Economic Archive

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  Current Challenges to the Offshore Business

  Offshore business is such an integral part of the financial sec¬tor that we can hardly imagine the world of money without it. Today we are as accustomed to offshore business as people were to slavery in the 18th and the 19th century when slave labour was considered normal and natural. How¬ever, it goes without saying that just like slavery, ... Offshore business is such an integral part of the financial sec¬tor that we can hardly imagine the world of money without it. Today we are as accustomed to offshore business as people were to slavery in the 18th and the 19th century when slave labour was considered normal and natural. How¬ever, it goes without saying that just like slavery, offshore zones are doomed to gradual decline because they function is parasitic. According to a study conducted by the international confederation Oxfam, offshore companies evade taxes for nearly $ 200 billion each year. In fact about 50% of Russia's assets, 57% of the Arab Emirates’ oil funds, and 30% of Africa's funds are hidden in offshore zones. According to the above report, 1% of the world population now have more wealth than the other 99%. The richest sixty peo¬ple have more money than three and a half billion poor people. Such inequali¬ty is possible only through the cooperation of offshore zones. The US Nation¬al Bureau of Economic Research estimates that about $ 5.6 trillion is kept in offshore zones around the world. This amount represents 8% of the global equity or 10% of the world's gross domestic product.

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  Bank Insolvency – Regulatory Challenges and Empirical Evidence

  Nowadays bank insolvency is a specific field in bank capital management, which requires constant development of the existing regulations and application of new methods and tools for its prevention and early detection. The paper presents a study on bank insolvency in terms of regulato¬ry challenges and empirical evidence for initiation of ... Nowadays bank insolvency is a specific field in bank capital management, which requires constant development of the existing regulations and application of new methods and tools for its prevention and early detection. The paper presents a study on bank insolvency in terms of regulato¬ry challenges and empirical evidence for initiation of bankruptcy proceedings against credit institutions. The research thesis is that bank insolvency is a crisis phenomenon in banking practice whose theoretical modelling, regulatory management and empirical investigation require constant improvement of the regulatory framework and supervisory bodies of the central banking institution. The aim of the study was to perform a critical analysis of the evolution of the regulatory framework related to bank insolvency management using empirical evidence from the banking practice in Bulgaria.

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  Unemployment Benefits in Bulgaria and Their Potential for Prevention of Poverty

  Prevention of poverty and social exclusion is a process directly related to public incentives for vulnerable groups aiming to achieve a decent and independent life. Labour income is one of the main prerequisites for overcoming the problem. However, a large number of the working population is economically inactive and do not even look for forms of ... Prevention of poverty and social exclusion is a process directly related to public incentives for vulnerable groups aiming to achieve a decent and independent life. Labour income is one of the main prerequisites for overcoming the problem. However, a large number of the working population is economically inactive and do not even look for forms of employment. Low education levels, the lack of working habits and the limited demand for skilled labour are objective factors for this. The characteristics of the tax and social security system as well as the state policy with regard to income and the labour market towards vulnerable groups also affect the desire to work and employment opportunities.