Year 2020, Issue 3
Date published6.8.2020
Table of content
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Dimitar M. Ivanov
MACROECONOMIC CHALLENGES AND RISKS POSED BY THE GLOBAL CORONAVIRUS CRISISKeywords: economic crisis, macroeconomics, macroeconomic policies and challenges, sovereign debt, Euro Area, European Union, IMF, globalisation, Bulgaria.Summary: The article presents an analysis of the current global eco¬nomic crisis caused by the coronavirus pandemic in 2020. The author’s objecttives were to define and discuss the characteristics of the current crisis and its external... The article presents an analysis of the current global eco¬nomic crisis caused by the coronavirus pandemic in 2020. The author’s objecttives were to define and discuss the characteristics of the current crisis and its external causes as well as the macroeconomic, financial, institutional and social imbalances in the period after the global financial crisis of 2008 that led to its outbreak. Using this analysis, the author is identifying some longer-term macroeconomic challenges and risks that would deepen and prolong the current crisis as on a global scale as well as in the economies of Europe and Bulgaria. The main thesis to which the author adheres is that although the contemporary crises that occurred in 1929, during the 70s, and in 2008 had typical common characteristics and provided us with valuable lessons to be learnt, each of those crises had its own character and features. Based on this thesis, the article draws attention to the essential critical problems of the global economy in addition to those caused by the coronavirus shock. -
Atanas Damyanov
ECLECTIC VIEWS ON THE CONSEQUENCES OF COVID-19Keywords: biblical proof, graphical representation of the crisis, effects of Covid-19, new environment, digital transformation.Summary: This research, with which we aim to penetrate through the Covid-19 fog, consists of four chapters. In chapter one, very concisely, we identify the consequences of the 2008 crisis. In chapter two, we have searched for biblical... This research, with which we aim to penetrate through the Covid-19 fog, consists of four chapters. In chapter one, very concisely, we identify the consequences of the 2008 crisis. In chapter two, we have searched for biblical proof and philosophical explanations of the pandemic, upgraded with a paradox of the capitalist economic system. We have provided a graphical representation of the impact of the pandemic, different from the “V”, “U”, “L” and “I”- shaped interpretations. Chapter three adopts a thesis by Renaud Girard, but we have also made an independent overview of the weaknesses of three ideologies. Furthermore, we have added to the G-20 recommendation for the restoration of transborder commerce. Chapter four offers a second, author’s variant for graphical representation of overcoming the consequences of the pandemic. It is emphasized that it is not a one-season phenomenon. We have synthesized the damage caused to each sector and profession in the world. We claim that the structure of product range depends on the structure of consumer demand and the changes in the new environment. Therefore, the key word is “Transformation”. These are followed by thoughts and conclusions divided into three major characteristics of the pandemic and four models of human behavior. We propose new organizational and structural changes for the firms, enterprises, and corporations. We argue that management now tends to be based on algorithms, protocols, and economic platforms. -
Venelin Terziev
THE NATIONAL EMPLOYMENT PLAN IN BULGARIA - POLICIES, PRIORITIES AND NECESSARY CHANGES DUE TO COVID-19Summary: The paper comprises two interrelated parts and focuses on the analysis and study of the processes on the Bulgarian market, which unfold in the emergency situation resulting from the COVID-19 pandemics. In the first part, an attempt... The paper comprises two interrelated parts and focuses on the analysis and study of the processes on the Bulgarian market, which unfold in the emergency situation resulting from the COVID-19 pandemics. In the first part, an attempt is made for a systematic analysis of the current national employment plan, its priorities and the needed revisions thereof in the conditions of a critical situation. -
Venelin Terziev
COVID-19 AND THE NATIONAL EMPLOYMENT PLAN IN BULGARIA - ANALYSIS AND OPPORTUNITIES FOR CHANGESummary: This paper is the second part of an extensive study which analyzes and examines the processes on the Bulgarian market that unfold in the emergency situation resulting from the COVID-19 pandemics. The focus is on the state of the... This paper is the second part of an extensive study which analyzes and examines the processes on the Bulgarian market that unfold in the emergency situation resulting from the COVID-19 pandemics. The focus is on the state of the labour market before the pandemic crisis and the subsequent changes in the current national employment plan in view of the challenges of the situation caused by COVID-19. It proposes measures and supports actions for restructuring the financial resource for adaptation of the plan to the new challenge to the labour market in Bulgaria. -
Dimitar Blagoev , Radostin Boyadzhiev
METHODOLOGICAL ASPECTS OF MANAGEMENT OF PORTFOLIOS OF INVESTMENT PROJECTS FOR REAL ASSETS OF BUSINESS ORGANIZATIONSSummary: The article aims to present the potential of the classical portfolio theory and the possibilities for its application in the formation and selection of a portfolio of investment projects for investment in real assets. For this... The article aims to present the potential of the classical portfolio theory and the possibilities for its application in the formation and selection of a portfolio of investment projects for investment in real assets. For this purpose, it reviews and summarizes the views of various authors on key concepts, such as investment, project, investment project, etc. The essential conceptual characteristics of portfolio theory are defined in terms of its methodological and mathematical toolbox and subsequently adapted to a conceptual model (methodological framework) for selection of a portfolio of investment projects for real assets and its optimization according to key criteria set by the management. Finally, its draws conclusions regarding the main advantages and the related constraints of the methodological model.