"Scientific research" Almanac

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  ECONOMIC GROWTH IN TIMES OF CRISIS – MYTH OR REALITY IN THE BSEC COUNTRIES

  The paper presents a study of the economic development of the countries from the Black Sea Economic Cooperation (BSEC) block as an opportunity to assess the rate and pace of their economic development and the opportunities for Bulgaria, Romania and Greece (the EU member-states in BSEC) to develop their growth potential. Especially important (in ... The paper presents a study of the economic development of the countries from the Black Sea Economic Cooperation (BSEC) block as an opportunity to assess the rate and pace of their economic development and the opportunities for Bulgaria, Romania and Greece (the EU member-states in BSEC) to develop their growth potential. Especially important (in times of global financial and economic crisis) is the relation be¬tween the GDP and the ability of free foreign trade economies to establish growth factors. The study focuses on the economic potential within the BSEC in terms of the main trends and growth factors in the BSEC economies. The aim of this study is to provide a critical analysis of the economic development trends of the BSEC countries in terms of identification of key factors supporting economic growth in the 21st century. The study is structured in two parts. The first part presents a comparative monitoring analysis of the trends in the key macroeconomic indicators for the period 2003-2010 in the BSEC countries. The second part presents growth rate models of the BSEC countries in terms of the level of openness of their economies and the dynamics of their export and import flows.

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  SIGNAL PARAMETERS OF SHADOW ECONOMY IN BULGARIA

  The global financial and economic crisis at the beginning of this century resulted in certain cataclysms with destructive effects on the government's financial policy. In-creasing government budget deficits, strikingly inadequate social status and deteriora-tion of the basic macroeconomic indicators measuring the „pulse” of the national and world ... The global financial and economic crisis at the beginning of this century resulted in certain cataclysms with destructive effects on the government's financial policy. In-creasing government budget deficits, strikingly inadequate social status and deteriora-tion of the basic macroeconomic indicators measuring the „pulse” of the national and world economy once again brought forward the issue of the scale of shadow economy. The presence of shadow economy is an indicator for the lack of trust in govern-ment's financial policy and the inefficiency of the national economic policy. At the same time shadow economy practices affect negatively the economic growth, efficiency of labour, competitiveness and the economic and financial policy of the state. In this context, the main goal of the study is to analyze the extent of the shadow economy and the issues related thereto as well as to examine its actual manifestations in Bulgaria and propose measures to mitigate it.

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  STRESS TESTING ISSUES IN THE MODERN BANKS WORK

  The present article provides critical analysis of the existing practice for carrying out of stress-test in the banking sector in our country and abroad. It provides good grounds for accentuating on a number of unsolved or discussion issues, concerning: significance of the stress-tests; scope and periodicity of their implementation; identification ... The present article provides critical analysis of the existing practice for carrying out of stress-test in the banking sector in our country and abroad. It provides good grounds for accentuating on a number of unsolved or discussion issues, concerning: significance of the stress-tests; scope and periodicity of their implementation; identification of the specific risks, with potential negative effects; scenario modelling with specifying key risk parameters (factors), subject of shocking changes; performance of comparative analysis of the methods for implementing stress-tests and outlining of their advantages and disadvantages; specifics of implementation of the so-called „reverse” stress-tests, etc.