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Publications

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Legal and Institutional Framework of the Private Sector in Bulgaria, by Valentin Georgiev, December 15, 1994
Following the 1944 socialist revolution, the supreme law of the country became the first socialist Constitution of 1947. It provided the basis for turning Bulgaria into a country with one-party government - that of the Communist Party, and a centralized planned economy. Public property was accorded a central place and significance, with guarantees for its protection and development, while private property was relegated to the background and subject to considerable restrictions. more »
 
Commentary on the Governmental Mass Privatization Project, October 1993
The belated start of privatization made the realization of the government's privatization program for 1993 impossible. Merely 2 per cent of the designated enterprises will be sold by the end of the year. The work of the Privatization Agency on preparing the companies for privatization is slowed down by the fact that in a great many instances the legal state analysis indicates that the ownership of long-term assets is unestablished. more »
 
Unemployment, Poverty, Social Security: the Bulgarian Experience, June 1993
The rapid pace of political and economic changes over the last three years have faced Bulgaria with a great variety of challenges. The transition to a democratic society and a market economy, which is taking place under a deepening economic crisis, has caused - or, rather, made obvious - a number of acute problems. Against this background, unemployment and poverty proved to be the social problems with the highest conflict-generating potential. more »
 
Public Opinion On Foreign Investment, April 1993
Compared with the other central and eastern European countries - Hungary, Czech and Slovak republics and Poland, foreign investment turns to be a new phenomenon for the Bulgarian economy. Thus the public opinion on it is in a process of forming. The role of researchers, different studies, the mass-media and foreign investors, themselves, in inspiring public support and acceptance of foreign investment is of great importance. This will contribute to the success of investments that have been made as well as to their further attraction to the country. more »
 
Privatization And Foreign Investment In Bulgaria
Bulgaria has made its choice and continues along the path of speedy and radical reforms despite the enormous difficulties - the painful social and political implications of the transition and the enormous external strain on the economy. Bulgaria sustained losses amounting to approximately US $ 1.2 billion from the Gulf War. The war in former Yugoslavia severely affected the Bulgarian economy, as about 60% of Bulgarian exports used to pass transit through Yugoslavia before the war. The estimated direct and indirect losses by the end of 1993 amounted to over US $ 3bn. According to IWM estimates, the losses in the balance of payments alone for the period between July 1992 and September 1993 amounted to US $ 1,112m*. more »
 
The Agrarian Reform In Bulgaria, 1993
Agriculture is of major importance to Bulgaria's economy. In 1989 - the year preceding the significant political changes - agriculture produced one tenth of the gross domestic product and 18 percent of the country's working population was employed in this sector. The important political and economic changes in Bulgaria after November 10, 1989 inevitably affected agriculture as well. A crucial and exclusive component of agrarian reform, land reform was established with the passing of the Ownership and Use of Farmland Act (OUFA) by the Great National Assembly in February 1991. more »
 
Public Opinion On Foreign Investment, April 1993
Compared with the other central and eastern European countries - Hungary, Czech and Slovak republics and Poland, foreign investment turns to be a new phenomenon for the Bulgarian economy. Thus the public opinion on it is in a process of forming. The role of researchers, different studies, the mass-media and foreign investors, themselves, in inspiring public support and acceptance of foreign investment is of great importance. more »
 
'Brain Drain' in Transition of Science
The paper analysis the reasons why Bulgaria is one of the specific cases of science development and 'Brain Drain'. more »
 
Measurment of aggregate economic activity by means of composite indicators
The Agency for Economic Cooperation & Development /AECD/ experts have begun to asses three barometers of aggregate economic activity since March 1992: economic activity barometer, economic expectation barometer and diffusion index. In that paper we share our experience on the assessment of composite indicators and their utilization in analyzing performance of Bulgarian economy on macro level. more »
 
Economic reform in Bulgaria
At the beginning of 1991 the Bulgarian economy had almost reached the point of collapse. This was due to the economic policy of 1990, combined with the negative effects of the Persian Gulf crisis. On this background a project for one-year "stand-by" credit for Bulgaria from the IMF was prepared. The agreement was signed in February 1991 and confirmed by IMF on March 15. Under these circumstances the use of the IMF resources was the only possibility for partial recovery of the country's hard currency reserves, and this possibility could certainly be used only under the specific conditions required by IMF. more »
 

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