Issue 1, 2016

The behavior of individuals in developing and making group decisions is analyzed in this study. Behaviour options are identified, taking into account different motivating factors, pointing out the advantages and disadvantages of group decisions. Situations are highlighted, where group decisions are appropriate and others, in which they just legitimize a decision, that has already been taken by members of the group.
JEL: D03; D21

The state and the potential for growth of consumer food and drinks market in Bulgaria is discussed. These markets are grouped in three major market segments – traditional retail, modern retail and public alimentation. Their structure and development trends are studied.
JEL: Q13; Q17; L81

In this article, construction of a logistic regression scoring model is presented as a statistical tool to determine the likelihood a borrower to fall into a state of failure. The study is done with Bulgarian real data. The main stages of modeling regression equation are described: sampling data modeling; statistical analysis of the data in terms of quality and completeness; selection of an appropriate logistic regression equation; analysis and evaluation of the performance of the selected regression model. The used data include information about citizens who are borrowers in the banking sector in Bulgaria. The data were processed by means of the statistical software IBM SPSS Statistics v19.
JEL: C25; C52; G21

The article provides an overview of the simulations with a general equilibrium overlapping generations model, which is based on the theoretical setups, developed by Gertler and Grafenhofer et al. The model (BG-OLG) is calibrated for Bulgaria and evaluates the long-term effects of ageing on economic growth and public finance sustainability under different scenarios for the retirement age. On the basis of the model-based simulations, policy recommendations aimed at minimizing the macro-fiscal costs of population ageing are drawn.
JEL: E62; D91; H55; J14; J26

The paper presents review and systematisation of specificities of use of the Tourism Satellite Account, developed by the international tourism organizations as a statistical tool for tourism sector analysis and for determining the influence of tourism upon economies of separate countries and the world economy as a whole. Analytical review of the concept and summary of the suggestions of the Tourism Satellite Account: Recommended Methodological Framework – 2008 for concordance of data on demand and supply in tourism are made. Problems related to the implementation of the National Satellite Accounts in Europe are analysed. Tendencies in the development of the tourism sector in Bulgaria in the period 2008-2013 are analysed and assessed upon data of the National Statistical Institute and the World Travel and Tourism Council.
JEL: L83; O14; O49

The behavior of individuals in developing and making group decisions is analyzed in this study. Behaviour options are identified, taking into account different motivating factors, pointing out the advantages and disadvantages of group decisions. Situations are highlighted, where group decisions are appropriate and others, in which they just legitimize a decision, that has already been taken by members of the group.
JEL: D03; D21

Alexander Gerschenkron was one of the leading economic historians and development economists of the 20th century. His book of essays, Economic Backwardness in Historical Perspective, is one of the most important books ever published in economic history. This text summarizes two of Gerschenkron’s ideas, which have influenced the development theory beyond its originally European contexts: Firstly, the calculation of Sowjet growth rates which were a puzzle in his time. The detected calculation mistakes of the Sowjet economy are nowadays known as the Gerschenkron effect. Secondly, we illustrate some of the aspects of his central theory of economic backwardness for industrialization and catch-up development processes.

The behavior of individuals in developing and making group decisions is analyzed in this study. Behaviour options are identified, taking into account different motivating factors, pointing out the advantages and disadvantages of group decisions. Situations are highlighted, where group decisions are appropriate and others, in which they just legitimize a decision, that has already been taken by members of the group.
JEL: D03; D21