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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 »
Mass Privatization
Should investment (privatization) bonds be invested directly in stocks, or should regulations be introduced for their investing into investment funds? A liberal system for investing these privatization bonds would allow for the formation of confidential investment funds. more »
The Reform in the Bulgarian Banking System
The economic reforms that were launched in Bulgaria following the democratic changes in late 1989 are meant to carry out the transition from a centrally planned, to market oriented economy. The banking reform is one of the chief preconditions for the organization of a financial system that conforms with market economy principles, which can facilitate the overcoming of the crisis and restoration of macroeconomic stability. 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‚Äôs 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 »

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