"Scientific research" Almanac

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  THE IMPORTANCE OF FINANCIAL DERIVATIVES IN A PHASE OF FINANCIAL UNCERTAINTY AND GLOBAL RECESSION

  The scale of the importance of financial derivatives can be judged by many indicators, including: extremely fast and versatile development; the sum of outstanding positions in derivatives, which transitory value exceeds from 6 to 10 times the gross annual production of all economies in the world; the attractive income opportunities and unique ... The scale of the importance of financial derivatives can be judged by many indicators, including: extremely fast and versatile development; the sum of outstanding positions in derivatives, which transitory value exceeds from 6 to 10 times the gross annual production of all economies in the world; the attractive income opportunities and unique techniques for risk management. In the same time, there are extreme opinions in which the financial derivatives are blamed for the global financial crisis and huge losses of various types of market players. The present study attempts to find and outline the real importance of financial derivatives for investment activity and global economy in the period from the beginning of financial crisis and the subsequent economic recession. Analyzed manifestations of financial derivatives in key events in recent years have shown their crucial role in „early diagnosing” of the global economic crisis, and their positive impact on capital market and indirect support to real economic sectors in a phase of recession. The methodology includes correlation study between derivatives, stock market and macroeconomic indicators.

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  SYSTEM OF NATIONAL ACCOUNTS – INSTRUMENT OF MACROECONOMIC ANALYSIS

  SNA is one of the most important instruments of macroeconomic analysis, presenting numerous possibilities for research, modeling and forecasting in the national economy. The study lays out a summary of the contents and new aspects of SNA’2008. The study identifies the ways in which SNA data could and should be used for the purpose of ... SNA is one of the most important instruments of macroeconomic analysis, presenting numerous possibilities for research, modeling and forecasting in the national economy. The study lays out a summary of the contents and new aspects of SNA’2008. The study identifies the ways in which SNA data could and should be used for the purpose of macroeconomic analysis. Development forecasts for Bulgaria have been created on the basis of macroeconomic indicators. The study presents the results of an opinion poll, examining the degree of popularity of SNA among economists and their attitude towards the aspects of its practical application.

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  DETERMINANTS OF ECONOMIC GROWTH IN BULGARIA

  This study focuses on the most prominent theories about modeling economic growth. The factors of economic growth in Bulgaria are studied in terms of econo-metrics. The main determinants of growth are identified and the strength of their impact is measured. The positive multiplier effect of final consumption, gross capital formation, government ... This study focuses on the most prominent theories about modeling economic growth. The factors of economic growth in Bulgaria are studied in terms of econo-metrics. The main determinants of growth are identified and the strength of their impact is measured. The positive multiplier effect of final consumption, gross capital formation, government expenditures on employee compensation, exports and unilateral gratuitous transfers are determined. Opportunities for stimulating economic growth in Bulgaria are analyzed in the short and long run.