Economic Archive

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  THE OVERALL FACTOR OF ALL GOOD – THE WELL-BEHAVED AND EDUCATED PERSON

  The article deals with the issue set as its title. It is essential for the efficiency of any other activity and our civil behaviour. As it is in many other countries, it could become a reality in our country as well, provided that the central government and private funds spending on science and education grows at a faster rate than the budget ... The article deals with the issue set as its title. It is essential for the efficiency of any other activity and our civil behaviour. As it is in many other countries, it could become a reality in our country as well, provided that the central government and private funds spending on science and education grows at a faster rate than the budget spending in any other aspect and its quality is improved proportionally. This thesis is corroborated through conceptualization of the issue as per its status quo in the current context and explanation of its importance for the overall social development.

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  BULGARIA’S FINANCIAL MARKETS IN AGRIBUSINESS – SIZE, STRUCTURE AND DEVELOPMENT TRENDS

  The aim of the study is to establish the size, structure and financing trends of Bulgaria’s agribusiness. Improving the liquidity and turnover of short-term assets of farms is a goal of paramount importance because it also improves profitability. This necessitates diversification of the sources and instruments to finance the operating capital, ... The aim of the study is to establish the size, structure and financing trends of Bulgaria’s agribusiness. Improving the liquidity and turnover of short-term assets of farms is a goal of paramount importance because it also improves profitability. This necessitates diversification of the sources and instruments to finance the operating capital, such as credits, leasing, factoring, forfeiting, etc. At micro- and macro-level, the provision of information for financial management purposes should be improved to facilitate the access to public and corporate financial markets of short-term and long-term funds for the agribusiness. Public financial markets in Bulgaria’s agribusiness grew steadily from over BGN 1 billion/year during the first reference period of the common agricultural policy of the EU (2007–2013) to BGN 4 billion/year at the end of the 2014–2020 period. They also played an important role in generating reciprocal company financing of over BGN 3 billion/year of over BGN 7 billion/year of all financing in the sector. Structurally, short-term financing accounts for more than 2/3 to 3/4 of all financing.

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  MODEL AND RESULTS OF A STRESS TEST ON PUBLIC FINANCE – ANALYSIS AND COMPARISON WITH THE MODEL OF THE MINISTRY OF FINANCE

  The article presents a model for calculating the production gap to obtain the cyclically-adjusted budget balance (CAB), which is then used to conduct a stress test with the production gap values to track the reaction of CAB in terms of the Impulse-Response Function in EViews.... The article presents a model for calculating the production gap to obtain the cyclically-adjusted budget balance (CAB), which is then used to conduct a stress test with the production gap values to track the reaction of CAB in terms of the Impulse-Response Function in EViews.