-
APPLICATION OF THE EUROPEAN FREE TRADE AGREEMENTS WITH THIRD COUNTRIES
AND THEIR IMPORTANCE FOR THE POSITION
OF CUSTOMS CONTROL IN BULGARIA
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This ...
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This necessitates the availability of clear technological provisions regarding the issue of proofs of origin by the Union and the verification of such proofs provided by beneficiary countries.
The study aims to assess the feasibility of the free trade agreements between the EU and third countries in our country and thus define and justify the specific characteristics of the customs procedures with regard to the origin of imported goods. This aim has been achieved through:
First. Assessment of the free trade agreements between the EU and third countries in terms of their importance;
Second. Assessment of the relevance of the European free trade agreements for the Republic of Bulgaria;
Third. Discussing the specific characteristics of the main customs procedures for control of the origin of the goods.
The main research thesis is that the provisions of free trade agreements and the related origin of imported goods are the main subject of customs control and, as being such, they have a significant impact on the foreign trade relations of our country.
As a result of the study, the importance of EU free trade agreements with third countries has been justified by the position of the customs control carried out in the Republic of Bulgaria. The foreign trade relations of our country have been analyzed and conclusions have been drawn as to the extent to which the Bulgarian business benefits from the possible customs preferences based on the origin of the goods.
-
EVALUATION OF THE IMPACT OF THE WORLD ECONOMIC CRISIS ON THE REAL ESTATE MARKET IN THE MEMBER STATES OF THE EUROPEAN UNION (ON THE EXAMPLE OF THE REPUBLIC OF BULGARIA AND GREECE)
The analysis of the real estate market has been directly related to the dynamic development of the overall price level in recent years. By focusing on the period 2008-2016, we draw attention to the influence of the two main factors - the accession of Bulgaria to the EU and the impact of the global financial crisis, which reflects most seriously on ...
The analysis of the real estate market has been directly related to the dynamic development of the overall price level in recent years. By focusing on the period 2008-2016, we draw attention to the influence of the two main factors - the accession of Bulgaria to the EU and the impact of the global financial crisis, which reflects most seriously on the sectors of construction, production and services. The focus of this paper is on the real estate market in Bulgaria in parallel with Greece, as a neighboring country that has suffered the harsh economic consequences of the crisis. The main research thesis on which the present study has been built is that the geopolitical and economic shocks on a global and national level are a key factor determining the potential of the real estate market. The main objective is to analyze the state of the real estate market in Bulgaria and Greece. The tasks assigned by the authors are:
- consideration of the main features of real estate markets in Bulgaria and Greece;
- outline the main trends of the real estate market in Bulgaria and other member states from Central and Eastern Europe;
- Investigating the potential for investment in real estate in the member states of the European Union by applying the method of Z. Helving;
- comparative analysis and assessment of the real estate market in Bulgaria and Greece and outlining the trends of its future development.
As a result of the survey a grouping of the European Union countries on indicators for the mortgage market, the real estate market and the economic potential of the countries was carried out. The peculiarities of investments in real estates in the member states of the European Union are distinguished, focusing on the Republic of Bulgaria and Greece and the main factors of the supply and demand for real estate.
-
RELATIONS BETWEEN GOVERNMENT DEBT
AND INVESTMENT ACTIVITY,
A PARALLEL ANALYSIS OF THE PROCESSES
IN BULGARIA AND GREECE
The present study aims at a parallel analysis of investment, and in particular stock exchange activity and government debt, as well as finding a dependency between the dynamics of these processes and highlighting those stock indicators, for which the relationship with the debt dynamics is of greater significance. The study is based on the thesis ...
The present study aims at a parallel analysis of investment, and in particular stock exchange activity and government debt, as well as finding a dependency between the dynamics of these processes and highlighting those stock indicators, for which the relationship with the debt dynamics is of greater significance. The study is based on the thesis of presence of a strong influence with inverse dependence of the debt burden on the investment activity. We also maintain the hypothesis that the sensitivity of capital markets to the dynamics of government debt is stronger than that of the real-sector investments, driven by the nature of indirect investments and the rapid transfer of capital through liquid stock markets. As a theoretical basis of the survey we have set up a systemic methodology for government debt management and highlighted dependencies on key macroeconomic factors. The methodology of the survey includes a selection of the main measures for the structure and burden of government debt and specific indicators, and indicators for analyzing the investment activity. In order to investigate the dependencies between the two processes, we apply specific comparisons between debt and investment indicators, as well as correlation analysis. We analyze in parallel the debt dynamics and the investment activity in the real sector and the stock exchanges in Bulgaria and Greece for the period 2007- 2017. The results show that the activity of both stock exchanges have had a pronounced negative trend since the beginning of the global recession, which has been going on for ten years now. We have established a strong reverse relationship between the Athens Stock Exchange activity indicators and the Greek debt in its structural components. As far as Bulgarian capital market is concerned, these dependencies are less expressed. We have found arguments for a critical negative impact of the debt burden on investment activity in the real sector, expressed by the correlation between debt dynamics and direct investments in the national economy and foreign direct investments. Our hypothesis for a stronger impact of the debt burden on stock exchange transactions than on real sector investments has been confirmed.
