Year 2016, Issue 2
Date published21.12.2016
Table of content
-
Mykhaylo Zveryakov
SEEKING AN EXIT FROM THE CRISISJEL: O10Keywords: crisis, neoclassical theory, Keynesianism, new economic model, distribution of the aggregate added value, economic growth, institutions of modernizationSummary: The theoretical conception of an exit from a crisis, which was proposed by the Nobel Prize winner P. Krugman, and the application of its basic positions in seeking ways to get out of the crisis in developed countries and in Ukraine... The theoretical conception of an exit from a crisis, which was proposed by the Nobel Prize winner P. Krugman, and the application of its basic positions in seeking ways to get out of the crisis in developed countries and in Ukraine are analysed. A peculiarity of the application of Keynes’ theory in the national economy is demonstrated. The necessity of developing an alternative economic model applicable to Ukraine’s economy is substantiated. Some theoretical approaches to the formation of a new economic model based on a change in the current system of distribution of the aggregate added value in favour of an increase in the rate of accumulation as a necessary condition of steady economic growth are proposed. -
Venelin Terziev
THE DEVELOPMENT OF THE LABOUR MARKET IN BULGARIA AND THE IMPACT OF IMPLEMENTED POLICIES REGARDING EMPLOYMENT AND UNEMPLOYMENTSummary: The adequacy and timeliness of an implemented policy are crucial for the effective support of changes in the parameters of the labour market and economic development. Considering the time delay of the effects and changes. its... The adequacy and timeliness of an implemented policy are crucial for the effective support of changes in the parameters of the labour market and economic development. Considering the time delay of the effects and changes. its duration should not be overlooked in order to develop preventive measures for a timely response. Shortening the period in which the effects of the contemporary crisis are transferred on the labour market, respectively labour demand, reflects not only the degree of elasticity of labour demand to primary markets, but also the flexibility of the implemented policies. This fact has focused attention on the flexibility of labour markets and opportunities through its increase to strengthen the mobility and adaptability of the workforce to the dynamically evolving labour demand. Considering the features of economic development and the possible impacts on the labour market is gradually becoming an inseparable part of the policy-making process in the labour market. If, in the early periods of the development of the labour market, policies were aimed primarily at tackling the effects of economic reforms on employment, at a later stage labour market policy has a pronouncedly active character and it is aimed at influencing processes or the formation of behaviour among target groups according to pre-planned targets. The functioning labour market is an adequate mechanism of the market environment and the implemented policy is increasingly based on the existing relationships and interactions between the periods of economic development and the labour market. Regulatory regimes have a certain influence on the development of the basic parameters of the labour market, but overall their impact, and that of the specific policies of the labour market for activation of labour resources, for providing employment and for better labour adaptation of the workforce have effects with limited opportunities towards the balance of labour supply and demand. The policy on the labour market in Bulgaria during the transition period so far has reflected in varying degrees the needs of the economy . In 1990-2000 this policy was built together with the development of the labour market itself and therefore its nature is mainly preventive. After 2000 the policy of the labour market involves more active programmes and activities that reflect more adequately the changes in the macroeconomic environment and the periods in the economic development. Overall, however, the active policy has a minor and a temporary role in supporting employment and cannot replace investment activities to create jobs. Economic development is crucial for supply and demand in the labour market and for its balance in the different periods of development. -
Irena Misheva
ENVIRONMENTAL INSURANCE – A PART OF RISK MANAGEMENT IN ENTERPRISES UTILISING HAZARDOUS PRODUCTIONKeywords: environmental insurance, environmental risk of a technogenic nature, risk management, environmental management, environmental insurance audit.Summary: This study focuses on the problems related to the management and regulation of environmental risks and environmental behaviour in enterprises utilising hazardous production. The main focus is placed on environmental insurance as... This study focuses on the problems related to the management and regulation of environmental risks and environmental behaviour in enterprises utilising hazardous production. The main focus is placed on environmental insurance as part of enterprise risk management. Priority is given to the relationship between insurance and risk management in the management structure of business entities. The relationship between enterprise risk management and other types of management in enterprises with hazardous production in relation to environmental protection is also examined. The author analyses the dynamics in the demand for environmental pollution liability insurance by industrial enterprises. -
Vanya Hadjieva
THE APPLICATION OF THE CONTROLLING CONCEPT AS A MODERN MANAGEMENT TOOLKeywords: controlling concept, macroeconomic factors, microeconomic factors, organization, management, management toolSummary: Effective governance is a major challenge for today’s managers. The management process is a dynamically changing phenomenon that is dependent on many and varied factors and influences. The controlling concept is a dynamic tool that... Effective governance is a major challenge for today’s managers. The management process is a dynamically changing phenomenon that is dependent on many and varied factors and influences. The controlling concept is a dynamic tool that can comprehensively optimize the management of all hierarchical levels in various governance structures. -
Milen Velushev
THE PROBLEM WITH ECONOMIC GROWTH IN BULGARIA: CAN FOREIGN DIRECT INVESTMENT HELPKeywords: catch-up growth, GDP components, foreign direct investment, government spending, economic institutionsSummary: The Bulgarian economy has consistently ranked as one of the last among the EU countries regarding national competitiveness and factor productivity. Currently, its growth is modest and cannot qualify as a catch-up. A number of... The Bulgarian economy has consistently ranked as one of the last among the EU countries regarding national competitiveness and factor productivity. Currently, its growth is modest and cannot qualify as a catch-up. A number of analyses have been dedicated to this topic, the results indicating various qualitative and quantitative factors or their aggregates as the cause for this lagging behind. This paper is an attempt to find out whether net foreign direct investment can help to improve the economic growth in Bulgaria. The analysis by Granger regarding the causality relationship between the GDP components and foreign direct investment inflows makes it clear that FDI affects not only government spending, which suggests that they cannot cause a change in the political institutions that determine the economic institutions. In short, at present foreign direct investment cannot be considered a source of economic growth due to the lack of investment in strengthening the market mechanisms by government.