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The year 2018 started with a dip and ended with a dip. While the first encouraged investors to buy, the second sowed fear. With fiscal difficulties in France and Italy, Brexit plans going round in circles and a headstrong president in the US, recession became a popular topic of discussion in late 2018. Meanwhile, Slovakia’s economic policy suggested there was little to worry about in the future.
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In the present study the concept of smuggling and tobacco products was analyzed. The relationships and relationships between the two concepts are indicated. The main issues and challenges of smuggling and illegal trade are characterized. Measures have been proposed to improve countering smuggling and illicit trade in tobacco products.
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Feministička ekonomija, kao posebna škola ekonomskog mišljenja i nastavna disciplina, razvija specifično analitičko razumevanje za rodna pitanja u nejednakosti koje funkcionišu u poliekonomskim procesima na nivou makro i mikro ekonomije društva, koja ostaju nedovoljno vidljiva i objašnjenja u konvencionalnim ekonomskim teorijama, istraživanjima i sudijama. Na makro nivou različiti feminističko ekonomski pristupi istražuju i objašnjavaju rodne pristranosti u makroekonomskim analizama, poliekonomskom i finansijskom upravljanju rodne uticaje ekonomskih politika.
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In the present article a subject matter that has attracted great interest over the recent decades is analyzed. The critical question of the likelihood of incorporating the International Financial Reporting Standards into the financial reporting system of the United States has raised a lot of debates.The problem has been the focus of profound deliberations among both scientific and professional community. Our long-lasting research found out that the strategic goal of reaching one single set of global accounting standards through the project of convergence carried out by the most influential Boards – the International Accounting Standards Board located in London with second headquarters in Tokyo, and the U.S. Financial Accounting Standards Board, has not yet been achieved. It is appropriate to emphasize that the realisation of the project began as a result of the agreement reached in September 2002, Norwalk. However, it is increasingly recognized that the era of convergence probably is coming to an end. Prominent scholars argue that the strategic goal turned out to be neither practical norachievable in the foreseeable future. For the time being the authorized American institutions do not intend to completely adopt the International Financial Reporting Standards as issued by the IASB into the U.S. financial reporting system. It seems as though, the authoritative organizations in the United States attempt to continue keeping in line with the specifics of the U.S. business environment. It is assumed that the Securities and Exchange Commission will never perhaps risk causing a political storm by yielding the control over its accounting to an institution outside the USA. In my view, an essential reason that causes inconveniences in the implementation of the IASB’s standards globally is that the accounting principles and standards interact in different ways with national laws, social and ethic codes, domestic fiscal rules, and this process is unavoidable. However, in each state and jurisdiction the interaction has its characteristics and specifics. Complications may arise out of the local tradition, culture and historical continuity in performing accounting as a practice as well as the legal doctrine and the degree of their interrelation. No less important are the essence and peculiarities of the national legal and accounting system, the extent of cultural impacts on the contemporary development of accounting and the influence of the principles on the basis of which the systems of state authority are established, interact and function.
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The European Green Deal is the first multilateral strategy to ensure sustainable future for the entire EU. The Union intends to engage other countries and continents in commitment to the Paris agreement through expedient policy making, law engagement, leading by example and active diplomacy. EU has the potential to become a world leader in this continues process of energy, technological and economic transformation which would contribute to preserving the Earth and the mankind. The European Green Deal is vastly enveloping and transformative, it reaches beyond the frame of the pragmatic and technocratic solutions and, by necessity, transmutes itself into a philosophical problem.
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This paper analyzes the economic growth in the euro area countries and interprets it in the context of the expenditure factors involved. In this context, the expenditure structure of the GDP and its dynamics in the periods before and after the last crisis is examined, the independent behavior of the individual expenditure components is commented, as well as their contribution to the achieved rates of economic growth. In this way, certain specific features between countries and groups of countries within the euro area are derived.
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The present paper provides an insight into shaping the EU‘s Digital Single Market – in terms of strategic pillars and priorities, as well as relevant national programmes and policies aimed at the digitalization of European enterprises. Via a comparative approach, a brief analysis of different measures and instruments – implemented by the member states and supporting the adoption of new technologies in line with the opportunities created by the rapidly expanding digital economy, has been also provided. As regards appropriate targeting (at macro, micro and sector levels), an important step would be to address areas that are crucial for the Industry 4.0 landscape. Bulgaria is lagging behind EU‘s best performers in this particular respect, despite the country‘s moderate assessment of available funding options and access to finance.
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The objective of the research is to present the importance of the European Green Deal for the European economy. The paper reviews in a greater detail as a subject the structure of the Green deal proposal and its mechanisms. The utilized research methodology includes content analysis, analysis of statistical, historical data, graphics, conclusions and generalizations. The hypothesis is that the European Green Deal presents tremendous opportunity for the EU to lead the global course towards climate neutral economy and decarbonization. Significant changes to the existing socio-economic structures would follow. In preparation for that, the EU engages significant amount of public fiscal resource in the long transition to climate neutrality till 2050. The strategic fundamentals of the European Green Deal are highlighted by the European Commission, yet further legal acts and binding policies shall be implemented so that measures and commitments are enforced with efficacy. It concludes that combination between already existing and new policy instruments are introduced.
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In recent years, the phenomenon of rehsoring has become increasingly popular. Interest in the return of activities is increasing, both among politicians and scholars, and is being debated as to whether the resourcing is an increasing trend, or part of the traditional strategic mix of companies that, through investment and investment, choose the optimal location for their activities. The study of the evolution, scale and motivation of the return of activities is becoming increasingly important for understanding the drivers behind this phenomenon and for promotion policies. This article outlines the reshoring phenomenon, provides an overview of terminology, and sets out an exemplary research framework to help those working in the field – scientists, policy makers, and more.
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The political and the institutional systems of the European Union (EC, the Union) are complicated system organized on many levels – regional, national and European. Many factors affect the organization and the functioning and the EC institutions. They face continuously in their work challenges and have to solve new arising problems in the current dynamic world. The normal work and the future development of EU as a unique political and economic organization of voluntarily joined European countries depends vastly on the institutional system abilities (capacity) to take on time efficient short-term and perspective decisions. In the present article we have tried to identify and to classify the most important challenges in the current development and the main factors – external (global) and internal, affecting the Union and as well as their complex effects and consequences.
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We explore two vaguely structured concepts – competitiveness and knowledge society. We attempt to describe the relations in between those two concepts and their mutual coherence in the contemporary development context. Authors suggest main directions in development of a complex methodological approach in analysing those relations. We underline the necessity of a new type of education and research methodologies to be employed in the analysis and the evaluation of such complex and multi-aspect phenomena.
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Urban mobility is changing in the most cities in the developed world. More importantly, these changes are no longer related to the continuation of past trends, such as the significant increase in motorization in the second half of the 20th century. Instead, cities are increasingly seeing the impact of more destructive changes, whether as a result of technological innovation, socio-economic change or new political interventions. The significant and unexpected growth of urban bicycling; the growing importance of the car- and bicycle sharing; multimodal travel supported by smartphone travel applications; and rediscovery of walking in urban conditions are not only the common experiences in many cities, but they have become the main focus of the urban transport policy in the cities around the world. This study aims to address the issues of the sustainable mobility, how and via which policies and incentives will be realized and what are the challenges the automotive companies are facing. The methodology used for the study conduct is an analysis of primary and secondary information, a review of researches by leading consultancy companies, opinions and researches of the European institutions, and a regulatory framework to clarify the problems and opportunities for mobility. In order to solve the connectivity, safety and environmental issues, the automotive industry should work with other industries, institutions, NGOs etc.
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The present study focuses on the disclosure practices of the companies’ environmental impact in their sustainability reports. Based on various studies of companies’ sustainability reports, the study aims to follow how the disclosure practices change and which principles and approaches influence and stimulate the development of such disclosure. Different formats for disclosure are being considered, with more attention being paid to the Global Reporting Initiative (GRI) as the most commonly used format. The goal is to highlight the positive aspects of disclosure of sustainability information, as well as to be presented some shortcomings in the reporting formats and the impact they have on the company performance. A sustainability spectrum model is presented, exploring the stages of sustainability that companies reach when providing sustainability information. The study also includes a practical example for a sustainability reporting by an automotive company.
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In 2012 the EU brings up the need of a Comprehensive investment agreement with China – its second largest trade partner. The report presents from the European perspective the current situation with the FDI flows between EU and China, the obstacles in front of a more effective international investment policy, the objectives and tasks of the agreement and also the estimated effect of the treaty. At the end of the report conclusions on the eventual economic opportunities for Bulgaria are made based on the analysis.In 2012 the EU brings up the need of a Comprehensive investment agreement with China – its second largest trade partner. The report presents from the European perspective the current situation with the FDI flows between EU and China, the obstacles in front of a more effective international investment policy, the objectives and tasks of the agreement and also the estimated effect of the treaty. At the end of the report conclusions on the eventual economic opportunities for Bulgaria are made based on the analysis.
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The current paper "Social Policy of EU in the globalizing world – between European and national" presents some aspects of the social policies of EU and the members states and, also, the challenges EU faces because of the continuous changing and developing technological world. The globalization, which affects direct he existence and the life of people, holds out new challenges for the social activities and policies within EU. Shall the policies in the separate countries members of EU continue according to the existing rules in place and every country would determine the social policies by its own or a new approach for unifying should be found in order to be used in the Union as a whole. A comparative analysis is prepared based on the historical experience for the new challenging factors in front of the labour force in Europe and the trends worldwide – negative growth of population, modernization and robotization of production, global network development (Internet), labour migration, etc., showing the new requirements to be met by the European working population in order to keep its competitiveness for the business environment. It is notified that there is a trend of future deeper integration in the social area within EU in order to balance the standard of living in all countries – richer or poorer, by unifying the social area standards.
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The European Union exercises competence in the field of sport. Basic methodological features of the European Union's actions in the field of sport are drawn up by outlining the legal basis, direction and funding of these actions.
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This report discusses recent data on tax revenue and the European Commission series of measures to improve the Value Added Tax (VAT). The article contains information and analysis of the proposals will allow consumers and companies, in particular start-ups and SMEs, to buy and sell goods and services more easily online. The article contains information about proposal of implement a temporary generalised reverse charge mechanism (hereinafter 'GRCM') with a certain threshold per invoice which would derogate from one of the general principles of the current VAT system, and about European Commission is committed to ensuring the free movement of goods and services and to ensuring that "individuals and businesses can seamlessly access and exercise online activities under conditions of fair competition".
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The global crisis from 2007-2008, as well as the sovereign debt crisis due to deep contradictions in the European Union become the main reason for an active policy to change the European framework for financial stability and economic governance. The purpose of this paper is to offer a broad overview and an analysis of those institutional transformations not only in statics but also in dynamics. To uncover the reasons that have led to the establishment of a new institutional structure for financial supervision in the EU, the authors deepen into the understanding of the typical sovereign problems of the Euro area and examine the institutional measures to oversee the budgetary and economic policies of the countries.
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This paper is devoted to the change of the gross external debt in several Member states of the European Union and the euro area – Belgium, Germany, Italy, Luxembourg, the Netherlands and France during the period 2007 – 2016. An examination has been carried out of the key indicators for the gross external debt of these countries in the period 2007 – 2016. A comparative analysis has been made of the dynamics of the financial indicators for the gross external debt of the covered by the analysis countries over the period 2007 – 2016. An outline has been presented of the major trends of the gross external debt dynamics of Belgium, Germany, Italy, Luxembourg, the Netherlands and France.
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The presence of significant revenue and expenditures under the European Union's general budget (although they are relatively small compared to the share of the Member States' public funds) which is a major financial instrument for achieving the Union's aims, is a prerequisite for considering its functional features.
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