"Лошите кредити": институционални и финансови аспекти, 1994

Author(s): Christina Vutcheva / Language(s): Bulgarian / Publication Year: 1994

Since the beginning of 1991 Bulgaria has been living through a period of transition from centralized totalitarian control to free market economy. Year 1990 can be said to mark the political liberation of the people with the adoption of the new Constitution. The economic liberalization, however, is a reality yet to be brought to life since private ownership is not prevalent in the economy. The prime aim of the transition is to substitute an absurd and inefficient economic system for a new one to rely on the free initiative, private ownership and competition.

(Ir)responsibility for future generations - us and the life of those to come or to miss

Author(s): Michal A. Michalski / Language(s): English / Issue: 28/2018

The current and forecasted image of the demographic processes and condition of the socio-economic order of the West (evident e.g. the in case of pension systems based on intergenerational solidarity) calls for thorough reflection. Not only potential, but also increasingly real economic problems in this area indicate that the possibility of serious conflicts and tensions within Western civilization is growing. To analyze and diagnose this developing crisis one needs to look “under the surface” of current social phenomena and processes and draw attention to fundamental cultural shifts. These are the background of such challenges as the advancing depopulation of Western countries. The question that lies behind these, which deserves thorough reflection, is the problem of responsibility for future generations and the related crisis of solidarity. The paper aims at exploring these issues.

1 KASIM 2015 SEÇİMLERİNDE AK PARTİ’NİN SİYASAL KAMPANYASINDA YER ALAN EKONOMİK VAATLERİN SEÇİM SONUÇLARINA YANSIMASI

Author(s): Tuba Kalçik / Language(s): Turkish / Issue: 30/2016

Political parties in a democratic system, are trying to get his/her vote by convincing voters. Parties make political campaign which is a political communication activities to convince voters. Parties use election promises as an important instrument of political campaign in order to be attracted the vote of the electorate. Promises which are made to answer the main problems of the country, the electorate’s expectations and demand’s, function as an effective tool to convince. In this study, it is appeared that how the economic promises which are used in AK Party’s political campaign in 1 November general election affect the election results.

2016 Ve 2017 Yılındaki Düzenlemelere Göre 5746 Sayılı Kanun Kapsamındaki SGK Primi İşveren Payı Desteğinin TMS 20 Uyarınca Muhasebeleştirilmesi

Author(s): Hakan Seldüz,M. Yilmaz Içerli / Language(s): Turkish / Issue: 5/2018

Multifarious incentives are provided for R&D, innovation and design activities with “The Law about Supporting R&D and Design Activities” numbered 5746, in 2008. Some articles of Law number 5746 was changed with Law number 6676 issued in 2016. In 2017, some changes were made over the present regulatory texts of Law number 5746 and some new regulatory texts were issued. Thus, incentives are made more attractive and also their acquisition circumstances and application conditions are made easier. TMS 20 is the accounting standard applied in accounting for, and in the disclosure of government incentives. It is indicated within TMS 20 that receiving manner of the incentive would not affect its accounting method. It is stated that incentives received either in cash or as a reduction of a liability to the government would be accounted for in the same manner. One of the incentives identified in Law number 5746, is SSI premium employer’s share support. Pursuant to regarding law, half of SSI premium employer’s share that is calculated over the wages earned from related efforts of the staff -who are employed in R&D, innovation and design centers and in projects approved by organizations defined in regulations- is being paid from the related fund in Ministry of Finance’s budget, if specified requirements are met. This paper comprises recognition of SSI premium employer’s share support which is defined in Law number 5746. To demonstrate calculation -in accordance with recent regulations- and recognition steps -pursuant to TMS 20- of SSI premium employer’s share supports for staff who have different qualifications, is set as objective of the study. A literature review is made over the legislations whole, which includes laws, by-laws and general communiques, and the related academic studies. SSI premium employer’s share support is explained in details after incentive elements defined within Law number 5746 are briefly summarized. The subject is tried to be concretized by giving epitomes about calculation and book entries of this support and obtained implications are summarized in conclusion section.

4th INTERNATIONAL CONFERENCE ON GOVERNANCE AND STRATEGIC MANAGEMENT "ICGSM"

The circular Economy. BFU. Burgas, 11 - 12 may 2017

Author(s): / Language(s): English / Publication Year: 2017

The conference proceedings “ 4th INTERNATIONAL CONFERENCE ON GOVERNANCE AND STRATEGIC MANAGEMENT “ICGSM” are a collection of the papers presented by the lecturers and PhD students – participants in the 4-th International Conference on Governance and Strategic Management (ICGSM).

A BAYESIAN INFERENCE OF MULTIPLE STRUCTURAL BREAKS IN MEAN AND ERROR VARIANCE IN PANEL AR (1) MODEL

Author(s): Varun Agiwal,Kumar Jitendra,D. K. Shangodoyin / Language(s): English / Issue: 1/2018

This paper explores the effect of multiple structural breaks to estimate the parameters and test the unit root hypothesis in panel data time series model under Bayesian perspective. These breaks are present in both mean and error variance at the same time point. We obtain Bayes estimates for different loss function using conditional posterior distribution, which is not coming in a closed form, and this is approximately explained by Gibbs sampling. For hypothesis testing, posterior odds ratio is calculated and solved via Monte Carlo Integration. The proposed methodology is illustrated with numerical examples.

A BRIEF ANALYSIS OF THE PUBLIC INSTITUTIONS BUGET: THEORETICAL AND PRACTICAL APPROACHES

Author(s): Ana Monica Pop / Language(s): English / Issue: 4/2018

In this paper, we will mainly focus on the new budgetary tendencies of the Public Institutions, financed entirely or partially from the state budget, in the desire to highlight the newest aspects found at the level of the activities carried out in the public sector. The article highlights the official data provided by the National Institute of Statistics on the Cluj County budget execution, structured by items of revenues and expenditures. The contribution of Cluj County was pursued both at national level, and at the level of the North-West region, based on a budget execution analysis for a period of 5 years, namely between 2013 and 2017.The article will also review the methods of substantiating the budgetary indicators, based on both classic and modern methods. The present article embeds the theoretical and practical aspects of public institution financing, being built from an interdisciplinary, economical and legal perspective, by using the integral research method that combines both quantitative and qualitative analyses. In order to accomplish this research, we will use the most relevant scientific resources of maximum topicality, implicitly the official data identified on the site of the Cluj County Council.

A Business-cycle-model with a Modified Cash-in-advance Feature, Government Sector and Oneperiod Nominal Wage Contracts: The Case of Bulgaria

Author(s): Aleksandar Vasilev / Language(s): English / Issue: 8/2018

We augment an otherwise standard business cycle model with a richer government sector, and add a modified cash in advance considerations, and one-period-ahead nominal wage contracts. In particular, the cash in advance constraint of Cooley and Hansen (1989) is extended to include private investment and government consumption. This specification, together with the nominal wage rigidity, when calibrated to Bulgarian data after the introduction of the currency board (1999-2016), gives a role to money in propagating economic fluctuations. In addition, the combinations of these ingredients allows the framework to reproduce better observed variability and correlations among model variables, and those characterizing the labor market in particular.

A Comparative Analysis Of Property Taxation Within European Union

Author(s): Ciprian Sipos / Language(s): English / Issue: 1/2015

The correct settlement of a property taxation system is a topic of interest at the moment, which draws attention in economic or academic debates. One of the most convenient alternatives and easier to implement in order to raise revenues to the state budget is the taxation of property. The comparative analysis of property tax systems in the European Union reveals the need to develop and modernize the property tax system in the new member countries. The tax paid by taxpayers who own property is considered the tax with the fewest negative effects on economic growth, given the immobility of the subject of taxation. This reduces the behavioural effects of this type of tax and minimizes economic distortions. For this reason, is considered necessary to be presented the recent European perspective regarding the taxation of property, be it buildings for housing or special purpose, owned by individuals or corporate. In these conditions, the paper aims to analyze the correlation between the purchasing power of citizens of EU28 countries and the level of property taxes and to perform a grouping of European Union countries according to these indicators. The findings can help governments of the new member countries of European Union to develop a property tax system that would lead to the economic development.

A comparative analysis of research – development and innovation activities in Romania

Author(s): Laura Asandului,Livia Baciu / Language(s): English / Issue: Spec/2010

When adopting the recommendations of the Lisbon Agenda or Strategy, the European states have decided that in order to make the European Union a space of competitiveness and greater social cohesion and a model of sustainable economic growth, research-development and innovation (RDI) must become the main pillar of the member states common policies. Consequently, the European Council recommended more investment in research and development, setting the collective EU target of raising research investment to 3% of the GDP, namely 1% from public funds and 2% from private sector. The current economic and financial crisis and the pressure it poses on resources, public or private, ]has limited to some extent the achievement of these objectives. The investments might not increase as anticipated or they might even decrease. However, several states have understood that, in times of crisis, the investment in research and innovation might bring tremendous gains in terms of new technologies, human capital and knowledge or, in other words, gains in economic competitiveness. This paper aims at providing a comparative analysis of the Romanian situation using the statistical indicators of the knowledge economy, those related to RDI financing and also to RDI results for the short period of time when financing has increased as a result of applying the objectives set out by the Lisbon Strategy. We underline the fact that without financing there is no research and innovation and without policies to support RDI the delays in development cannot be recovered. The final part of the paper provides several recommendations aiming at improving the RDI policies in Romania in accordance with post-2010 Lisbon Strategy.

A COOPERATIVE RISK MANAGEMENT APPROACH FOR LARGE INFRASTRUCTURE PROJECTS

Author(s): Konrad Spang / Language(s): English / Issue: VIII/2014

Large Infrastructure projects face many risks due to their complex technical and social conditions. But who is handling a risk is often not the result of an adequate risk distribution, it is more a function of power. And even though systematic risk management should be a basic element of a professional project management, it is not normative in the execution phase and it is unusual in the design phase of these projects. Contractors often take only risks into account, which are obvious or described by the client. They often disregard risks, because it seems to be no “space” in the bid because of the market situation. Clients rarely have a systematic risk management in their projects and are not focused on a fair risk allocation, they try to allocate as much risks as possible at the contractors side. This paper presents an approach for a cooperative and integral risk management for infrastructure projects, the design and the execution phase included. Recent literature and field study results are considered. This holistic approach includes elements as the clients process responsibility, life cycle orientation, a minimizing concept, risk transparency, a risk list, cooperative risk management, risk controlling and risk reviews.

A fair tax (system) or an ethical taxpayer?

Author(s): Tamás Bánfi / Language(s): English / Issue: s1/2015

An interpretation of fairness based on the equal sacrifice principle is not clear; three taxation rules can be derived from it. Instead of searching for a fair tax system, ethical behavior of the taxpayer should be expected and set as a target. Ethical taxation can be encouraged and the propensity to pay taxes could be reinforced by abolishing the secrecy of individual and family tax returns, setting restrictions on cash operations which are associated with corruption, and gradually eliminating tax havens and offshore areas.

A GENERALIZED EXPONENTIAL TYPE ESTIMATOR OF POPULATION MEAN IN THE PRESENCE OF NON-RESPONSE

Author(s): Siraj Muneer,Javid Shabbir,Alamgir Khalil / Language(s): English / Issue: 2/2018

In this article, we propose a class of generalized exponential type estimators to estimate the finite population mean by using two auxiliary variables under non-response in simple random sampling. The proposed estimator under non-response in different situations has been studied and gives minimum mean square error as compared to all other considered estimators. Usual exponential ratio type estimator, exponential product type estimator and many more estimators are also identified from the proposed estimator. We use three real data sets to obtain the efficiencies of estimators.

A GENERALIZED RANDOMIZED RESPONSE MODEL

Author(s): Housila P. Singh,Gorey Swarangi M. / Language(s): English / Issue: 4/2017

In this paper we have suggested a generalized version of the Gjestvang and Singh (2006) model and have studied its properties. We have shown that the randomized response models due to Warner (1965), Mangat and Singh (1990), Mangat (1994) and Gjestvang and Singh (2006) are members of the proposed RR model. The conditions are obtained in which the suggested RR model is more efficient than the Warner (1965) model, Mangat and Singh (1990) model and Mangat (1994) model and Gjestvang and Singh (2006) model. A numerical illustration is given in support of the present study.

A GLIMPSE OF POSITIVE ACCOUNTING THEORY (PAT)

Author(s): Muhammad Rifky Santoso,,Minda Muliana br Sebayang / Language(s): English / Issue: 2/2017

Positive accounting theory (PAT) has been more developed than normative accounting theory in this era. The development of PAT research has discussed about what factors influenced management to report earnings. By using literature reviews, there are many researches in discussing the external factors to influence management to report earnings, such as bonuses, the debt equity ratio, political costs, and good governance. The other researches have discussed the association between earnings and stock prices. There are still few discussions about the selfmotivation of the directors or managers why choose a certain accounting method. The difference of environment, types of industry, and timing of financial statement reporting can be a further research. By using theories introduced by Popper, Kuhn, and Lakatos, PAT has elements in these three theories; however, PAT has not been categorized as science.

A GROWTH-FRIENDLY SPENDING MIX? BREAKING DOWN PUBLIC SPENDING IN IRELAND

Author(s): THOMAS A. MCDONNELL,PAUL GOLDRICK-KELLY / Language(s): English / Issue: 3/2018

In the context of sustained improvements in Ireland’s public finances since that country’s fiscal crisis of 2008–2012, the scope and adequacy of public expenditures in Ireland have reemerged as a major political and social concern. In this paper, we identify the broad areas of public spending most associated with long-run economic growth. Next, we compare the aggregate level of expenditure in Ireland with euro area averages under the ten Classification of Functions of Government (COFOG) categories. We generally demonstrate under expenditure in the Irish case relative to comparators. However, there are problems arising from the use of GDP in the Irish context as well as problems with comparing spending levels in Ireland with that of the much poorer and cheaper EU countries. We therefore move to compare per capita spending in Ireland with that of similarly affluent EU countries. We find similar under spends within many public expenditure categories, some of which are likely attributable to demographic factors, such as the relative absence of elderly populations in Ireland in contrast to comparator countries. In terms of the composition of spending we find that Ireland allocates a relatively large share of its aggregate primary spend to public order and safety, to housing and community, to education, and especially to health. However, Ireland’s lower per capita primary spend of €14,502 in 2016 was just 84.7% of the peer country population weighted average of €17,112. This meant that education spending on a per pupil basis was actually lower than the peer country average. Certain areas of relative under expenditure, such as the under-expenditure on education, on per capita expenditure on gross fixed capital formation and on per capita expenditure on public Research and Development (R&D) are concerning from a long run growth perspective. We conclude that the limited fiscal resources should prioritize expanding productive capacity through investment in these areas along with measures such as enhanced childcare subsidies to improve employment outcomes, equity and facilitate long run growth.

A HELYI ADÓZTATÁS SAJÁTOSSÁGAI MAGYARORSZÁGON

Author(s): Eva Darabos / Language(s): Hungarian / Issue: 1/2016

A possible alternative of involving resources required for carrying out the municipal tasks is to introduce local taxes which allows the municipalities to manage themselves financially alone. Aim of the treatise is to present the development in number of municipalities introducing local taxes, the role of own revenues and local taxes in the budget of municipalities, highlighting the development in amount of the business tax by settlement type. Based on the data, it can be stated that there has been a significant change in the structure of budget of municipalities since 2008,the local taxes play a decisive role, those ones serve as important sources of funding in addition to the decreasing state aid.

A lender of last resort on trial: Remarks on the controversy surrounding the role of the European Central Bank in the financial crisis

Author(s): Detlev Ehrig / Language(s): English / Issue: 2/2016

The recent European debt crisis has generated a growing importance of the European Central Bank (ECB). The ECB was forced to take measures far beyond its traditional role to stabilize monetary markets and inflation. The ECB has adopted a new function as a lender of last resort, providing banks and governments with almost unlimited liquidity and purchasing government bondswithin Outright Monetary Transactions (OMT). This new role of the ECB has been hotly debated.In Germany, the debate even reached the Constitutional Court. The article will give a survey ofthe fundamentals of a lender of last resort and of the debate referring to the arguments of the ECBand Bundesbank. It is indeed questionable whether the ECB has a mandate for its new monetaryand nolens volens fiscal role. Regardless of whether the arguments are convincing, new steps towardsnew fiscal arrangements and a banking union are needed to stabilize the euro area.

A Method to Calculate Corrective Coefficients for the Valuation of Land Rental Payments

Author(s): Irina Aleksandrovna Astrakhantseva,Ekaterina Vyacheslavovna Balandina / Language(s): English / Issue: 25/2019

The authors propose a methodology to calculate corrective coefficients in the process of calculating rental fees for land use. Based on the analysis carried out, a list of factors affecting the value of the coefficients is presented: general economic and political factors, factors of the municipality’s socio-economic status, factors of profitability, physical characteristics, and the geographical location of the plots of land. The authors propose a methodology to evaluate land use intensity. The authors calculated corrective coefficients used to determine rental fees for land use in Ivanovo, Russia. According to the results of the analysis, it can be concluded that the proposed methodology makes it possible to establish lower values of the corrective coefficients and, consequently, the rental fee amount for plots of land of social significance which do not yield significant profits. Based on the example of calculating corrective coefficients for land located in the city of Ivanovo, it is possible to note the increased amount of rental fees for land intended for the placement of trade facilities, public catering, consumer services, hotels, businesses and commercial buildings.

A Model Assessing Innovativeness of Administration Units Awarding Public Contracts as a Tool to Conduct Economic Policy of the State

Author(s): Arkadiusz Borowiec / Language(s): English / Issue: 2/2015

In today's market economy factors concerning knowledge, new technologies and innovative solutions are essential for economic development. However, the Polish economy, despite its high innovation potential compared to other European Union countries, is characterized by a very low level of innovativeness. Im-plementing this potential is conditioned by an appropriate economic policy of the state and rational approach to its resources and legal solutions. One of the possi-bilities of such an action is the use of public procurement instrument through which it is possible to more effectively create demand for innovative products and services.As shown by literature studies, the achievements of the subject literature asso-ciated with the creation of demand for innovations by public administration in Poland have been very modest. This gap is recognized by the article, and it at-tempts to build a model for assessing the innovativeness of these units. Network thinking methodology was used to build the model. As a result, after the identification of factors affecting the conduct of an innovative public procurement, a network of links was established between them and examined in terms of type, intensity and duration of exposure. Building a model according to the methodology, the opinions of experts have been used along with long-term observations conducted in the course of participation in all kinds of conferences and trainings. The model was also subjected to validation in two selected units.