"Scientific research" Almanac

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  FREE ZONES AS A TOOL OF STATE ECONOMIC REGULATION

  Free zones emerge at a certain stage in the development of national economy as a new form of interaction in foreign trade and foreign economic relations of a country. Duty free zones are one of the most common types of free zones. The balanced achievement of a variety of goals by creating free zones leads to the conclusion that they can also be a ... Free zones emerge at a certain stage in the development of national economy as a new form of interaction in foreign trade and foreign economic relations of a country. Duty free zones are one of the most common types of free zones. The balanced achievement of a variety of goals by creating free zones leads to the conclusion that they can also be a tool of state economic regulation. Although there are almost all conditions for the development of free zones in Bulgaria, their activities, and hence their importance for our country, are on the decrease. The question arising is how to change that. The following trends in the development of free zones in Bulgaria can be outlined as very important: changing the regulatory requirements for tenants concerning the technological level and type of productions carried out in the free zones; tax incentives for investors; turning the free zones into industrial sites which use new technologies; using the regime approach in creating free zones in Bulgaria; authorizing a state agency to organize, coordinate and monitor the activities of the free zones in the country; and setting priority objectives in the operation of the free zones. This will provide opportunities for identifying the exact location and role of free zones and will make them an effective tool for state economic regulation.

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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.

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  MACROECONOMIC STATE OF BULGARIA AND PROSPECTS FOR DEVELOPMENT OF BULGARIAN ECONOMY

  Bulgaria has managed to reduce the deficit as required according to the excessive deficit procedure and is carrying out a substantial reform aimed at raising the statutory retirement age for both men and women. Despite the progress made by the Government in fulfilling its reform programme, the main challenges facing the country’s policy have ... Bulgaria has managed to reduce the deficit as required according to the excessive deficit procedure and is carrying out a substantial reform aimed at raising the statutory retirement age for both men and women. Despite the progress made by the Government in fulfilling its reform programme, the main challenges facing the country’s policy have remained largely unchanged. Due to the constant increase in unemployment there should be more active reorientation of the active employment policy in order to improve employability. The low educational achievement shows that the provision of quality education faces significant structural barriers. Sustainability and adequacy of the pension system are still not fully guaranteed. The quality of public expenditure, the tax system efficiency and the business environment are suboptimal. Bulgaria is largely dependent on imported energy and its energy market is not fully operational.