Economics 21

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  THE IMPACT OF MARKET, PRIVATE, COLLECTIVE AND HYBRID MODES OF GOVERNANCE ON AGRARIAN SUSTAINABILITY IN BULGARIA

  The specific governance systems in different countries, regions, sectors, etc., are a factor which largely (pre)determines the rate and type of socio-economic development. Despite its tremendous theoretical and practical significance, little empirical research has been conducted in Bulgaria, and south Eastern countries in general, of the dominant ... The specific governance systems in different countries, regions, sectors, etc., are a factor which largely (pre)determines the rate and type of socio-economic development. Despite its tremendous theoretical and practical significance, little empirical research has been conducted in Bulgaria, and south Eastern countries in general, of the dominant governance structures in agriculture and their impact on agrarian sustainability. The aim of this study is to adapt the interdisciplinary New institutional economics and to assess the impact which the different modes of governance (market, private, collective, public and hybrid) have upon agrarian sustainability at the current stage of development of our country. The study first presents the methodology of the research. Next, typical governance modes are identified that are employed by Bulgarian farms of different legal type, size, production specialization, environmental position and geographical location, the impact of those governance modes on agrarian sustainability in its economic, social and environmental aspects. In conclusion, recommendations are made about conducting further research and improving public policies and private governance strategies. Agricultural producers employ various combinations of efficient market, private, collective and hybrid modes of governance in their activity and relationships. The factors and modes which contribute the most to raising agrarian sustainability at this stage are: managers’ confidence and initiatives; economic resources and innovation potential; a short-term profit and gains strategy; price level and dynamics; EU payments per area, and informal agreements. The research of the relationship between governance structures and agrarian sustainability should continue further to improve its representativeness and enlarge the scope of the specific modes of governance which farms of different types employ, to assess the impact of institutions upon agrarian sustainability and the effect of governance at different hierarchical levels. The latter, however, requires employing a new type of micro and macro data and close cooperation between different stakeholders.

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  TERRITORIAL DIFFERENCES BETWEEN THE LIVING STANDARDS IN BULGARIAN REGIONS AND DISTRICTS (2010–2017)

  The article reviews differences in the living standard at the level of regions and districts. Living standard is defined and assessed in terms of material living conditions by employing multiple indicators which are grouped in three modules (subject areas): economic development; income and consumption; income inequality and poverty. We employ ... The article reviews differences in the living standard at the level of regions and districts. Living standard is defined and assessed in terms of material living conditions by employing multiple indicators which are grouped in three modules (subject areas): economic development; income and consumption; income inequality and poverty. We employ relevant statistical indicators to measure differences and specific methodology to assess the living standard so that we could rank territorial units according to their distance from the best regional score. The findings of our empirical research of the living standard indicate that: (a) there is a slight trend towards a decrease in the differences between regions, while differences between districts remain the same; (b) there are significant changes in the arrangement of regions and districts according to their scores in the different years of the research; (c) divergent trends are identified in the development of territorial differences measured through the summary scores for the three modules; (d) the living standard has deteriorated in a significant number of the territorial units.

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  SOME CONSEQUENCES OF BULGARIA’S NON-MEMBERSHIP IN THE EURO AREA

  The accession of Bulgaria to the Eurozone has been a problem for 10 years now, and the non-persistent attempts of the Bulgarian governments have faced the organized opposition of the European institutions. The rules for adopting the European currency are known, but they seem unread, and the political interpretation of the full-scale criteria has ... The accession of Bulgaria to the Eurozone has been a problem for 10 years now, and the non-persistent attempts of the Bulgarian governments have faced the organized opposition of the European institutions. The rules for adopting the European currency are known, but they seem unread, and the political interpretation of the full-scale criteria has placed Bulgaria outside the “inner” European club. The deprivation of our country from Eurozone membership has not only social or political, but also financial consequences. The annual losses are significant and the national economy, financial markets and society remain only partially integrated.