Issue 7, 2011

The "Economic Metronome" (EM) is a term, used for the mathematical formula of a set of fundamental interrelations of key importance for the monetary-value expression among: the main factors of economical activity of any range; their productivity; the primary proportions in production, distribution, exchange and consumption of the output commodity product; the speeds of development of the activity. The formula is an attempt to design an instrument for more accurate measurement of the potentially possible and the actually achieved efficiency of economical activity, as well as for more reliable forecasting and projecting its further development on the investment-innovative stage.
JEL: B41; B59; C02; C62; D21; E6

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.
JEL: О12; О40; F41

A sophisticated method (technology) to balance the interests of the persons interested in the corporate governance is presented herein. Therefore a general step-by-step concept is worked out and detailed characteristics of the technological stages are provided. The practical requirements and the eventual application of this approach were proven by the approbation in 42 public joint stock companies. Its relevance is illustrated with typical characteristics on the grounds of the elaborated and analyzed balance of interests of the stakeholders in public joint stock companies. It was verified, that the main methodological approach enriches the instruments for interest balancing.
JEL: J53; G20; L23

The problems inherent to the informal economy are dealt and analysed by representatives of various institutions. They are focused by scientists, syndicate leaders, politicians and even by the actors therein. Due to the interrelation between the informal economy and the human factor behaviour an answer should be given to various issues concerning the formal facts and the informal truths about the personality, the motivations for involvement and the conditions, creating a suitable environment for the "gray" economy. The concept of the informal economy as a function of human factor behaviour enables the revelation of the importance of the system of values to motivate a specific conduct. The established link between the informal economy and various forms of behaviour and market discrepancies makes it possible to look for compatible methods and instruments to restrict it.
JEL: E26; L30

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.
JEL: L25; Q12; Q18; Q13

The impact of the foreign economic relations on the new EU member states is studied in this article. Trends of the participation of these countries in the export and the import of goods and services and the reflection of the crisis on the state of the balance of payment are shown. Estimates about the influence of the capital flows and the foreign financing on the economic stability of the newly accepted countries are made. The inflows and outflows of the foreign direct investment are analyzed in relation to the state of the balance of payment as a condition for its stability and defining the reflection of the world fiscal crisis. Conclusions have been made for the sustainability of the region and the opportunities of these countries to use the integration processes in the relations with one another.
JEL: F41; F32; F37

This paper presents youth's situation at the labour market in Bulgaria and existing opportunities for transition to employment. The attention is focussed on increased vulnerability of youth employment in the current period of the crisis and the specific problems faced by young people. From this point of view, the author examines social protection of young people in the field of education and through active and passive policies at the labour market. Requirements for changes are reviewed in the context of the current problems of young people in Bulgaria in terms of labour and social realization, but also in accordance with the strategic documents of the European Commission and the Bulgarian government. Grounds are given for application of an integrated policies approach in favour of young people.
JEL: J21; J64; J68

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.
JEL: С42; D1; J11