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Annual Report 1994
At the time the Center for the Study of Democracy was established in the late autumn of 1989, none of us - twelve young scholars who founded it - could foresee the dynamic development it would undergo. Bulgaria was already on the road to democratic transition, and we cherished romantic illusions about the depth and speed at which reforms would proceed. Five years later, we still find ourselves deeply involved in the institutional reform debates, but we now realize that these transformations will take much longer to complete than we had initially expected. more »
 
Postprivatization Behavior of Enterprises in Bulgaria, December 1994
One of the chief goals of privatisation, along with the withdrawal of the state from the management of the economy on a microeconomic level, is for the enterprises to be restructured and, once they have acquired real owners, for their activity to be based on the principles of competition and the market. more »
 
Prospects For Foreign Investments In The Bulgarian Privatization Process, December 1994
Bulgaria welcomes foreign investment in the ongoing process of privatization, including, of course, American investment. This short paper describes Bulgaria’s privatization regulations, the transactions completed to date, the program for 1995, and three new instruments in privatization, namely: (a) the mass privatization scheme, (b) internal debt-for-equity swaps, and (c) foreign debt-for-equity swaps. We hope that this information will be of interest to the participants in the Bulgarian-American Economic Cooperation Forum. more »
 
American Investment In Bulgaria, December 1994
From 1990 until the end of September 1994, sixty-nine investments of declared American origin were registered at the Ministry of Finance. Forty-three of them were made in Bulgarian Leva. The total volume of American investment is 18,662,000 USD, or 6.5% of the total foreign investment inflow to Bulgaria (in comparison, Germany invested 177,305,000 USD). The United States place fifth in terms of invested capital in Bulgaria. more »
 
Start-Up And Development Of Private Electronic Media In Bulgaria, September 1994
The state monopoly on air frequencies first began to crack as early as 1990 and 1991 when the Council of Ministers consented on several occasions to license the experimental rebroadcasting of foreign radio stations, namely the Voice of America, Radio Free Europe (RFE), BBC, Radio France Internationale and Deutsche Welle on designated channels. more »
 
Establishment of a Mutual Fund Pursuant to Article 8 of the Law on Transformation and Privetization of State-owned and Municipal Enterprices, August 1994
The legal framework of privatisation was established in 1992. Its basis is the Law on Transformation and Privatisation of State- Owned and Municipal Enterprises (LTPSME). As it is the tradition of the legal system in Bulgaria, the Law has a framework character, which means that its implementation requires adoption of some regulations and laws to detail some of the provisions of the Law. One of the issues which had to be legislated with follow-up legal documents is the regulation of privatisation revenues use. more »
 
Price Reform and Pricing in the Transition to Market Economy, August 1994
As a result of factors, characteristic of centralized planned economy and particularly pronounced in Bulgaria due to the lack of a significant private sector as had been preserved in Poland, Hungary, GDR, and Czechoslovakia, the economic reform in Bulgaria began with a liberalization of prices and dismantling of the monopolistic structures in industry and the services. more »
 
Financing the private firms in Bulgaria
The strengthening of the market forces in the economy of Bulgaria is related to the stability and development of the private initiative. Given the stagnation in the state-owned and municipal businesses the private sector is the only one, which is dynamic and provides prospects for future development of the national economy. It is much relied on to create a new economic environment, which makes it necessary to provide conditions for boosting its vitality and expansion more »
 
Survey of the Efficiency of Foreign Consultant Firms, May, 1994
The beginning of the reforms in the economy brought about the establishment of a market for consulting services. Its formation was determined on the one hand by the appearance of demand for consulting services, and on the other - by the wide range of legal and economic analyses, expert evaluations and recommendations offered by the rapidly growing number of private persons and firms engaged in this specific sphere of the economy. more »
 
The Efficiency of Consulting Firms, 1994
The beginning of the reforms in the economy brought about the establishment of a market for consulting services. Its formation was determined on the one hand by the appearance of demand for consulting services, and on the other - by the wide range of legal and economic analyses, expert evaluations and recommendations offered by the rapidly growing number of private persons and firms engaged in this specific sphere of the economy. more »
 

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