaction, cooperative values and principles and existing and operating governance structures differs seriously. This paper is concentrated on reasons for this development and tries to evaluate the influence and application of the governance structure and cooperative values and principles on members’ satisfaction. It our research we argue that the members’ satisfaction is higher when the governance structure of the cooperative fits with the cooperative values and principles. The methodology of the research comprises qualitative and quantitative methods. The qualitative method includes in depth interviews, observations and narrative analysis. We use Analytic Hierarchy Process (AHP) as instrument for quantitative valuation of governance structures according to the cooperative values and principles as a criterion and will use it to measure member satisfaction in each historical period.

Измерване на използваемостта на бета коефициента на капиталовия пазар в България

Author(s): Krasimir Kostenarov / Language(s): Bulgarian Issue: 1/2021

The present study aims to measure the usability of the beta coefficient of companies traded on the Bulgarian capital market over the past 10 years. The last decade has been specific to the Bulgarian capital market. After the two crises on the capital markets in the period, it seems that the capital market has failed to recover to the extent that the markets of other European countries have recovered. For this reason, we want to investigate whether beta coefficient of companies in Bulgaria has sufficient significance and can be used in practice.

Bulgarian Economy and Banking as of Mid–2019: Results and Outlook

Author(s): Emil Kalchev / Language(s): English Issue: 1/2021

The global economic environment is becoming increasingly turbulent and risky – trade wars, trade sanctions, military conflicts, Brexit, over-indebtedness, competing cheap money policies, etc. For an EU peripheral economy and banking sector like the Bulgarian ones, this environment contains many risks and benefits. Thus, the results for the half-year for both economy and banking sector proved to be more favorable than expected before. What are the reasons and what should we expect for the entire 2019? This paper makes a descriptive analysis of the core macroeconomic indicator: the gross domestic product, and examines the contribution of its components on the supply and demand side to the economic growth during the first half of the year. Additionally the dynamics of further key macroeconomic indicators (inflation and unemployment) are briefly outlined. In a parallel line the banking sector is more deeply addressed due to it’s the crucial role in the structure of thecontemporary economy. Extrapolating the influence of the factors revealed in the retrospective analysis and taking into account the expectations of the managers (PMI) in the surveys of the National Statistical Institute the article gives outlook for the development of the economy and the banking sector by the end of the year.