"Scientific research" Almanac

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  TRENDS IN THE DEVELOPMENT OF PROFITABILITY AND RISK PROFILE OF THE BANKING SECTOR IN OUR COUNTRY

  This paper discusses the impact of the financial crisis on the profitability and risk profile of the banking sector in our country. The problem is studied at two levels – at a macroeconomic level (the banking system as a whole) and at a microeconomic level (particular banks). An indicator is derived for a complex binding of profit and risk ... This paper discusses the impact of the financial crisis on the profitability and risk profile of the banking sector in our country. The problem is studied at two levels – at a macroeconomic level (the banking system as a whole) and at a microeconomic level (particular banks). An indicator is derived for a complex binding of profit and risk (risk-weighted profitability), its dynamics is traced and the factors that influence it are outlined.

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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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  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.