Digital Transformation and Economic Recovery in the Post-Crisis Period : 10th Annual Conference, 18-20 November 2024 : Conference Proceedings
Digital Transformation and Economic Recovery in the Post-Crisis Period : 10th Annual Conference, 18-20 November 2024 : Conference Proceedings
Contributor(s): Bruno Théret (Editor), Diyana Miteva (Editor), Elena Ponomorenko (Editor), Giovanni Pavanelli (Editor), Jean Paul Pollin (Editor), Mihai Mutascu (Editor), Nikolay Nenovsky (Editor), Petar Chobanov (Editor), Yanko Hristozov (Editor), Yannick Lucotte (Editor)
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Business Economy / Management, Economic policy, EU-Approach / EU-Accession / EU-Development, Financial Markets, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: European union; financial development; digital transformation; fiscal policy; digital finance; finances; digital euro; monetary policy; cybersecurity; Central Bank Digital Currency (CBDC); European Central Bank (ECB)
Summary/Abstract: The 10th annual scientific conference of the Monetary and Economic Research Center (MRC) was held from 18th to 20th of November 2024 at the University of National and World Economy (UNWE) in Sofia, Bulgaria. Main accent on the Conference was digital economic challenges and euro acception in Bulgaria. Researchers and professionals from 12 countries took part. The total number of participants was over 400. The present book consists papers in English and Bulgarian languages.
- E-ISBN-13: 978-619-92983-1-2
- Page Count: 210
- Publication Year: 2025
- Language: English, Bulgarian
Идеите и ролята на Лео Пасволски за създаването на Mеждународния валутен фонд преди и по време на Втората световна война
Идеите и ролята на Лео Пасволски за създаването на Mеждународния валутен фонд преди и по време на Втората световна война
(Leo Pasvolsky’s Ideas and Role Before and During WWII in the Founding of the International Monetary Fund)
- Author(s):Mikhail Raev
- Language:Bulgarian
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Political Sciences, Economic policy, History and theory of political science, Financial Markets, Socio-Economic Research
- Page Range:7-19
- No. of Pages:13
- Keywords:Leo Pasvolsky; International Monetary Fund; free trade
- Summary/Abstract:The eightieth anniversary of the International Monetary Fund's establishment during the Bretton Woods conference allows a reflection on the role of Leo Pasvolsky in its creation. After the introduction, using historical and epistemological methods, the article illuminates Pasvolsky's public image in its second paragraph. The following paragraph deals with his life, works and main ideas. The fourth paragraph focuses on Pasvolsky as a planner of the post-WWII global order. Cordell Hull, the Secretary of State, entitled Leo Pasvolsky to establish and supervise various divisions within the State Department from 1939 till the end of the war. The next paragraph focuses on Pasvolsky’s ideas for creating an organization similar to the IMF in the 1930s and early 1940s. The conclusion emphasizes that Pasvolsky regarded the establishment of the IMF, IBRD, and the WTO as part of the UN organizations that aimed to keep the peace between the belligerent countries in WWII.
The Impact of the Combination of Science and Technology and Finance on Economic Resilienceempirical Evidence Based on Quasi-Natural Experiment of "Promoting the Combination of Science and Thechnology and Finance"
The Impact of the Combination of Science and Technology and Finance on Economic Resilienceempirical Evidence Based on Quasi-Natural Experiment of "Promoting the Combination of Science and Thechnology and Finance"
(The Impact of the Combination of Science and Technology and Finance on Economic Resilienceempirical Evidence Based on Quasi-Natural Experiment of "Promoting the Combination of Science and Thechnology and Finance")
- Author(s):Bo Shen, Zihao Wang, Lishuo Guo, Guijun Li
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, Education, Business Economy / Management, Sociology, Economic policy, Developing nations, State/Government and Education, Social development, Sociology of the arts, business, education, Economic development, ICT Information and Communications Technologies, Socio-Economic Research
- Page Range:20-36
- No. of Pages:17
- Keywords:FinTech Economic; economic resilience; level of financial development
- Summary/Abstract:This paper raises the question of whether the difference in the level of financial development will lead to a difference in the implementation effect of the policy of "promoting the integration of science and technology and finance". The study found that the impact of policy on economic resilience is heterogeneous in cities with different geographical locations, political status and educational levels. In the regions with different levels of financial development, the policy of "promoting the integration of science and technology and finance" has different effects on economic resilience.
International Financial Institutions as Cross Point of Several Theories
International Financial Institutions as Cross Point of Several Theories
(International Financial Institutions as Cross Point of Several Theories)
- Author(s):Elitsa Kantardzhieva
- Language:English
- Subject(s):Politics / Political Sciences, Economy, Business Economy / Management, Political Theory, Political economy, Socio-Economic Research
- Page Range:37-46
- No. of Pages:10
- Keywords:international financial institutions; political economy; theories
- Summary/Abstract:The main objective of this report is to identify theories applicable to international financial institutions. In an environment of revolving crises of varying nature, they continue to adapt to events and develop responses on an urgent basis. The intersections between them are found and an independent theory is identified, which defines their essence for their already over 80 years of unusual activity.
The Digital Euro: A Catalyst for Economic Recovery and Digital Transformation in the Post-Crisis Period
The Digital Euro: A Catalyst for Economic Recovery and Digital Transformation in the Post-Crisis Period
(The Digital Euro: A Catalyst for Economic Recovery and Digital Transformation in the Post-Crisis Period)
- Author(s):Antonina Toncheva
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, EU-Approach / EU-Accession / EU-Development, Financial Markets, ICT Information and Communications Technologies
- Page Range:47-66
- No. of Pages:20
- Keywords:digital euro; Central Bank Digital Currency (CBDC); European Central Bank (ECB); monetary policy; financial inclusion; digital transformation; economic stability; payment systems; privacy; cybersecurity
- Summary/Abstract:This paper examines the subject of the digital euro as a central bank digital currency (CBDC) and its role in reshaping the Eurozone's economic and financial ecosystem. The primary object is to evaluate its impact on monetary policy, financial inclusion, and the functionality of traditional banking institutions. The paper’s thesis asserts that the digital euro has the potential to enhance monetary control and accessibility while simultaneously challenging traditional banking structures. By analyzing statistical data, including a reduction of unbanked populations in the Eurozone and potential GDP growth linked to financial inclusion, the paper demonstrates how the digital euro can improve economic efficiency. Furthermore, it highlights risks for banks, such as reduced deposit holdings, and offers solutions like public-private partnerships to mitigate disruptions. These findings underscore the transformative yet challenging nature of implementing a digital euro.
EU AI Act Went Live: Europe Entered Into New Era
EU AI Act Went Live: Europe Entered Into New Era
(EU AI Act Went Live: Europe Entered Into New Era)
- Author(s):Galia Mancheva
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Economic policy, EU-Approach / EU-Accession / EU-Development, ICT Information and Communications Technologies, EU-Legislation
- Page Range:67-75
- No. of Pages:9
- Keywords:artificial intelligence; European Union; regulation
- Summary/Abstract:The present paper aims to analyze the development of Regulation (EU) 2024/1689 and its impact on businesses operating within the European Union. The stages of the regulatory process are systematically outlined, reflecting the significant discourse and modifications that occurred following the initial announcement. A key aspect of the regulation is its risk-based approach to artificial intelligence, which is examined in the context of contemporary risk management principles. The analysis considers the regulation’s implications for different stakeholders, including policymakers, businesses, and technology developers. This study investigates the hypothesis that Regulation (EU) 2024/1689 fosters new opportunities for businesses in the European Union and positions Europe as a global leader in artificial intelligence governance. The research identifies specific economic and technological advancements facilitated by the regulation and discusses its potential to shape the competitive landscape of the IT sector and other industries. By providing a systematic assessment of the AI Act’s consequences, the paper differentiates its contribution from existing research, particularly Mancheva (2022), by focusing on the regulatory implementation phase and its tangible effects on innovation ecosystems.
The Dangers of Policy Focus on Digital Transformation
The Dangers of Policy Focus on Digital Transformation
(The Dangers of Policy Focus on Digital Transformation)
- Author(s):Gordon Kerr
- Language:English
- Subject(s):Economy, Business Economy / Management, Financial Markets, ICT Information and Communications Technologies, Socio-Economic Research
- Page Range:76-83
- No. of Pages:8
- Keywords:digital transformation; FinTech; consumer banking; UK Neobanks; EU Neobanks
- Summary/Abstract:Whilst it is easy and comforting to accept that policymakers widely embrace digital transformation, it is rather important that scrutineers remember the recent near-misses. Consumer Banking, Smartphones, FinTech all provide a host of examples of near-misses, none of which were stopped and or blocked by Regulators. The goal of this paper is to draw readers’ attention to a few experiences which the author has experienced, both in London and Sofia, and to encourage a substantial slow-down of the overall initiative.
Analysis of the Evolution of Income Inequality – Causes and Effects. Comparative Analysis: Romania – EU-27
Analysis of the Evolution of Income Inequality – Causes and Effects. Comparative Analysis: Romania – EU-27
(Analysis of the Evolution of Income Inequality – Causes and Effects. Comparative Analysis: Romania – EU-27)
- Author(s):Mihaela Stoian, George Tuvec, Robert Tudor
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Social Sciences, Economy, National Economy, Business Economy / Management, Sociology, Evaluation research, Social differentiation, Economic development, EU-Approach / EU-Accession / EU-Development, Socio-Economic Research
- Page Range:84-97
- No. of Pages:14
- Keywords:income inequality; Romania; EU-27; economic disparity; fiscal policy; social transfers; comparative analysis; economic growth; social cohesion
- Summary/Abstract:The study analyzes the evolution of income inequality, focusing on its causes and effects, with a comparative perspective between Romania and the EU-27. Using data from Eurostat, OECD, and national statistics, the research identifies key drivers of income disparity, including economic growth, employment structure, fiscal policies, and social transfers. The paper explores the implications of income inequality on economic stability, social cohesion, and sustainable development. By contrasting Romania's performance with EU-27 averages, the study highlights differences in policy effectiveness and provides recommendations for reducing inequality through targeted fiscal and social measures.
Cross-Border E-Commerce, Digital Finance and Economic Resilience
Cross-Border E-Commerce, Digital Finance and Economic Resilience
(Cross-Border E-Commerce, Digital Finance and Economic Resilience)
- Author(s):Shuai Cui, Xiaoran Zhao, Jiaxi Tian, Zixian Zhang
- Language:English
- Subject(s):Economy, Business Economy / Management, Financial Markets, Marketing / Advertising, ICT Information and Communications Technologies, Socio-Economic Research
- Page Range:98-120
- No. of Pages:23
- Keywords:cross-border e-commerce; digital finance; economic resilience; double difference
- Summary/Abstract:This paper uses panel data of 259 prefecture-level cities in China from 2011 to 2022, and applies the double-difference method to explore the specific role and influence path of cross-border e-commerce on the economic resilience of cities. The results show that cross-border e-commerce can enhance urban economic resilience. The mechanism effect shows that cross-border e-commerce enhances the economic resilience of cities by promoting the level of digital financial development, including the breadth of digital financial coverage, depth of use and activity. The heterogeneity study finds that cross-border e-commerce can enhance the economic resilience of cities with higher administrative rank, larger population size and outflow, non-resource-based, non-growth-based and non-mature cities. The findings provide a basis for cross-border e-commerce to promote stable economic development.
Research on the Impact of Digital RMB Cross Border Payment on RMB Internationalization
Research on the Impact of Digital RMB Cross Border Payment on RMB Internationalization
(Research on the Impact of Digital RMB Cross Border Payment on RMB Internationalization)
- Author(s):Xiaopin Liang, Liwei Shang, Siyi Chen
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, Financial Markets, ICT Information and Communications Technologies
- Page Range:121-127
- No. of Pages:7
- Keywords:digital RMB; cross-border payment; RMB internationalization
- Summary/Abstract:With the booming development of digital technology and digital economy, digital RMB has attracted widespread attention in various fields, and whether digital RMB cross-border payment can promote the internationalization of RMB has become one of the current research hotspots. China started the pilot program for RMB cross-border settlement in 2009, and the process of internationalization of RMB has been accelerating. However, there are still many challenges in the process of RMB internationalization, such as the development level of China's financial market, the opening level of capital account and so on. However, through the use of digital RMB for cross-border payments, it can better cope with the difficulties and challenges faced in the process of RMB internationalization. To this end, this paper takes the digital RMB cross-border payment as the guidance and analyzes its impact on the internationalization of RMB.
Research on the Efficiency and Potential of China's Agricultural Exports to RCEP Countries—Based on Stochastic Frontier Gravity Model
Research on the Efficiency and Potential of China's Agricultural Exports to RCEP Countries—Based on Stochastic Frontier Gravity Model
(Research on the Efficiency and Potential of China's Agricultural Exports to RCEP Countries—Based on Stochastic Frontier Gravity Model)
- Author(s):Xinping Fu, Xiying Zhang, Yuxuan Zheng
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Agriculture, Economic policy, International relations/trade, Socio-Economic Research
- Page Range:128-141
- No. of Pages:14
- Keywords:RCEP; agricultural trade; stochastic frontier gravity model; trade potential
- Summary/Abstract:Based on panel data of China's agricultural exports to RCEP member countries from 2006 to2022, this paper constructs a time-varying stochastic frontier gravity model to empirically study the factors affecting the export efficiency of China's agricultural products. The results show that there are significant differences in the trade efficiency of China's agricultural exports to RCEP countries, and the trade potential of different countries is also different; The bilateral population, the economic size of RCEP member countries, the common language, the air cargo volume of the importing country, the degree of government integrity, financial freedom, and whether to join the WTO all have a significant promoting effects on China's agricultural exports; The geographical distance between two sides and the monetary freedom of the importing country will have a negative impact.
Research on Internationalization Docking of China’s Digital Trade Rules
Research on Internationalization Docking of China’s Digital Trade Rules
(Research on Internationalization Docking of China’s Digital Trade Rules)
- Author(s):Zijing Jin, Zipeng Hui, Xiaopei Liu
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, International relations/trade
- Page Range:142-155
- No. of Pages:14
- Keywords:digital economy; digital trade rules; Gaps; international docking
- Summary/Abstract:This article looks at the digital economy and digital trade. The article then looks at how the global and Chinese digital economies are developing. It also points out that digital trade is helping the global economy to grow. The article then looks at the differences between China's digital trade rules and global standards. The article suggests ways to improve digital trade in China. These include making domestic laws and regulations better, joining international digital trade agreements, building digital trade in the "Belt and Road" initiative, and joining high-standard free trade areas. These recommendations are designed to bring Chinese practices closer to international standards.
The Benefits of Digital Transformation for Governments
The Benefits of Digital Transformation for Governments
(The Benefits of Digital Transformation for Governments)
- Author(s):Iana Paliova
- Language:English
- Subject(s):Politics / Political Sciences, Politics, Economy, Business Economy / Management, Governance, Economic policy, ICT Information and Communications Technologies, Socio-Economic Research
- Page Range:156-165
- No. of Pages:10
- Keywords:digital government; public policy and administration; public administration
- Summary/Abstract:EU Member States prioritize during the 2021-2027 programming period. full digitization of public services by 2030 This goal should be met through European and national funding for the development of artificial intelligence and the creation of European interoperable platforms, as well as the promotion of innovation by funding large-scale pilot projects. This report examines the development of digitalisation as a public sector objective to improve the efficiency of public services, the EU's digital connectivity initiatives and the development of digitalisation of public services in Member States, as well as the expected savings for citizens and businesses from using them. The results of the 2023 OECD Digital Government Index are also discussed. and the role of the World Bank GovTech Global Partnership and its implementation in Bulgaria.
How Ancient China Failed to Develop a Credit Money System?
How Ancient China Failed to Develop a Credit Money System?
(How Ancient China Failed to Develop a Credit Money System?)
- Author(s):Shouyi Zhang
- Language:English
- Subject(s):History, Economy, National Economy, Business Economy / Management, Economic history, Socio-Economic Research
- Page Range:166-176
- No. of Pages:11
- Keywords:paper money; money shortage; monetary system
- Summary/Abstract:2023 was the millennium since the birth of the paper money, the Jiaozi, which was issued in Northern Song dynasty. Paper money in China was invented hundreds of years ahead of Western Europe. However, China did not have a credit money system, due to the influx of silver from South America in the 16th century changing the course of history. This paper finds that, behind the "Great Divergence" between East and West, the most neglected answer is from a financial perspective.
The Importance of Monitoring Public Finances. Why Efficiency Matters and How the Population is Directly Affected by the State's Decisions
The Importance of Monitoring Public Finances. Why Efficiency Matters and How the Population is Directly Affected by the State's Decisions
(The Importance of Monitoring Public Finances. Why Efficiency Matters and How the Population is Directly Affected by the State's Decisions)
- Author(s):Seicarescu Lavinia, Naty Stoica, Lorena Strugariu
- Language:English
- Subject(s):Economy, Business Economy / Management, Public Finances, Socio-Economic Research
- Page Range:177-187
- No. of Pages:11
- Keywords:public finances; tax structure; public spending and debt sustainability; public debt; economic vulnerabilities; economy; economic models
- Summary/Abstract:The analysis of public finances in Estonia, Cyprus and Belgium highlights significant differences in the tax structure, public spending and debt sustainability. Estonia stands out for its prudent fiscal policy, with the lowest level of public debt in the EU. Cyprus, hit by the 2013 financial crisis, has implemented reforms to stabilise finances but still faces economic vulnerabilities. Belgium, with a large public sector, has high public debt but benefits from a diversified economy. Taxation is lower in Estonia, attracting investment, while Belgium has higher taxes to support social services. Cyprus adopts a mixed strategy, with favourable taxes for companies. The differences reflect distinct economic models and varying approaches to financial sustainability.
Дигитални финанси
Дигитални финанси
(Digital Finance)
- Author(s):Iliyan Iliev
- Language:Bulgarian
- Subject(s):Economy, Essay|Book Review |Scientific Life, Business Economy / Management, Political Essay, Societal Essay, Financial Markets, ICT Information and Communications Technologies
- Page Range:188-194
- No. of Pages:7
Дигитални финанси
Дигитални финанси
(Digital Finance)
- Author(s):Yoanna Peneva
- Language:Bulgarian
- Subject(s):Economy, Essay|Book Review |Scientific Life, Business Economy / Management, Political Essay, Societal Essay, ICT Information and Communications Technologies
- Page Range:195-199
- No. of Pages:5
Дигитални финанси
Дигитални финанси
(Digital Finance)
- Author(s):Nikolay Yovchev
- Language:Bulgarian
- Subject(s):Economy, Essay|Book Review |Scientific Life, Business Economy / Management, Societal Essay, Financial Markets, ICT Information and Communications Technologies
- Page Range:200-204
- No. of Pages:5
Conference Program
Conference Program
(Conference Program)
- Author(s):Author Not Specified
- Language:English
- Subject(s):Essay|Book Review |Scientific Life, Scientific Life, Conference Report
- Page Range:205-209
- No. of Pages:5
