Articles

• Ivan Stoykov — Economic Research Institute аt BAS

  BULGARIAN ECONOMY IN THE CONDITIONS OF EUROPEAN INTEGRATION

  Abstract ▾ PDF

  The article examines problems of economic growth in Bulgaria in the context of globalization and EU membership. The typical features of the modern global economy are outlined, estimating the economic situation in Bulgaria. The author's vision is cited of the processes and problems that should be focused on accelerating economic growth.

• Editorial Office

  COST PUSH FACTORS OF BULGARIAN INFLATION

  Abstract ▾ PDF

  The paper studies the behavior of nominal and real wages, average labor productivity, the exchange rate of Bulgarian lev against the dollar, and the world price of oil. It examines the specific parameters of their change in the periods of high and moderate inflation, and outlines the peculiarities of their effects on price fluctuations. It is concluded that an increase in wages serves as a booster of inflation in both periods because of their faster growth rates compared to an increase in the average labor productivity. The second major conclusion drawn is that the depreciation of Bulgarian lev against the dollar is also a source of both high and moderate inflation, and its role is particularly important in extremely high inflation episodes and relatively limited in the period after mid-1997. On the other hand changes in oil prices are manifested as a factor of inflation mainly in the second period, although their effect is sporadic and comparatively smaller than the respective contribution of rising wages and decreasing exchange rate.

• Galya Taseva — Economic Research Institute аt BAS

  Overdue Intercorporate Debts in Bulgaria

  Abstract ▾ PDF

  In the article are presented results of empirical sociological examination of the percent of postponed trade receivables of firms and term of payments delay after maturity of trade credits. There are analyzed the causes for interfirm late payments in Bulgaria and actions that firms undertake as a measures of precaution. There are formulated recommendations for solving the problem with overdue interfirm debts.

• Velcho Stoyanov — University of National and World Economy

  Dissatisfaction from Ultraliberal Market

  Abstract ▾ PDF

  Real socialism has disintegrated by itself, but the dominating super-market capitalism, even libertarian capitalism is also disappointing and dissatisfactory due to two reasons – first, because it gives rise to enormous inequalities, enabling up to 1% of the richest people on the planet to control 95% of the resources; and second, because the market is adequate to the material-body-biological-instinct human nature, but it is incompatible and even hostile to the spiritual human nature, by "barbarizing" and "zoologyzing" him. In order to save man, the neoliberal-libertarian paradigm should be corrected via the "middle (noble) way", to Keynes and the Keynesians, to the Aristotelian "Golden Mean".

• Fanya Filipova — University of Economics – Varna

  Problems in Defining the Essence and Scope of Financial Accounting

  Abstract ▾ PDF

  The focus is on the essence, scope, role and instruments of financial accounting, comparing it with the other part of accounting – the management accounting. The differences between both parts are defined, pointing out the main causes why in the early 1990-ies the accounting in Bulgaria has not been divided in such a way. The essence of financial accounting are also analyzed from the point of view of the discussion on its legal regulations. The statement is backed up that the financial information is an end product of a complicated, multistage, consecutive and unified process – of the accounting. Thus the scope of financial reporting should not be limited to drawing up financial reports.