Issue 5, 2020

Researches have been conducted on the key organizational prerequisites, elements and features of virtual teams (input elements), the key factors for their effective functioning (processes) and the immediate results of the activity of the virtual structures on the basis of the contemporary models of integration via the so-called input-process-output (IPO) scheme. The goal is to find a common theoretical and methodical basis that combines the fundamental models for the effectiveness of virtual teams. A new conceptual integrative model has been well-argued. The matrix of the input-process-output (IPO) model offers a different approach for transforming multilateral relations and factors into working processes, which is much more difficult to achieve in a virtual team environment than in a traditional hierarchical structure.
JEL: D03; D74; C81

For the purposes of research, the degree of internationalization of business has been divided into two periods – the first covers the seven years before Bulgaria's accession to the EU, and the second period spans almost ten years after the signing of the membership agreement. А system of indicators, which are related to the production of tourist services, their export and the transfer of foreign investments, has been created in order to determine the degree of internationalization of the Bulgarian tourism business. The processes of business internationalization are considered from both a structural and a dynamic point of view, comparing the two periods. Emphasis is placed on the problems and difficulties in the business, as well as on the achievements and traditions in this field.
JEL: P400; Q580; R110

А study of the significant investors in the industrial zones in Bulgaria is conducted. The results of already established and functioning industrial zones are analysed in parallel with an evaluation of investor expectations. The study is not strictly analytical but offers solutions and recommendations with potential to improve the functioning of the industrial zones in the country.
JEL: R12; R30; О1

This study examines the effect of trade policy on Nigeria’s economic growth and uses annual data spanning from 1983 to 2018. The Augmented Dickey-Fuller test revealed that the variables employed have a mixed order of integration (i(0), i(1)). Thereafter, an Autoregressive Distributed Lag (ARDL) technique was employed because it suits the outcome of the pre-estimation test. A cointegration test among the variables was conducted using the ARDL bound test technique. The ARDL estimates showed that the adjusted trade ratio and the price-based variables have a positive impact on the GDP in both the short and the long run. The impulse response function for the estimated ARDL model was computed in order to confirm the accuracy of the Bound testing result. Interestingly, the findings remained robust when the potential effect of the trade policy was accounted for using the impulse response function (IRF) (see the Appendix). The IRF showed dynamically that the GDP responded positively to the trade policy at a higher horizon contrary to the short run estimate, thereby giving more credibility to the result of the ARDL which was being transformed by the IRF. The dynamic responses made it possible to find out that the GDP responded positively and negatively to trade policy, but that the accumulated (long run) effect was positive. The conclusion was reached that in Nigeria the adjusted trade ratio was procyclical while the price-based mechanism was countercyclical throughout the scope of study. The suggestion was made that the policy makers should adopt policies that can promote international trade and innovations, and can shut out any form of black market premium that may cause distortions.
JEL: A01; M27; A82