"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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  THE TOBIN TAX AND THE SPECULATIVE CURRENCY TRANSACTIONS

  The purpose of this paper is to outline the Tobin Tax ability to solve certain problems related to the instability of financial markets, conditioned by speculative transactions. First proposed in the early 70’s of the 20th century, Tobin’s idea has re-tained its relevance and is still subject of attention both in academic circles and in terms of ... The purpose of this paper is to outline the Tobin Tax ability to solve certain problems related to the instability of financial markets, conditioned by speculative transactions. First proposed in the early 70’s of the 20th century, Tobin’s idea has re-tained its relevance and is still subject of attention both in academic circles and in terms of its practical implementation. Briefly reviewing the unsuccessful experience of Swe-den to introduce its own type of the Tobin Tax, the paper seeks the lessons learned through it and identifies the most significant obstacles and challenges before the finan-cial transactions taxation from financial, political and organizational point of view.

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  CAPITAL MARKETS IN EUROPE – INTEGRATION AS AN ANTI-CRISIS MEASURE

  The leading thesis in this paper is the concept that the development of a unified institutionalized European capital market is a necessity and a mandatory condition for the successful implementation of the EU economic policy, which, however, has not been recognized as a priority by the governing institutions of the Economic Union. Using empirical ... The leading thesis in this paper is the concept that the development of a unified institutionalized European capital market is a necessity and a mandatory condition for the successful implementation of the EU economic policy, which, however, has not been recognized as a priority by the governing institutions of the Economic Union. Using empirical research we prove that the average correlation of the indices of capital mar¬kets within the Euronext system is a bit higher and much more stable than the correla¬tion of the chosen five stock exchanges which are not in the Euronext system. That allows for a conclusion to be made that the degree of capital market integration is higher within the Euronext system than outside it, which may be used as a powerful anti-crisis instrument.