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Movement of Capital and Payments. Monetary and Financial Policies and Convertibility of the Bulgarian Lev, by Lubomir Christov and Alexander Mihailov, 1995
Monetary union is the final stage in economic and financial integration among countries, in the specific case analyzed in the present paper among the countries participating in the Treaty of Maastricht providing for the implementation of such a union as the ultimate objective of the convergence toward a unified Europe. Membership in such a union would require the adoption of a common currency and its circulation as a single legal tender (or the final and irrevocable pegging of exchange rates among the currencies of the participating countries), as well as the conduct of common monetary (including foreign-exchange) policy. more »
 
LEGAL ASPECTS OF THE PRIVATE SECTOR IN BULGARIA
Following the socialist revolution in 1944, the legal system and legislation served the purpose of fortifying the economic framework of socialist society. A number of laws adopted in the first years of socialism put public property and socialist planned economy in the foreground. Private property was rejected and certain laws were passed stipulating the expropriation of private means of production, the collectivization of farm land, and finally, the nationalization of personal property of citizens - housing, and others. more »
 
Good stories of foreign investment
The purchase of the Bulgarian state enterprise MAIZE PRODUCTS SPLTD is the first privatization deal completed in Bulgaria under the Transformation and Privatization of State and Municipal Enterprises Act. Being the first privatization deal, it has been accurately analyzed among experts, politicians and state privatization bodies. A year later it can be said that it has been a successful contract for both parties - the Bulgarian side and the Belgian group. more »
 
National and Regional Investment Funds in Bulgaria Seminar, 23 - 25 March 1994, Bansko
The seminar on Investment funds follows up on the municipal privatization seminar, insofar as privatization constitutes a key mechanism for furthering regional development and local self-government. more »
 
Nature and Main Trends in the Development of New Agricultural Cooperatives in Bulgaria
The cooperative forms of business and social activity are deeply rooted in the traditions of the economic development of Bulgaria. The Bulgarian cooperatives were established as a form of management more than one hundred years ago, shortly after the liberation from the Turks. The first cooperative was formed in 1890 in the village of Mirnovo, Pirdop region. Its name, "Plough", reflects the primitive technical level of agriculture at that time when the wooden plough was the predominant agricultural tool. more »
 
Investigating Efficiency of Western Consulting Firms Advising East-European Companies
Eighty-five standardized interviews were carried out in the first phase of the ACE Research Project "Investigating the Efficiency of West-European Consulting Companies Working for East-European Companies". The aim of the survey was to evaluate to what extent the practice of using foreign or domestic consultants was spread among Bulgarian state owned companies. The survey gave an opportunity to compare the efficiency and acceptance of foreign and Bulgarian consulting companies. more »
 
Unemployment and Labor Market in Bulgaria
A number of measures for the stabilization of the economy and the building up of the appropriate institutional and legislative framework of market economy and parliamentary democracy have been introduced with the aid of international financial institutions and various programs for technical assistance. The liberalization of prices, the cuts in state subsidies for the economy, and the creation of a credit and currency market were the first preconditions for a transition to market economy. more »
 
Price Reform and Price Setting in the Transition to Market Economy
In the years of the country's development as a socialist state and COMECON member the subject of prices and pricing used to be taboo for Bulgarian economists. Both the price reforms and the changes in the prices of specific articles were carried out under strictest secrecy. The decisions for changes in prices and price policy were made by the top hierarchy of the ruling Communist Party. more »
 
Financing 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 »
 
Privatization and Foreign Debt Conversion in Bulgaria
The issues related to the necessity of an overall conversion program were thoroughly analyzed in the speeches of Dr. Mariana Todorova and Mr. Paul Dax, Financial Advisor of the Ministry of Ecology. Both speakers presented arguments in favour of the thesis that Bulgaria is in need of a systematic conversion program based on foreign debt bonds. The process will be vital for the accomplishment of two significant objectives: acceleration of privatization and restructuring of the economy, and successful foreign debt servicing. more »
 

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