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10 lat członkostwa Polski w Unii Europejskiej. Skutki włączenia do jednolitego rynku europejskiego

10 lat członkostwa Polski w Unii Europejskiej. Skutki włączenia do jednolitego rynku europejskiego

Author(s): Małgorzata Czermińska / Language(s): Polish Issue: 1/2014

The inclusion of Poland to the common market for goods meant the abolition of customs duties and quantitative restrictions on agricultural products in mutual trade with the countries of the European Union (customs duties on industrial goods have already been abolished by the Europe Agreement) and the application of the Common Customs Tariff on imports from third countries. Freedom of movement of goods after the accession to the EU accounted for Polish entrepreneurs a chance, because the fulfillment of EU norms and standards means full access to the common market, amounting to more than 500 million inhabitants. Particularly noticeable was the impact of accession on foreign trade, which, thanks to the membership not only gained easier access to the common market, but also new opportunities to increase trade with third countries. Since Polish accession to the EU gradually increased trade in agricultural products as well as their participation in the Polish foreign trade. Emigration of Poles also increased significantly, especially to countries that with effect from 1 May 2004 opened their labor markets, namely the United Kingdom, Ireland. In the final evaluation of the benefits of joining the common market and free movement of goods, persons, services and capital far outweigh, in both the scale of the economy and at the micro level, the costs associated with membership in the European common market.

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THE EFFICIENCY OF ENSURING THE FINANCIAL SECURITY OF ARMENIA։ NEW APPROACHES

THE EFFICIENCY OF ENSURING THE FINANCIAL SECURITY OF ARMENIA։ NEW APPROACHES

Author(s): Gayane Salnazaryan,Albert Hayrapetyan,Marine Avetisyan,Lilit Avetisyan / Language(s): English Issue: 3/2022

Financial security is considered a subsystem of the economic security system. The financial security of the Republic of Armenia is one of the most urgent issues of study and analysis. Covid-19 and the 2020 war in Armenia harmed all sectors of the Armenian economy, especially economic and financial security. At this moment, the research of the chosen topic becomes more than necessary and urgent. In the current post-crisis period, financial security is more than possible in Armenia. In this article, we tried to define and analyze the elements affecting the security of the Armenian financial system and evaluate the current effectiveness of financial security. For that purpose, we have formulated the following research questions: How are countries’ financial security assessed? What elements ensure financial security in Armenia? Is the current system of financial security effective in Armenia? The applied methodologies are quantitative and qualitative. In particular, we used index analysis, graphical analysis, comparison, and expert evaluation analysis to answer the research questions. The analysis results showed that the change of isolated factors significantly impacts indicators of the country’s economy, particularly the financial system; moreover, the factors indirectly impact the country's social, political, and public life.

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Из историята на земеделското кредитиране в Габрово и региона (1878–1912)

Из историята на земеделското кредитиране в Габрово и региона (1878–1912)

Author(s): Rositsa Zlatinska / Language(s): Bulgarian Issue: 1/2022

The text presents and analyzes the foundation and the work of the agricultural case in Gabrovo. With the gradual economic development the need of organized agricultural credit system becomes greater. As a result of this need emerged first, albeit primitive, credit institutions – agricultural cases. Their main goal is to implement a financial support to farmers and increase the production and the income of agricultural sector. Farmers need low interest loans to develop their activities. In the 60s and 70s of the 19th century major source of capital for farmers were usurers. Most of them lend money in poor conditions. There are several cases in which the obligations of farmers grow a lot and they were forced to sell a lot of their property to pay back to the usurer. The cases lend money under better conditions than the usurer. The interest rate is fixed at 1% per month or 12% per year. On the other hand, the interest rate of the usury loans is between 3–5% per month and 36–60% per year. The difference is obvious, it leaps to the eye. Yet, there are a lot of cases when farmers use the services of the usurer instead of these of the agricultural cases. During the whole period both organized and unorganized credit forms develop and operate together. The positive results of the work of the agricultural cases are visible. But they also have a lot of problems. The biggest one is the lack of enough money and a lot of problems with their administrative structure, their personal and the procedure of lending money. After such a long time of existence and much reorganization the cases cannot cope with their problems and disadvantages. Evidence of the role and the importance of agricultural cases is the fact that they continue to work in the Ottoman Empire and in Bulgaria after the Liberation of 1878.

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EXAMINATION OF DECISION-MAKING STRUCTURES’ PERCEPTIONS OF COMPONENTS ON THE INFLUENCES OF SME SUCCESS

EXAMINATION OF DECISION-MAKING STRUCTURES’ PERCEPTIONS OF COMPONENTS ON THE INFLUENCES OF SME SUCCESS

Author(s): Muhamet J. Spahiu,Esat A. Durguti / Language(s): English Issue: 1/2023

Small and medium-sized enterprises (SMEs) have succeeded in being the main and dynamic pillar of national and international economies. Education and work experience is essential in increasing SMEs’ efficiency and competitiveness. The changing business environment has created fierce competitiveness among SMEs, requiring active interaction between managers/owners and stakeholders. As a result, this study aims to explore the influence of education, experience, using a business plan, and barriers on the success of small and medium-sized businesses. This research employed an online questionnaire for scientific research. Through ordered logistic modeling, we observed 336 answers from businesses using the qualitative approach. The study’s findings reveal that education and work experience have a statistically favorable influence on the performance of SMEs, whereas barriers have a substantial adverse influence. Findings on barriers are noteworthy in the context of this study since the governing institutions throughout the pandemic and later situations experimented with the measures adopted. The study also benefits SMEs and legislation authorities in understanding the critical concerns that are perceived as barriers to the growth and expansion of SMEs, resulting in the creation of even more sophisticated infrastructures to support sustainable development.

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“Precision agriculture” and the new European strategic value chains framework

“Precision agriculture” and the new European strategic value chains framework

Author(s): Irina Tsakova,Daniela Georgieva,Milena Mitkova,Teodora Georgieva / Language(s): English Issue: 14/2022

This report focuses on “precision agriculture” as one of the possibilities to overcome the critical factors and challenges along the supply chains for agricultural and food products or the so called “periphery capacity”. It outlines the national priorities for support and development of precision agriculture. Based on a summary overview of the European strategic and statutory documents, it presents the main aspects of the regulatory framework associated with the processes of climate neutrality, autonomy and circular nature of the European economy. It describes the main challenges of the “Twin Transition” and its impact on the agricultural sector as part of the key value chains. In the context of the European regulatory approach based on the interaction between regulatory mechanisms and self-regulation (including through the creation of codes of conduct and best practice sharing), it lists the legislative measures taken to encourage the shortening of the supply chain as one of the key European strategic priorities. In this regard, it discusses the matters related to the legal protection against unfair trade practices in the relations between economic subjects in the supply chain of agricultural and food products as well as examples of self-regulation in the sector such as the voluntary Supply Chain Initiative. The main conclusion is that the need for innovation in precision agriculture is related directly to the active participation of both farmers and the entire supply chain in the development of these technologies. The report gives the results of research of the literature on the development and potential of “precision agriculture” in China and the results of an in-depth study among representatives of the sector aiming to compare the current situation, the motivation and the barriers to the development of precision agriculture in Bulgaria as well as the interrelation of this process and the participation of Bulgarian farmers in value chains.

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Identity, otherness and commerce in times past Bucharest: „The Flea Market”
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Identity, otherness and commerce in times past Bucharest: „The Flea Market”

Author(s): Alexandra Rusu / Language(s): English Issue: 20/2022

“The flea market” was a place intended for the old furniture trade, but also other items that today we generically call second-hand goods, which appeared on the Bucharest trade map in the second half of the 19th century. It was erected in a disadvantaged area, densely populated, marked by the Jewish singularity. For more than half a century(1876-1930), the activity in the flea market, coordinated exclusively by Jewish merchants,had an undeniable role in the capital’s economy. Regarding its image, it was painted in the context of new socio-political realities in the Old Kingdom of Romania, such as the awakening of nationalistic feelings and xenophobia, especially antisemitism. In the last decades of the 19th century, the “Jewish Question” became an intellectual problem with an essential political stake, the emancipation of the Jews being in an irreconcilable position with Romanian nationalism. The anti-Semitic discourse used by the political, intellectual,and cultural elite presented the Jews as unassimilable, anti-national elements that could undermine the Romanian character. Examples from the periphery of life, including the Jewish merchants in Lazăr Street and the “Flea market”, constitute the extreme otherness and a potential danger to the nation’s body, thus emphasizing the opposing nature discourse and favoring an ideology of excluding Jews from Romanian culture and society.The research aims to capture the flea market atmosphere and the image of the Jewish community nearby, as reflected in the writings of some personalities (politicians, historians,prose writers, journalists) of times past Bucharest. The perspectives exhibit a wide range of observations, from objective ones, in contrast to the circulated stereotypes, to subjective ones, filtered through emotions, all pieces of the collective mind’s mosaic. Examples in the press oscillate between fin-de-siècle anti-Semitism and the anti-Semitism of the early 20thcentury, infused with scientific claims, all using the flea market as a symbol of inadequacy for an entire ethnic community

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THE RISE OF THE MODERN STATE SINCE 1500: ANNUAL REVENUES OF EUROPEAN AND OTHER STATES

THE RISE OF THE MODERN STATE SINCE 1500: ANNUAL REVENUES OF EUROPEAN AND OTHER STATES

Author(s): Şevket Pamuk,Kıvanç Karaman / Language(s): English Issue: 1/2023

Recently, with the economic and political problems especially in developed countries and the Covid 19 pandemic, the place of the state in economic development is being debated once again. This presentation focuses on the simple ratio revenues as percent of GDP and summarizes the recently collected evidence about the growing role of the states in Europe and elsewhere during the last five centuries. It shows that revenues of states as a percent of GDP have been rising since the sixteenth century. This powerful trend began in Europe and has spread to the rest of the world including many of the developing countries since the second half of the nineteenth century. Historical examples going back to the era before the Industrial Revolution suggest that economic development took place not in countries where the state was small and weak, but in countries where a strong state supported economic development.

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ОТНОШЕНИЕТО КЪМ ЛИХВАРИТЕ И ЛИХВАТА В ОСМАНСКА БЪЛГАРИЯ ПРЕЗ XIX ВЕК. ПРАВОСЛАВНАТА ПЕРСПЕКТИВА

ОТНОШЕНИЕТО КЪМ ЛИХВАРИТЕ И ЛИХВАТА В ОСМАНСКА БЪЛГАРИЯ ПРЕЗ XIX ВЕК. ПРАВОСЛАВНАТА ПЕРСПЕКТИВА

Author(s): Hristiyan Atanasov / Language(s): Bulgarian Issue: 1/2023

This article delves into a prevalent question within the realms of economic history and theory: How were usury and interest perceived? It primarily explores the religious and moral viewpoints concerning lending with interest from the vantagepoint of Orthodox Christianity – the dominant religious denomination in Ottoman Bulgaria. The article provides both direct and indirect evidence of the strong religious aversion to usury during the studied period, an attitude that significantly influenced the mindset of the populace. Furthermore, this research examines indications of evolving perspectives over time. In the nineteenth century, the predominant moral disapproval of usury began to wane, influenced by Western liberalism and rationalism. Nonetheless, it remained the dominant and defining perspective.

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ПЕРИФЕРИЯ ИЛИ ПОЛУПЕРИФЕРИЯ? КОГА БЪЛГАРСКИТЕ ЗЕМИ СА ВКЛЮЧЕНИ В СВЕТОВНИЯ КАПИТАЛ?

ПЕРИФЕРИЯ ИЛИ ПОЛУПЕРИФЕРИЯ? КОГА БЪЛГАРСКИТЕ ЗЕМИ СА ВКЛЮЧЕНИ В СВЕТОВНИЯ КАПИТАЛ?

Author(s): Aleksandar Zlatanov / Language(s): Bulgarian Issue: 1/2023

The paper aims to review several perspectives on when and how the Bulgarian lands (Ottoman Rumelia) were integrated into the world system of capital? And in what capacity – as periphery, semi-periphery, or something else? For this purpose the prism of the so-called world-system analysis will be used. World-systems theory was developed in the early 1970s by the American sociologist and historian Immanuel Wallerstein (1930 – 2019). The theory was influenced by various world-renowned scholars such as C. Polanyi, N. Kondratiev, I. Prigozhin, A. Smith, J. Schumpeter, etc., but above all by the tradition of the French Annales School and Braudel’s concept of the „longue durée“. In 1976 Wallerstein founded the „Fernand Braudel Center for the Study of Economies, Historical Systems and Civilizations“ at Binghamton University, which with its academic journal „Review“, became the most influential intellectual centre for the application of world-system analysis. At the end of the 1970s, Wallerstein posed for the first time the research questions: when exactly and how was the Ottoman Empire incorporated into the system of global capital? Was this incorporation a singular event, or were the different regions of the empire – Rumelia, Anatolia, Syria, Egypt – incorporated at different times? A few years later, from the early 1980s, Wallerstein, and his collaborator Reşat Kasaba, answered these questions by placing the full incorporation of the Ottoman Empire into world-economy in the period 1750–1839. By reviewing Wallerstein and Kasaba’s main arguments, as well as the data and research that has accumulated, we will try to find out whether their claims are still valid today or need some refinement? The paper aims to review several perspectives on when and how the Bulgarian lands (Ottoman Rumelia) were integrated into the world system of capital? And in what capacity – as periphery, semi-periphery, or something else? For this purpose the prism of the so-called world-system analysis will be used. World-systems theory was developed in the early 1970s by the American sociologist and historian Immanuel Wallerstein (1930 – 2019). The theory was influenced by various world-renowned scholars such as C. Polanyi, N. Kondratiev, I. Prigozhin, A. Smith, J. Schumpeter, etc., but above all by the tradition of the French Annales School and Braudel’s concept of the “longue durée”. In 1976 Wallerstein founded the “Fernand Braudel Center for the Study of Economies, Historical Systems and Civilizations” at Binghamton University, which with its academic journal “Review”, became the most influential intellectual centre for the application of world-system analysis. At the end of the 1970s, Wallerstein posed for the first time the research questions: when exactly and how was the Ottoman Empire incorporated into the system of global capital? Was this incorporation a singular event, or were the different regions of the empire – Rumelia, Anatolia, Syria, Egypt – incorporated at different times? A few years later, from the early 1980s, Wallerstein, and his collaborator Reşat Kasaba, answered these questions by placing the full incorporation of the Ottoman Empire into world-economy in the period 1750–1839. By reviewing Wallerstein and Kasaba’s main arguments, as well as the data and research that has accumulated, we will try to find out whether their claims are still valid today or need some refinement?

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ТЪРГОВИЯ С ВРАГА – ТЪРГОВСКО-ИКОНОМИЧЕСКИТЕ КОНТАКТИ КАТО СРЕДСТВО ЗА СТОПАНСКОТО ВЪЗСТАНОВЯВАНЕ НА БЪЛГАРИЯ В КРАЯ НА 1944 И ПРЕЗ 1945 ГОДИНА

ТЪРГОВИЯ С ВРАГА – ТЪРГОВСКО-ИКОНОМИЧЕСКИТЕ КОНТАКТИ КАТО СРЕДСТВО ЗА СТОПАНСКОТО ВЪЗСТАНОВЯВАНЕ НА БЪЛГАРИЯ В КРАЯ НА 1944 И ПРЕЗ 1945 ГОДИНА

Author(s): Mirena Mitova / Language(s): Bulgarian Issue: 1/2023

The article seeks the importance of foreign trade for the revival of the Bulgarian economy in the decisive stage of the Second World War at the end of1944 and in 1945, when Bulgaria was in international economic isolation. The effect on Bulgaria's commercial and economic contacts of the restrictions of the American and English law on "trading with the enemy" imposed on the satellites of the Third Reich is traced. Western companies' fear of breaking the law made Bulgaria's foreign trade with Western European countries almost impossible at the end of 1944 and in1945. Against this background, the attempts of the first OF government to stimulate industrial processes in the country by resuming Bulgaria's foreign trade relations with Western European countries are considered, despite the orientation towards the USSR and the sanction measures of the Western allies. Archival documents from the funds of the Ministry of Trade and Food, the Ministry of Foreign Trade and the Central Committee of the Bulgarian Communist Party, as well as scientific publications dealing with Bulgaria's foreign trade relations at the end of 1944 and in 1945, were brought to the aid of the study.

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ЗА ВСЕ ПО-ПЪЛНОТО ЗАДОВОЛЯВАНЕ НА ПОТРЕБНОСТИТЕ НА ТРУДЕЩИТЕ СЕ: СТАНДАРТЪТ НА ЖИВОТ В БЪЛГАРИЯ ПРЕЗ КОМУНИСТИЧЕСКИЯ ПЕРИОД

ЗА ВСЕ ПО-ПЪЛНОТО ЗАДОВОЛЯВАНЕ НА ПОТРЕБНОСТИТЕ НА ТРУДЕЩИТЕ СЕ: СТАНДАРТЪТ НА ЖИВОТ В БЪЛГАРИЯ ПРЕЗ КОМУНИСТИЧЕСКИЯ ПЕРИОД

Author(s): Matthia Morys,Martin Ivanov / Language(s): Bulgarian Issue: 1/2023

We challenge the view that Centrally Planned Economies functioned well until the mid-1980s, delivering high economic growth and better living standards. As part of a broader research effort into living standards under state socialism, this paper focuses on nutritional evidence. Judged by calorie intake, we show that only in the 1970s did Bulgarian living standards surpass levels achieved already four decades earlier. Our findings are particularly discomforting for the rural population which was the big loser of collectivization and forced industrialization policies after 1946. Big Push industrialization reduced nutritional welfare in addition to coming at high human and societal cost.

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CURRENCY REFORMS AND INFLATION IN COMMUNIST AND POST-COMMUNIST BULGARIA

CURRENCY REFORMS AND INFLATION IN COMMUNIST AND POST-COMMUNIST BULGARIA

Author(s): Ralitsa Simeonova-Ganeva,Martin Ivanov,Kaloyan Ganev / Language(s): English Issue: 1/2023

Here we consider currency reforms, or the compulsory currency exchanges by governments, which were quite common in the first half of the twentieth century. We analyse the effects on inflation of the three currency reforms implemented by the communist regime in Bulgaria after WWII, and of the one that took place during the transition. We provide new evidence on the implemented currency exchanges and compile a time series on the quantity of money in circulation in communist Bulgaria. The collected data and facts show that, contrary to the announced aim to tame inflation through the reduction of liquidity, the three reforms conducted in communist Bulgaria had almost no effect on both money in circulation and inflation. Instead, price stability was achieved through price controls. We emphasize the fact that the growth of money in circulation followed a strong positive trend and exceeded disproportionately the official inflation and output growth. All this generated enormous price pressure and led to the unprecedented inflation rates experienced after the regime collapsed and prices were liberalized. In the following years, high inflation was additionally nurtured by the excessive growth rates of the money supply in the early stages of the transition. Our observations corroborate the fact that the introduction of the currency board arrangement in the summer of 1997 put an end to the high inflationary periods as restrictive monetary and fiscal policies were adopted. We put forward the idea that in 1999, the fourth currency reform played a role in curbing inflation expectations by reducing the scale of price variation. The combined findings of all four reforms confirm the claim that a new currency cannot serve as a tool for combatting inflation per se. It can only be ancillary to reforms establishing fiscal discipline and prudent monetary policies. A side but important finding from the study is that no revaluation of fixed assets was conducted in the 1952 reform, while all other values were considerably reduced. This means that the calculated depreciation was disproportionately higher than the other cost items, which led to significant overestimation of the reported output volumes in the subsequent years and the economic growth rates for 1952–53. Finally, based on the official price-conversion rules, we propose an algorithm for converting values across the different periods.

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ВЪЗРОЖДЕНСКИЯТ ПРЕДПРИЕМАЧ ХРИСТО АРНАУДОВ

ВЪЗРОЖДЕНСКИЯТ ПРЕДПРИЕМАЧ ХРИСТО АРНАУДОВ

Author(s): Svetla Atanasova / Language(s): Bulgarian Issue: 1/2023

The study attempts to construct the personal and professional biography of an entrepreneur from Gabrovo, Hristo Arnaudov. His dynamic and eventful life-story so far remained unsearched and overshadowed by the figure of his eminent father Stancho Arnaudov. For the purposes of this research I have analyzed documents from the museums in Gabrovo and Tarnovo. I have also selected evidence from incunabular books and archive of the Bulgarian Orthodox church. Various scientific publications which are corresponding to the theme are also cited. Hristo Arnaudov’s activity is stretching out in many different directions and has many faces. He was managing the family business in Tsarigrad until 1864; he was one of the first establishers of the joint-stock company “Providenie” in the Turkish capital; a participant in the Great Exhibition of the Works of Industries of All Nations in London; a member of the supervising board of the construction works of the St Stefan church and a warden of the Bulgarian orthodox community, as well as voluntary activity on the publishing of textbooks and a charitable activity in different school organisations. His most famous activity was the translation and publishing of the Laws of the Ottoman Empire in four volumes. After the Liberation Hristo Arnaudov returns to Bulgaria with his family and works in the Sevlievo Court. He became related to the Momchevs - a well-known family from Tarnovo. He passes away in the 1917. The dynamics of the economic and social events from the 50’s until 80’s of the 19 century are illustrating his hesitations and the well-estimated risk taking, as well as his progress based on experience and knowledge. He was also a participant in the revolutionary initiative of the Tsarigrad’s Bulgarians and eventually his activity became part of the concept of economical growth.

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БЮДЖЕТ И БЮДЖЕТНА ПОЛИТИКА НА ОБЩИНА СВИЩОВ ПО ВРЕМЕ НА УПРАВЛЕНИЕТО НА КМЕТА ХРИСТО ТЕОДОРОВ (1887–1893)

БЮДЖЕТ И БЮДЖЕТНА ПОЛИТИКА НА ОБЩИНА СВИЩОВ ПО ВРЕМЕ НА УПРАВЛЕНИЕТО НА КМЕТА ХРИСТО ТЕОДОРОВ (1887–1893)

Author(s): Margarita Marinova / Language(s): Bulgarian Issue: 1/2023

The article analyzes the budget policy of the municipality of Svishtov during the administration of the mayor Hristo Teodorov (1887-1893). The new Municipalities Act of 1886 writes down the municipal income and expenditure precisely, and so it is made easier to make budgets. It trackes down what principles the revenues are formed of and what difficulties there are in collecting them. It is concluded that the highest revenues are collected from the measurement and hauling of goods and that the most serious resource is allocated for the construction of municipal administration and infrastructure projects - mainly for the repair and construction of new streets to connect the city with the port in order to ensure trade. The violations committed by the mayor in the management of expenses are also revealed. In conclusion, it is stated that through various projects and activities, Teodorov managed to change the appearance of the city and to ensure its economic and social stability. Along with that, he also leaves a considerable municipal debt. It is the result of the impossible issue to repay both the loans taken out and the development program deployed with the available revenues.

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ДЕЙНОСТТА НА ЗЕМЕДЕЛСКАТА КАСА В СВИЩОВ В ПЕРИОДА ОТ 1878 ДО 1903 ГОДИНА – ОБЩ ПРЕГЛЕД

ДЕЙНОСТТА НА ЗЕМЕДЕЛСКАТА КАСА В СВИЩОВ В ПЕРИОДА ОТ 1878 ДО 1903 ГОДИНА – ОБЩ ПРЕГЛЕД

Author(s): Emiliya Vacheva / Language(s): Bulgarian Issue: 1/2023

The historical development of the Agricultural Fund in Svishtov during the period spanning from the Liberation to the establishment of the Bulgarian Agricultural Bank has yet to be explored as an independent topic. It has primarily been a part of broader research addressing the city's banking and credit history. This article initiates a comprehensive study of this significant institution. It outlines the principal functions and services provided by the fund, highlights both its strengths and weaknesses in development, and assesses its place and role in the local economic landscape. An analysis of the available data reveals that during this period, the Svishtov Agricultural Fund held a pivotal position in the economic life of the region. It played a vital role in introducing modern agricultural techniques and innovative crop production methods, as well as animal selection practices. These advancements led to increased productivity and improved incomes for the local population. With the fund's support, the region flourished as a key agricultural center.

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THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME INEQUALITY

THE EFFECT OF FINANCIAL DEVELOPMENT ON INCOME INEQUALITY

Author(s): Vesë Qehaja-Kekaë,Atdhetar Gara,Erblina Hajdari,Arber Hoti / Language(s): English Issue: 3/2023

The imperative goal of attaining sustainable development necessitates mitigating income inequality and bolstering access to financial institutions. This research explores the influence of an array of independent variables, namely credit demand, GDP per capita, inflation, government consumption expenditure, and education, on the Gini coefficient across the EU’s 27 Member States from 2008 to 2019. The investigation procured secondary data from the esteemed international entity, the World Bank, with 324 observations belonging to the panel type. Because of the utilization of panel data, this study implemented various econometric models, commencing with the OLS model, followed by the fixed effects model (FE) and random effects model (RE). According to the outcomes of the econometric models, credit demand and education positively impact income inequality. At the same time, GDP per capita, inflation, and government consumption expenditures have a negative effect on income inequality. Additionally, the findings demonstrate the significant impact of credit demand, GDP per capita, inflation, and government consumption expenditures on income inequality.

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Unbacked Cryptomoney, Fiscal Evasion and Environment Tax: Some Policy Recommendations in Europe

Unbacked Cryptomoney, Fiscal Evasion and Environment Tax: Some Policy Recommendations in Europe

Author(s): Camille Boulanguer,Sarah Goldman,Maya Jandah,Tsvetelina Marinova / Language(s): English Issue: 1/2024

In a 2019 New York Times article, Paul Krugman declared himself a “crypto skeptic” and shared his pessimistic predictions for cryptocurrencies. Nevertheless, unbacked cryptomoney is now very important in our societies and has revolutionized the monetary and financial landscape as exemplified by the increased pressure from competent regulators to monitor and regulate it. Cryptocurrencies are described by their high volatility that permits regulators to define them as non-safe financial assets when it comes to energy consumption. The anonymous property of cryptocurrencies opens the door to tax evasion, making it especially susceptible to avoiding environment-related taxes aimed at tackling negative impact of climate change. Against this background, the paper sets a twofold aim: to demonstrate that unbacked cryptomoney is volatile and it may pose a threat to financial and fiscal stability; and to develop the idea that, given their different degrees of anonymity and their decentralisation nature, cryptocurrencies could actively participate in the process of tax evasion and therefore incur high costs for countries. Given the general ecological condition and ensuing concerns, it is clear that avoiding eco-taxes represents a serious issue since money from eco-taxation could have been invested in environmental social and governance projects. Therefore, a clear and compelling legal framework should be implemented worldwide to reduce the tax evasion phenomena via cryptomoney channels.

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Добри възможности и бариери пред зърнената търговия в пристанищата на Западното Черноморие през 40-те години на XIX век, отразени в докладите на европейските консули

Добри възможности и бариери пред зърнената търговия в пристанищата на Западното Черноморие през 40-те години на XIX век, отразени в докладите на европейските консули

Author(s): Ivan Roussev / Language(s): Bulgarian Issue: 1/2024

The article presents the good opportunities and the barriers (problems) for the grain trade in the ports of the Western Black Sea coast in the 1840s. The main historical sources of the study are the reports of the European consuls in the biggest of these cities at that time – Varna. Today, these documents are kept in the Diplomatic Archives of France in Paris and in Nantes (Archives diplomatiques du Ministère des Affaires étrangères de la République française à Courneuve, Centre des Archives diplomatiques à Nantes), and only a small part has been used by scholars. The 1840s was an interesting time, as this decade saw the beginning of the great increase in grain exports from the Balkans (then part of the Ottoman Empire) to the markets of Western Europe. Consular reports describe this process in detail. They also present the problems that accompanied it: the poor treatment and non-acceptance of European consuls and merchants in the Ottoman Empire; the return to monopolies prohibiting grain exports, even though these monopolies were officially abolished in the Empire as early as the 1830s.; competition and mistreatment by merchants from the Greek islands, who had settled on the Western Black Sea coast at an earlier date; the different units of measurement and their incorrect use, which disadvantaged both peasant producers and European merchants; the high taxes levied on peasants in the Ottoman Empire; the non-fulfilment of sales contracts by peasants; drought and poor harvests in some years. The article enriches the theme of trade between the Ottoman Empire and Western Europe in the 19th century with new data and analysis.

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Оценката за ролята на Режията върху развитието на тютюневия отрасъл в Османската империя от края на ХІХ – началото на ХХ век

Оценката за ролята на Режията върху развитието на тютюневия отрасъл в Османската империя от края на ХІХ – началото на ХХ век

Author(s): Valentin Kitanov / Language(s): Bulgarian Issue: 1/2024

The condition of the tobacco sector in the European territories of the Ottoman Empire at the end of the 19th and the beginning of the 20th century was determined by the functioning of the Tobacco Regie – a foreign consortium established in 1883 following an agreement with the Ottoman Public Debt Administration and the Ottoman state. Through this concession, foreign capital gained complete control for 30 years over the purchase, processing, and sale of tobacco produced in the state, with the exception of tobacco for export. Existing tobacco factories were closed, and new ones were opened, entirely under the control of the Regie. The Ottoman state renounced the collection of taxes on tobacco, except for the tithe, and agreed not to issue licenses for tobacco-related activities to other individuals or companies. These changes were not universally accepted, and according to contemporary assessments, the introduction of the Tobacco Regie in the Ottoman Empire had a negative impact on the quantitative and qualitative characteristics of tobacco production in certain regions. It led to an increase in tobacco smuggling and affected the interests of small tobacco producers, particularly in Macedonia and Thrace.

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Българското законoдателство от 30-те и 40-те години на ХХ век и фабриката ,,Нисим Авдала & синове“

Българското законoдателство от 30-те и 40-те години на ХХ век и фабриката ,,Нисим Авдала & синове“

Author(s): Yordanka Krivoshieva / Language(s): Bulgarian Issue: 1/2024

Legislation in the 1930s and 1940s was characterized by significant changes in the Bulgarian industry, which generally came down to state regulation and control of production. The aim of the present study is to show the influence of the laws and their consequences on the economy of the country, through the history of an enterprise. The disadvantages of the Industry Act of 1936 are expressed in the favoring of firms, usually state and municipal, restrictions on private enterprise and free competition. The anti-Semitic state policy in 1942–1944 adversely affected the Bulgarian economy. Enterprises with a long tradition, with established trade contacts and markets are nationalized and entrusted to state officials. The economic transformations carried out by the political regime after 1944 represent yet another supreme injustice. They are conducted by the state without the necessary resources of experienced and prepared persons with knowledge and culture.

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