Issue 3, 2007

This paper addresses the pattern of structural change in selected transition and developed economies in Europe both from the point of view of a national economy and from cross-country perspective as well. It uses cross-industry country data at 2 and 3-digit level of the NACE classification to examine structural changes in the manufacturing industry in the second half of the 90's. To asses the structural change the paper proposes a decomposition of productive efficiency into macroeconomic, or pro-cyclical component and "structural effect" component, based on two-error component model of unobservable effects. Estimation results from panel data models provided empirical evidence for a heterogeneous development pattern with dominating macroeconomic factors in many transition economies and prevailing structural factors in a few countries.
JEL: L60, P20

The present study explores the relationship between a group of shares exchanged in the Istanbul Stock Exchange and inflation, exchange rate and interest rates. In particular, the study aims to uncover the functional and canonical relations between these variables for the purpose of obtaining finding that would inform investors and speculators in their decision making.
JEL: C49

In the working out from theoretical point of view are considered and interpreted the main principles of Guanxi as a reverberation of the Relationship marketing in the context of the Chinese community. Especially it is taken into consideration the social-ethic philosophy and the economical rationality of that specific cultural phenomenon. It is done comparative characterization between the Relationship marketing and Guanxi and the opportunities for practical application in the management and in the marketing are deduced.
JEL: M31, L14

The idea about the customer orientation of the business dates back to the middle of the last twentieth century, but it is just nowadays that it is being transformed into mechanisms, strategies, processes. To put it in other words, it is just now that this orientation is undergoing precise definition by the academic authorities and is reviving in the business practice. Thus, as a result of evolution and continuing development, a birth has been given to the concept of CRM (Customer Relationship Marketing). Numerous companies begin to work actively upon the development of strategies concerning the customer relationship management, which has been still performed partially and particularly on a tactic level. Being a relatively new notion, there has not yet been an agreed opinion about what in fact it comprises, what its components are, what factors influence its correct and effective applying.
In the present study the emphasis has been given on the following moments. Firstly, on the basis of the theoretical analysis the history of the origin of this category has been drawn up and the evolution of the marketing theory relative to the idea of the customer orientation of the business has been traced through. Secondly, on the basis of a method from the science metrics an analysis of the titles of the publications in 8 foreign and 5 Bulgarian journals has been conducted and the main dimensions of the range of the CRM category have been figured out. Thirdly, some views on the strategic perspective of the CRM implementation have been presented and commented upon.
JEL: M31

The necessity of development of decisions for combining of the marketing mix elements, and the principle relations between combined elements are analyzed. Models of optimal planning of the combining of the separate marketing mix elements are developed as on the conceptually, so on the specific analytical level. So a precision procedure is created for usage of the separate elements of the marketing as an instrument of the business management, which develops in the range of a planned marketing mix and within the frames of the specific marketing budget.
JEL: C52, M31

The paper elaborates on the problems for construction and estimation of econometric techniques for analysis of labour market in Bulgaria. It is used the econometrics vector autoregressive modeling (VAR). In the model are included and investigated the main indicators that characterize labour market functioning (unemployment, employment, wages, labour productivity and inflation). On the basis of the obtained estimates for the parameters of the model and the impulse response analysis are analyzed the links and relationships among the main variables and their sensitiveness to macroeconomics shocks. The results from the VAR model and impulse response analysis show insignificant relationship between employment, unemployment and wages, which indicates that Bulgarian labour market is less flexible. Bulgarian labour market is sensitive to the labour demand shocks, inflation and technology shocks. Unemployment and employment are most sensitive regarding the effects of the shocks because their levels are changed under the impact of almost all investigated factors.
JEL: C52, C53, J30, J60