Year 2019, Issue 2
Date published17.4.2019
Table of content
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Abuselidze George
ANALYSIS OF THE FORMATION AND USE OF BUDGETARY POLICIES ENSURING THE SOCIO-ECONOMIC DEVELOPMENT OF TERRITORIAL UNITSKeywords: fiscal policy, state and local budget, intergovernmental relations, forms of financial mechanisms, Georgia.Summary: The main function of the state in nowadays-civilized world is to maintain the macro-economic proportions throughout the country and avoid financial and economic crises in regions that have priority in the formation of the new... The main function of the state in nowadays-civilized world is to maintain the macro-economic proportions throughout the country and avoid financial and economic crises in regions that have priority in the formation of the new economic system in Georgia. The object of the research is the formation and use of Budget policy of Georgia; One of the most problematic places is socio-economic development of territorial units; As a result of the research it is shown that current economic and political system’s radical transformation process, creation of new economic system and ensuring its efficiency, requires mobilization of huge financial resources, which is impossible without proper functioning of the financial mechanism. This in turn requires implementation of sufficient financial and economic policy. The government should take responsibility of supporting financial-economic independence for territorial units. In the future, the proposed forms of financial mechanisms and features of use for the arrangement and territorial integrity of the government. -
Vesselina Dimitrova, Georgi Marinov, Lino Manosperta
DEVELOPING LOW-CARBON TOURISM IN PUGLIA: CASE STUDY OF I. ARCHEO.S PROJECTSummary: 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... 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. -
Todor Nedev
BULGARIA’S INDEPENDENT ENERGY EXCHANGE – POSSIBILITIES FOR RISK MANAGEMENTSummary: This article discusses the urgent problems of the Bulgarian energy market and its slow transformation from state monopoly to free exchange market. The paper aims at elaborating on the specific aspects of energy trading – basically,... This article discusses the urgent problems of the Bulgarian energy market and its slow transformation from state monopoly to free exchange market. The paper aims at elaborating on the specific aspects of energy trading – basically, and in particular, the characteristics and disproportions imposed by the state and the state-owned energy holdings on the Bulgarian market. Ever since its establishment in 2014, the Bulgarian Independent Energy Exchange (BIEE) has adopted the model and rules of the north energy exchange – Nord Pool. The arguments for this choice have not been discussed publicly, but the necessity of a well-functioning energy exchange market and the need of its daily transparent activity, already in Bulgaria as well, are accepted as proven. The functioning and reliability of the Bulgarian stock exchange, however, are still the subject of certain discussions. What could have happened if the Bulgarian stock exchange had adopted the model of the European energy exchange – EEE? -
Ivailo Nikolaev Marinov
TRANS-BORDER EXPANSION IN THE QUICK LOANS SECTOR (PROBLEMS AND SOLUTIONS)Summary: The enterprises operating in the “quick loans” sector are microfinance institutions. Since they are not banking institutions, they need to adhere to more rigid financial management rules both in terms of fund raising and lending,... The enterprises operating in the “quick loans” sector are microfinance institutions. Since they are not banking institutions, they need to adhere to more rigid financial management rules both in terms of fund raising and lending, especially regarding the so called “quick loans” category. The "quick loans" sector is defined as economic activity that, under the terms of the regulatory framework in force, allows a non-banking financial institution to provide unsecured (short-term) loans based on borrower’s income and credit profile and to charge high interest rates and added fees to offset the associated risk. The results of the survey confirm that this sector is a specific segment of the financial services sector that complies with the national regulations and creates a market for financial services that are essentially equivalent to the unsecured short-term bank loans but have profitability and return characteristics that make them competitive to the services offered by commercial banks. The successful of the financial management of these companies is based on their scoring models for assessing the risk of borrower’s default. -
Yulia Nedelcheva
ECONOMIC ASPECTS AND CHARACTERISTICS OF AGE INEQUALITY IN THE NEW REALITYSummary: The aim of article is to present the contemporary development of society and related economic inequality. Emphasis is placed on age inequality due to its economic aspects and characteristics. The main focus of the article is on the... The aim of article is to present the contemporary development of society and related economic inequality. Emphasis is placed on age inequality due to its economic aspects and characteristics. The main focus of the article is on the new reality of economic slowdown and its adverse effect on another contemporary trend – the growing number of retired persons. The results of the study identified a trend which is similar across most EU member states - population aging and inequality of the retired people. Unlike the other member states, old-age inequality in Bulgaria is affected by additional factors, such as the ongoing economic transition, social reforms, and European integration processes.