4,168 research outputs found

    Dual Inflation Under the Currency Board: The Challenges of Bulgarian EU Accession

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    The importance of analysing inflation sources and dynamics in Bulgaria is imposed by (i) the long run process of price and inflation convergence to the Euro area and (ii) by the Currency Board operating in the country. In this study we make an attempt to estimate Balassa - Samuelson (BS) effect in Bulgaria (after the introduction of the Currency Board). The BS explanation of inflation (or dual inflation) has acquired both academic recognition and popularity in practice in the recent years. The results of our empirical estimation do not provide a robust verification of the existence of BS effect in spite of the observed prerequisites and the accompanying economic indicators interrelations. Actually there are several factors that interfere with the BS effect lying in the wage convergence process in both sectors and others that influence productivity developments in the sectors. This prompts that the price movement in the country has other driving motions – above all wage setting and incomplete price liberalization, other factors productivity, imported inflation (pass trough) and inflation generated by the temporary gaps between money demand and money supply.http://deepblue.lib.umich.edu/bitstream/2027.42/39872/3/wp487.pd

    Instruments for Analysis of the External Environment through the Prism of Self-Managed Work Teams

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    The article studies the specific characteristics of the external environment because they create actual possibilities for the introduction of self-management in the functioning of work teams in the Bulgarian organizational practice. An emphasis is put on the organizational context within which self-managed work teams (SMWT) function. The study also identifies the key instruments integrated in the model of analyzing the external environment in the process of transforming traditional work structures into selfmanaged ones. The article outlines the effects of the direct and indirect environment factors on the various dimensions of SMWT, namely structural characteristics, work and interpersonal processes, etc. The author supports the idea that the sustainable development of the SMWT-concept and the creation of added value for organizations require adequate monitoring of the competitive environment factors (specific microenvironment) and the common environment. This is one of the paradigms of modern management. Changes in the external environment affect the internal integration of the system and vice versa – the damaged internal processes limit the organization’s potential for adapting to the environment

    DEVELOPING LOW-CARBON TOURISM IN PUGLIA: CASE STUDY OF I. ARCHEO.S PROJECT

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    This paper aims to examine the main determinants for developing low carbon tourism in Puglia region, studying the perceptions of a focus group of ca. 60 public and private stakeholders within Interreg project Italy-Croatia named I.-Archeo.S. project; Data were collected during I-Archeo.S itinerary (N=40) and through personal interviews (N=10) in March 2019. Statistical modelling of t-test, varimax rotation as well as Likert- scale was applied to study the factors of influence for tourist behavior and sustainable tourism (i.e. availability of ecological certification, participation in eco-initiatives, interest in typical products, green event awareness etc.). The results reveal that low-carbon travel is becoming the main way to stimulate the development of sustainable tourism in Puglia region. The increasing necessity for ecological knowledge and cultural heritage protection are perceived as significant factors for low-carbon tourism performance. These findings can help stakeholders from tourism and cultural sectors in Puglia region to prioritise resources and services across different seasons. Although the literature identifies dimensions of sustainable tourism, case studies on low-carbon tourism are still sparse. This study, therefore, contributes to expanding this body of knowledge

    THE SUSTAINABLE DEVELOPMENT OF THE BULGARIAN TRANSPORT SYSTEM

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    The paper aims to provide a theoretical overview of the nature of the transport system within the context of sustainable development and to study the framework indicators of the development of freight and passenger transport so as to identify opportunities for improving the infrastructure and applying global practices to the Bulgarian transport sector. The paper therefore provides a theoretical overview of the nature of the transport system and the sustainable development of decision making to overcome spatial disparities between freight and passengers. The effects and indicators of sustainable development of the transport of passengers and freight have been systematized. The research focuses on two major areas and has two main objectives: to ensure high mobility of freight and passengers and to reduce the adverse impact of transport on the environment, in line with the ‘Energy consumption as a percentage of the GDP’ indicator and measured through specific indicators. The study also focuses on two other framework indicators ‘Security and safety’ and ‘Environmental indicators’. The analysis is based on official statistics from Eurostat and the Bulgarian National Statistical Institute. Based on the theoretical overview and the analysis of the empirical data, we have identified local problems as well as opportunities for improving the quality of the transport infrastructure in Bulgaria and adjusting world practices to the situation in Bulgaria in order to contribute to the active implementation of sustainable development ideas to the transport sector in the country

    Applying the architectural approach to the design of a digital platform: the case study of an aviation holding company

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    This article presents an example of effectively applying the architectural approach to the design of a digital platform to aggregate digital services in an industrial enterprise, based on the case study of an aviation holding company. It reviews options for the further design of IT processes to support digital services provided by a digital platform created with the frameworks Cobit 5 and ITIL 3. The architectural models reviewed in the paper are built using the enterprise architecture modeling language ArchiMate. Ke

    PROBABILITY METHODS FOR ASSESSING FINANCIAL RISKS FOR ENTERPRISES

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    The paper reviews methods for risk assessment which could be employed in the financial management of enterprises. The set of methods proposed renders it possible to assess the impact which different risk factors upon the efficiency of implemented projects and the effect of antirisk measures on the financial performance of companies and thus identify the most efficient measures according to the criterion selected for project evaluation

    ESTIMATING BULGARIA’S TRADE BORDERS WITH THE EU AN APPLICATION OF THE EMPIRICAL GRAVITY MODEL OF TRADE

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    We use the empirical gravity model of international trade to evaluate the borders in manufacturing trade between Bulgaria and the European Union (BG-EU). Our results suggest that in 2006 the BG-EU border was quite large and not statistically different from the average border in our sample of 69 countries. As expected, our estimates confirm that the trade border between Bulgaria and the EU members was very large, and much larger than the average sample border, before the collapse of communism. The border fell sharply in the early to mid-90s, but it followed the average sample trend since then. We also document weak asymmetries in the BG-EU border in favor of EU exports to Bulgaria. Our results point to a series of extensions and further analysis

    SMES PERFORMANCE: ANALYSIS OF THE INNOVATION ROLE

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    Today the business environment is characterized by the globalization of markets, rapid technical developments, the reduction of the life of products and activities, the benefits acquired traditionally are no longer assets on which companies can count for develop. Companies must look for new options to diversify their offerings and markets, which contributes to their growth and development and to finding relevant answers to the question of survival that may threaten its continuity. Our paper aims to clarify the determinants of the success of some companies, especially SMEs, by focusing on the links between innovation and the organizational performance of SMEs. So, the purpose of this paper is to explore and better understanding the effects of organizational innovations, process innovations, product innovations, and marketing innovations on the organizational performance of Moroccan SMEs, based on an empirical study covering 3 SMEs operating in three different sectors

    CURRENT TRENDS OF ELECTRONIC COMMERCIAL DEVELOPMENT IN THE WORLD MARKETS

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    The article deals with the features of the e-commerce development in the modern world economy. The article analyzes the interpretation of the term "e-commerce" by various domestic and foreign scientists. The study specified three levels of e-commerce. The article also identifies five major e-commerce features - advertising, product demonstration, transactions, after-sales service, long-term customer relationships. The article demonstrates the main effects of e-commerce on the economy, such as: growing competition, globalization of business spheres, personalization of interaction, reduction of distribution channels, cost savings. The analysis of B2C e-commerce sales volume in the regions of the world during 2012–2017 identified a significant level of the direction development in the Asia-Pacific regio

    Analysing and Forecasting the Debt Burden of the EU Countries: Is There a New European Debt Crisis on the Horizon?

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    The debt crisis which afflicted Europe highlights the weaknesses and instability of the EU member states' financial systems, as well as the inability of their national economies to maintain normal levels of indebtedness. The deteriorating economic environment requires changes in the fiscal policies across Europe. These changes are effected using new financial instruments to raise the necessary funds for implementation of economic reforms in the EU member states. The aim of this study is to analyse the current levels of sovereign debt across the European Union and to forecast their development in the future using specialized econometric software. The results may be used to identify possible future economic shocks in Europe
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