"Scientific research" Almanac

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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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  ESTABLISHMENT OF THE BULGARIAN NATIONAL BANK AS A CENTRAL BANK

  The establishment of the central bank and banking system in our country began in the late XIX century, after the liberation from Ottoman rule. In its 120-year-old history Bulgarian banking has experienced many ups and downs to reach its current state. This study will focus on the establishment and recognition of the Bulgarian National Bank as a ... The establishment of the central bank and banking system in our country began in the late XIX century, after the liberation from Ottoman rule. In its 120-year-old history Bulgarian banking has experienced many ups and downs to reach its current state. This study will focus on the establishment and recognition of the Bulgarian National Bank as a central and issuing bank.

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  OFFSHORE ZONES – PLACES FOR IMPLEMENTING CRIMINAL INITIATIVES OR ECONOMICALLY JUSTIFIED INVESTMENTS

  An intensive dispute about the role of the offshore zones in modern global economy is taking place among researchers, politicians and financial specialists. What are the reasons for investors to transfer their savings to such offshore zones – are they motivated by economic reasons or are they just realizing their criminal intentions using the ... An intensive dispute about the role of the offshore zones in modern global economy is taking place among researchers, politicians and financial specialists. What are the reasons for investors to transfer their savings to such offshore zones – are they motivated by economic reasons or are they just realizing their criminal intentions using the offshore status? According to Zhixiang Sun investors will transfer their savings to offshore zones until the ratio between return in the home country towards return in the offshore zone is higher than the ratio between unity minus the tax rate in the home country and unity minus the tax rate in the offshore zone. In our research we calculate these ratios for a US investor towards a possible transfer to 9 Caribbean offshore zones. For all cases we find that there are strong economic reasons for investors to transfer their savings to offshore zones. The same conclusions refer to Bulgarian investors, too. It is only for Panama that we did not find economic reasons.