Showing papers in "Economic Thought journal in 2011"

A Study on Competitiveness of Bulgarian Farms

Abstract: This paper presents the results of a study on competitiveness of Bulgarian farms in the conditions of EU CAP implementation First, it presents a new holistic approach for assessing farm competitiveness taking into account economic efficiency, financial capability, adaptability, and level of sustainability of farms Second, a comparative analysis is made on farms competitiveness of farms in Bulgaria and European Union Third, an assessment is made on economic efficiency and financial capability of farms of different specialization in Bulgaria Next, evaluation is made on level and factors of competitiveness of commercial farms of different type and specialization Finally, an integral assessment is made on competitiveness of farms with different specialization

Market Development of the Bulgarian Economy – Two Decades after the Change

Abstract: SCIENTIFIC LIFE: Information about a scientific conference held on 4-5 November 2010 in Svishtov

Knowledge as Economic Research Object

Abstract: The highlight is the better understanding of knowledge as an economic research object. Therefore the relevant sources are interpreted. It is characterised as an economic category based on types of knowledge important for the economic development. They are matched in dichotomous combinations (such as scientific – daily routine, theoretical – empirical, codified - tacit). The specific characteristics of knowledge as an object of economic research are the personalization, mobility, risk-sensitivity. The common and different facets among information, scientific and technological knowledge are specified. From the historical point of view the experience in statistic monitoring and rating is evaluated systematically, being of vital importance for the economic characteristics of knowledge. The present day issues are focussed. The aspects of the application in practice are discussed in view of the critical review and the systematization of the concepts of a strategy for the socio-economic development.

Household Budget Surveys in Bulgaria (1925 - 2010)

Abstract: The year 2010 is the 85th anniversary of the first survey on the family incomes and expenditures of clerks’ and workers’ households in Bulgaria. This article is dedicated to these first steps made by the General Statistics Directorate in Bulgaria in March 1925 in surveying and publishing the data on the budgets of a total of 1385 households. The foundation of sample surveys on houshold budgets in Bulgaria is laid with this first investigation. In this sense this article is also dedicated to the statisticians working for the creation, development and affirmation of this survey in Bulgaria.

Not Free Emerging of the Free Market – “The Great Transformation ” by Karl Polanyi

Abstract: An attempt was made to sum up the basic socio-economic issues in Karl Polanyi's book “The Great Transformation”, which is less known by the economists in our country. Suggesting an alternative to Marx's market economic analysis at the early stages of establishing and imposing the capitalist social system, this significant work of Polanyi questions at the same time a lot of the postulates of the modern liberal economic doctrines. The study highlights the formation of free market not as a natural process, based on natural human aptitudes, but on the contrary – as forcing a framework of rules, contrary to the traditional social organization of the people.

The Economic Growth and the Conjuncture Cycle in the Keynesian Models

Abstract: The economic growth concepts are founded on the Keynesian and Neoclassical theories and models. This is also the basis for the two key, most applicable alternative methodological approaches for analyzing the main characteristic features and vehicles of growth – the multiplicator – accelerator and the production function respectively. In theory and out of the empiric application of the model constructions it was concluded, that they are highly adaptable, capable to test each growth trajectory – permanent ascending and even, and wavy or cyclic. The Keynesian, Neoclassical and the contemporary growth models could be interpreted on this ground under certain assumptions or they could be further developed as conjuncture cycle models. The focus is on the main trends of the alternative applicability of the Keynesian methodology for growth analysis, in order to deduce opportuntities to study the key indications of unsustainable nature and the conjuncture cyclic trend in GDP dynamics.

The Social Protection of Young People on the Labour Market

Abstract: The position of the young people on the Bulgarian labour market is presented in details, together with the possibilities for easy transfers to their first jobs. The stress is put on the increasing vulnerability of the youth employment in the period of recent crisis and on its specific problems in Bulgaria. The social protection of the young people in the field of education, and as active and passive policies on the labour market is examined from the point of view of the specific youth problems in the country, and from that of strategic documents coming from European Commission and Bulgarian Government. Some policy recommendations are articulated and also the arguments about the need of integrated approach implementation towards young people policies.

“EUROPE 2020” Strategy and Bulgaria's Economic Growth

Abstract: The highlights and targets of “EUROPE 2020” Strategy are presented and scrutinized here, especially the three dimensions of growth – smart, sustainable and inclusive growth and Bulgaria's attitude thereto. The growth factors (sources) in the last two decades are focused, as well as the potential of our country and the efforts to be made to fulfill the strategy and to achieve a long-term economic growth. Some key principal determinants are studied in details, directly related to the set parameters of growth in “EUROPE 2020” Strategy – manufacturing structures, the role of FDI, of exports, R&D costs, etc

Social Equilibrium as a Criterion for Sustainable Development of Public Output

Abstract: The argument is elucidated, that the economic and political entrepreneurs in contemporary societies represent a value, and in this capacity they are protected by institutions, defining their social role in society. Both subjects personify the nature of the main antagonism in modern societies. In the contemporary public production process they could be both in social equilibrium state and in public conflict situation. An algorithm is provided to specify the equilibrium and the trend for any future social activities of the economic and political entrepreneurs. The theoretical conclusions are proven experimentally by means of an assessment of Bulgaria's economy for the period 1997-2008.

The Impact of Foreign Direct Investments on the Economic Development of Bulgaria

Abstract: Issues related to the movement of the foreign direct investments and their impact on the economic development of Bulgaria under the economic crisis are highlighted in this article The period between 1996 - 2009 and the first half of 2010 is analyzed in order to find out the real consequences of the input investment flows and to clarify their influence on the investment activity in Bulgaria

Portfolio Management Efficiency of Bulgarian Investment Funds

Abstract: The portfolio management of the Bulgarian collective investment schemes is the object of this study and the quantitative models and evaluation techniques of the portfolio presentation are the subject thereof. The research aims at analysing the characteristic features of the Bulgarian investment funds in the period between 2007-2010, presenting the data used in the research and the time span, the restrictive conditions and the presumptions for the study as well as its methodology, the empiric results and their analysis. The key inferences and trends for follow-up work on the investigated topic are formulated.

Theoretical Link between the Economic and Financial Crises in Evolution

Abstract: There are arguments, that the theory of financial instability and financial crises has failed to explain why the price and quantity assessment are the most important tools in generating a permanent surplus in the demand for loans and the changes in the level of extended loans; how much the macroeconomic volatility is identified with the financial fluctuations; what is the impact of the monetary policy and whether it is possible to be used for stabilizing the financial systems and the aggregate production; whether the International Monetary Fund could act as a global lender of last resort in order to stabilize the world finances.

Study on the Competitiveness of the Agricultural Farms in Bulgaria

Abstract: This is a presentation of results the competitiveness of the agricultural farms in Bulgaria under the General Agriculture Policy (GAP) of the European Union. A new holistic approach was applied for evaluation of the competitiveness, taking into account their economic efficiency, financial opportunities, adaptability, as well as their sustainability level. A comparative analysis was made of the competitiveness of the agricultural farms in Bulgaria and in the EU. An integral evaluation of the competitiveness of farms, specialized in different fields is revealed.

Static and dynamic market disequilibrium

Abstract: The static and dynamic market disequilibrium are presented as follows: the Edgeworth box is discussed in order to demonstrate the advantage of the role of negotiations on the market to the tatonnament role in the Walrasian static equilibrium model In this context the equilibrium method devised by Marshall is an acceptable solution of the Edgeworth ambiguity The idea of the static disbalance of Edgeworth is substantiated This concept is projected in the dynamic perception of the Walras-X The comment is summed up

Empirical Research on the Banking Efficiency in R. Macedonia

Abstract: An empirical analysis was made of the efficiency of the Macedonian banking system between 2005 – 2009. It was measured under the method of Data Envelopment Approach (DEA), in order to compare the effectiveness of the banks, and to group them according to a relevant criterion. The key aspects are outlining the theoretical and empirical analysis criteria, the bank classification and monitoring the results.

The effect of the milieu and the financial crisis on the economic stability of the EU Member States

Abstract: The impact of international economic relations of the new EU member states are investigated. The trends of their involvement in imports and exports of goods and services are formulated, highlighting the reflection of the crisis on the state of balance of payment. The influence of the capital flows and the external financing on the economic sustainability of the newly member states is evaluated. The inflows and outflows of foreign direct investments are analyzed in view of the balance of payment status as a prerequisite for stability and to determine the effect of the global financial crisis. Conclusions are made on the sustainability of the member states to utilize the integration advantages in their interrelations with other countries and regions.

Assessment methods of the economic efficiency of the farms

Abstract: Two alternative methodological approaches for evaluation of the technical efficiency are compared: the Data Envelopment Analysis – DEA, using linear programming techniques and the Stochastic Frontier Analysis – SFA, being a parametric, econometric approach. The study is based on data on 130 agricultural producers, registered in the South Central and the SE planning regions being member of producer organizations between 2005 and 2008.