Articles

• Vassil Tsanov — Economic Research Institute аt BAS

  THE WAGE POLICY DURING THE 90’S: CONDITION, EFFECTS, AND LONG-TERM PERSPECTIVE

  Abstract ▾ PDF

  The article does an overall analysis of the income policy during the 90- ties. Because of the fact that income is one of the main macroeconomic stabilising factors, the implemented policy has predominantly restrictive character. The Bulgarian economy entered into a deep and prolonged income crisis, as a result of the restrictions and of the unfavourable internal and external economic environment. The measurements of the income crisis are identified and investigated. The deepness and the scope of this crisis are expressed by a considerable decrease of the real incomes, an increase of the differentiation of earnings, lagging of minimal wages in respect of inflation, formation of unfavourable income structure and others. The economic and social effects are connected with a wide expansion of poverty, decrease of consumption and savings, demotivation of the labour force, a weak dependence of the working salary on economic results, stimulation of the informal economy and others. On this basis, conclusions and proposals for changes of the income policy are made, so as to solve the accumulated problems and answer the challenges of Bulgaria’s accession to the EC.

• Methodi Kunev — University of National and World Economy

  THE TRANSITION TO A MARKET ECONOMY (BACKGROUND, REFERENCE MODELS AND POLICIES)

  Abstract ▾ PDF

  Defined is the concept of transition. Reasoned is the thesis that the transition is neither accidental nor is due to subjective management mistakes. It is objectively determined by the fact that the socialist experiment as a “diversion” from the civilization development doomed to delay the countries from Central and Eastern Europe comparing not only to the economically most developed countries, but to the world. The change is determined also by the forming in the world “new economy” – eco-socially-market, from tertiary-information type, capable to integrate in the world networks. Drawn are the constituting principles and referent models of the newly emerged market economies. They explain why the transition looks like a “conservative revolution”. Made is comparison between the principles, on which the Anglo- Saxon and German-Japanese model lay. Presented is a generalized estimation of the growth of the countries in transition and is outlined the place of the countries (incl. Bulgaria) in the transformation process. Pointed are the reasons for divergence of the countries in transition and is analyzed the significance of the type of the economic policy. Reasoned is the conclusion that our choice should be undoubtedly towards liberalism, combined with the strategic role of the state. Defended is the thesis about the transition as a dualistic process, i. e. about its dirigible and spontaneous character. The both sides provoke conflict of the emerging market logic with the quasi oligarchy way of the change, set in the nature of the transition. Interpreted are some criteria for finalization of the transition.

• Boyko Atanassov

  Todor Nenov

  THE NEW MODEL OF ECONOMIC GROWTH - AN OBJECTIVE REQUIREMENT FOR A PROSPERING BUSINESS

  Abstract ▾ PDF

  This paper substantiates the need for a transition to a new model of economic growth, determined by the levels reached by technology and science, by the challenges and objectives of social development, which necessitate the introduction of an attractive growth-generating policy at macro- and microlevels, corresponding to the abovementioned model. The essential features of the post-industrial growth model are given, namely, competitive, sustained, manageable, continuous, intensive (resource- and cost- efficient) and effective (profitable). A set of methodological tools is offered, including a set of indices indicating the type and nature of growth or decline of the industrial enterprise at microlevel, which would provide the opportunity for a better management of its economic development. Some models and methods are given, meant to optimize the resources reserve, their allocation and utilization with regard to their importance in order to increase the effectiveness of the capital involved and to make production less resource- and capital-intensive.

• Georgi Shopov — Economic Research Institute аt BAS

  THE PENSION REFORM IN BULGARIA – FIRST ASSESSMENTS AND RESULTS

  Abstract ▾ PDF

  A Code for Mandatory Social Security came into power from the beginning of the year 2000. In practice it sets the start of the pension reform in Bulgaria. It is outside the aims and tasks of this article to show the long way of development of the Strategy for Reform of Social Security and of its legislative framework. However the months that passed from the beginning of the reform give the possibility for analysis and assessment of its first results. This is the main aim of this article – to present the assessments of two of the cornerstone sides involved in the pension reform – the population and the experts in this area.

• Rossitsa Chobanova — Economic Research Institute аt BAS

  THE INNOVATION MARKET IN BULGARIA

  Abstract ▾ PDF

  Based on analysis of the results of the carried out observations in Bulgaria the article concludes that in the last years there is a process of continuing bending of the innovation market. The main reasons for this are connected with the delayed transformation of the innovation system of the country from administrative to market innovation demand and supply, with the changed in unfavorable direction international economic environment that is significant for the small and open economies as the Bulgarian. As a suggestion for solving the problem about the innovations market formulated is the necessity of using the experience of the European Union, namely – wide discussion and adopting the national innovation strategy and policy that will coordinate the activities of the main partners in the economic life of the society – the enterprises, the state institutions, the financial and public sector.

• Stefan Petranov — Sofia University St. Kliment Ohridski

  CONCENTRATION OF CAPITAL IN THE PUBLIC JOINT-STOCK COMPANIES, PROTECTION FOR THE INVESTORS AND THE CAPITAL MARKET: 1997-1999

  Abstract ▾ PDF

  In the period 1997-1999 in Bulgaria is imposed a tendency towards concentration of the capital in the public companies. The mentioned factors and carried out analysis give a reason for conclusion that this tendency is provoked by the insufficient protection of the people’s rights and the institutions which provide the firms’ resources. The normative system and the practical law execution in the studied period cannot give sufficient certainty that the resources provided to the firms by their shareholders and creditors are used effectively, in long-term interest of the firms and all shareholders. All this, as well as the passive role of the state, allows the creation of an environment that motivates the personal benefits of the managers or part of the shareholders on account of the firms and the other shareholders. The mentioned weaknesses lead to limitation of the economic growth, trouble the development of the financial markets and the financial mediation, destimulize the insurance institutions and the savings.

• Ekaterina Sotirova — Paisii Hilendarski University of Plovdiv

  EVALUATION AND ANALYSIS OF THE INDEPENDENCE OF THE BULGARIAN NATIONAL BANK FOR THE PERIOD AFTER 1990

  Abstract ▾ PDF

  Studied is one of the primary characteristics in the activity of the contemporary central bank – its independence from the executive power. The objective of the study is to track and analyze the degree of dependence between the behavior of BNB from one hand and the activities of the government on the other hand for two relatively determined periods – 1990-1997 and after 1997. The made quantitative estimation of the independence of the central bank is in applying the popular methodology of Al. Tzukerman. The second part of the article is devoted to the specific for Bulgaria characteristics of forming and keeping the independence of BNB before and after the introducing of the rules of the Currency Board. The complex analysis of the independence shows that it is a necessary condition for macroeconomic stability, but its achieving does not guarantee by itself an economic prosperity.

• Ivan Nikolov

  TWO THESES ON GLOBALISATION

  Abstract ▾ PDF

  The contemporary globalization is connected with radical and global structural changes in all areas of the social activity and in the world as a whole. Some support the thesis that this is a new stage in the development of the capitalism that has no alternative. The article defends the thesis that the contemporary globalization puts the start of the denying (dying) of the capitalism as a society- economic system. Emerged and developed are considerably new social (incl. Production) relations, connected with the computerization, automation, robotization and the predomination of the information production. Dies away the main capital relation between the labor and the capital, formed is a new production dependency between the current knowledge (creative labor) and the memorized (computer) – as a denial of the capital, as a materialized knowledge that can be expropriated and appropriated as a private property. The delusion is in the fact that these essence and rich in content processes are in initial stage of its development and even though a denial of the existing system, they are manifested forced by the inertia of the past, as a movement of the capital and appropriation through the market.

• Ilia /Iliya / Balabanov

  CROSS-HISTORICAL GLOBAL TENDENCY OF INDUSTRIAL DEVELOPMENT

  Abstract ▾ PDF

  Underlined here is that approximately from the beginning of the 80s the economy of the industrial countries entered a qualitatively new phase and model of development. This started the process of radical change in the world economy and in the development of the society in each country. Analyzed are part of the most current questions of the social science in the whole world which besides the pure scientific, they also have a huge practical value for each country, as follows: what necessitated the qualitatively new change; what are the main features and specifics of the emerged model in comparison with the previous; to what more different type of economic activity and society it leads in more long-term horizon; what challenges the model provokes before the society theory and practice today and tomorrow. An attempt here is made to outline and draw the determining characteristics of a global tendency in the industrial development as a basis for more detailed identification of the new economic and social model. Based on this, formulated here are the two most possible historical alternatives for the further development of Bulgaria.

• Marin Marinov — University of National and World Economy

  THE ECONOMIC REFORM IN THE YEARS OF TRANSITION

  Abstract ▾ PDF

  The book of Associate Professor Vasil Manov, Ph.D.* from the University of National and World Economy appeared on the market.

  The author is well known among the science-economist stratum for the particular precision and consistence of his scientific research. Because of this the high quality of his work is not surprising at all.