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Parameters of Contemporary Financial and Economic Crisis in Bulgaria

Parameters of Contemporary Financial and Economic Crisis in Bulgaria
Author: Garabed Minassian
Publisher: LAP Lambert Academic Publishing
Total Pages: 140
Release: 2014-11-01
Genre:
ISBN: 9783659638022

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Market economic reforms in Bulgaria began with a large-scale redistribution of capital in 1991, followed by a severe banking crisis in 1996. Within 15 months the national currency depreciated 30 times and prices rose 23 times. The situation was favorable for the introduction of a currency board and Bulgarian economy began a new life. However, the accelerated economic growth concealed the accumulation of excessive risks. The 2008 crisis revealed the full extent of cumulative effects. Looking for economic and banking stability the macroeconomic management implemented countercyclical policy measures, but the low demand, poor institutional reforms and uncertainty, both economic and political, was not resolved. Studying the parameters of contemporary economic crisis in Bulgaria the authors answer the following: What are the determinants of economic crisis in a financially stable banking system? How credit institutions transferred the exogenous financial shock to the local economy? What are and how to assess the regulatory measures effectiveness? And finally, is it permissible to speak about the financial and banking stability, provided that economic activity remained unstable?


The Bulgarian Economy

The Bulgarian Economy
Author: Derek C Jones
Publisher: Routledge
Total Pages: 350
Release: 2019-01-22
Genre: Business & Economics
ISBN: 0429790503

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First published in 1997, this volume examines how Bulgaria has been an early starter, but a slow and often erratic mover in the path of stabilization and systemic transition. This book provides a most useful account of the development to date, and of the costs associated with Bulgarian strategy (or lack of), empirical analysis and theoretical reflections, especially in comparison with other transition economies. It will be of great interest to any scholar, official or businessman involved not only with Bulgaria, but more generally with post-communist countries.


Alan S. Milward and Contemporary European History

Alan S. Milward and Contemporary European History
Author: Fernando Guirao
Publisher: Routledge
Total Pages: 613
Release: 2015-10-14
Genre: Business & Economics
ISBN: 1317558324

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Alan S. Milward was a renowned historian of contemporary Europe. In addition to his books, as well as articles and chapters in edited books, he also wrote nearly 250 book reviews and review articles, some in French and German, which were published in journals world-wide. Taken together they reveal a remarkable degree of theoretical consistency in his approach to understanding the history of Europe since the French Revolution. This book brings together these previously unexamined pieces of historical analysis in order to trace and shed light on key intellectual debates taking place in the second half of the 20th century. Many of these discussions continue to influence us today, such as the role of Germany in Europe, the economic, social and political foundations of European integration, the European rescue of the nation-state, the reasons for launching the single currency, the conditions for retaining the allegiance of European citizens to the notions of nation and supra-nation, and ultimately the issue of democratic governance in a global environment. In bringing together these reviews and review articles, the book provides an introduction to the main scholarly achievements of Milward, in his own words. Fernando Guirao and Frances M.B. Lynch provide an introduction to the volume, which both guides the reader through many of the academic debates embedded within the text while underlining their contemporary relevance. By introducing and bringing together this hitherto overlooked treasure trove of historical analysis, this book maps a close itinerary of some of the most salient intellectual debates of the second half of the 20th century and beyond. This unique volume will be of great interest to scholars of economic history, European history and historiography.


Small and medium-sized enterprises in Bulgaria

Small and medium-sized enterprises in Bulgaria
Author: Dimitar Vasilev
Publisher: GRIN Verlag
Total Pages: 78
Release: 2011-10-27
Genre: Business & Economics
ISBN: 3656038295

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Bachelor Thesis from the year 2009 in the subject Economics - Finance, grade: 1,7, Furtwangen University; Villingen-Schwenningen, language: English, abstract: In modern economic conditions, conducting business activity of any kind without availability of debt finance is improbable. The private sector in Bulgaria face the challenge of maintaining sufficient amount of capital to successfully satisfy both working and investment needs. Debt finance products offer an ideal way to satisfy those needs. Small- and medium-sized enterprises are main employment generator and key economic growth factor. They play primarily role in forming both GDP and Value Added of the country. However, SMEs have experienced a vast amount of economic and social problems. Main problems groups can be brought down to: - Inappropriate business environment for the development of SME (administrative, legal, poorly developed business consulting services and regional business centers etc.) - Insufficient financial assistance Since capital markets in Bulgaria are still underdeveloped and alternative sources of finance are hardly present, bank loans/credit lines along with supplier/customer debt prove to be a primary source of capital for small- and medium- sized enterprises. In a bank-based financial system like Bulgaria, banking system is a key factor of economic growth with a major role in productivity, investment levels, innovation and expectation of entrepreneurs. All those factors explain the importance of the chosen topic on regional and national level. Purpose of this work is to create a comprehensive profile of the SME sector in Bulgaria; to pinpoint and analyze its problems toward access to external capital as well as to evaluate trends and challenges in SME debt finance. Key question on which this work attempts to answer is: What are the trends and challenges in the corporate debt financing sector? In order to get there, specific tasks will need to be accomplished - Creation of a comprehensive profile of the SME sector in Bulgaria and illustration of its growing importance for the national economy. - Evaluation of the supply and demand for debt and determination of potential barriers to limited external finance access for SMEs - Formulating and analyzing trends and challenges of corporate debt financing in Bulgaria [...]


Legal-Economic Institutions, Entrepreneurship, and Management

Legal-Economic Institutions, Entrepreneurship, and Management
Author: Nezameddin Faghih
Publisher: Springer Nature
Total Pages: 293
Release: 2021-04-07
Genre: Business & Economics
ISBN: 3030609782

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The study of dynamics of institutional change in emerging markets are subjects of great interest in contemporary political economy. The dynamics and quality of institutional change can have significant impacts on the long-run performance of economies, economic growth and development of nations, and play a fundamental role in societies. It provides a comprehensive understanding of legal-economic institutions, and sheds light on the way to global peace by producing a better understanding of the dynamics of historical change. Topics range from institutional uncertainty, hybrid market order and labor market institutions, to good governance of institutions and WTO rules as trade institutions, as well as entrepreneurship and institutional change in emerging markets, and the role of modern technologies. This edited volume emphasizes legal-economic institutions, and the role of management and entrepreneurship on dynamics, trends, and implications of institutional change in emerging markets. Presenting research articles by eminent scholars and experts engaged in education and research, who address and discuss the most recent issues in the field, they reveal new insights into the dynamics of institutional change for researchers interested in development of new theories and comparative studies, especially in the era of emerging markets. The book is appealing to a wide range of global audience, can serve as a useful reference work in education and research, offers innovative and productive discussions, and can satisfy scholarly and intellectual interests, regarding institutional development and a broad spectrum of its interactions with functioning of markets and economies.