Economics 21

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  ECONOMIC UNCERTAINTY AND THE ROLE OF THE INSTITUTIONAL FACTOR IN ITS ANALYSIS

  This article presents an attempt to clarify the understanding of the role played by institutions in relation to economic uncertainty. The aim is to critically analyze and compare the place which this economic phenomenon occupies in neoclassical and institutional analytical models. The need for the introduction of the institutional factor in a ... This article presents an attempt to clarify the understanding of the role played by institutions in relation to economic uncertainty. The aim is to critically analyze and compare the place which this economic phenomenon occupies in neoclassical and institutional analytical models. The need for the introduction of the institutional factor in a highly formalized orthodox neoclassical analysis model is theoretically justified. The conclusion is that, under this condition, economic analysis will be able to produce objective results on the basis of which precise conclusions and correct decisions will be made as regards economic policy

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  TERRITORIAL ASPECTS OF INNOVATIVE DEVELOPMENT: CITIES

  This study discusses the territorial aspect of development through renovation linking it to cities where communication between people, the resultant emergence of problems and prospective solutions are more intensive. The purpose of this study is to achieve a better understanding of what makes a city innovative and what the problems are in ... This study discusses the territorial aspect of development through renovation linking it to cities where communication between people, the resultant emergence of problems and prospective solutions are more intensive. The purpose of this study is to achieve a better understanding of what makes a city innovative and what the problems are in building an innovative city or district. In this context, first, the methodologies for defining, grouping and ranking innovative cities and similar territorial units are characterized. The results of the first comprehensive rankings of innovative cities in the world, Europe and China are presented. The second part of the study is devoted to characterizing debates regarding the European concept for the development of metropolitan areas as innovation centres within the Europe 2020 Strategy. Some ideas for the innovative development of territories in Bulgaria are suggested. The conclusion is that innovative development in a territorial aspect is related to the development of cities and metropolitan areas, which requires regular monitoring, evaluation and well-grounded measures for development, taking into account global good practice.

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  CREATIVITY AND SUSTAINABLE TOURISM DEVELOPMENT

  The article justifies the need for targeted development of destination creativity as a sustainable tourism resource. The economic significance and the way this resource adds value to tourism is outlined. The role of creativity in tourism development is identified on the basis of the systematization of discussions existing in scientific literature ... The article justifies the need for targeted development of destination creativity as a sustainable tourism resource. The economic significance and the way this resource adds value to tourism is outlined. The role of creativity in tourism development is identified on the basis of the systematization of discussions existing in scientific literature and comparisons between creative and traditional forms of tourism. The specifics of tourism demand and supply of creative tourism experiences are consistently analyzed. Specific conclusions are made that could contribute to the sustainable development of tourism in Bulgaria based on the analysis carried out