Contemporary Economic Libertarianism in Bulgaria
First European Resource Bank - Promoting a free and responsible Europe (www.rbeurope.org)
Borovets, Bulgaria, October 29-30, 2004

European Union Savings Directive: Effects On Bulgaria
IME
Bulgaria is a candidate for a membership in the European Union and probably will become a member in 2007. During the last few years the approach of the European Commission has been oriented to ensuring that its proposals are grounded in a systematic analysis of their likely impacts and there is a more robust basis for action than has been required in the past.
In this report we will explain the provisions of the EU Savings Directive and the current situation in the EU and other countries concerned and then assess the effects on Bulgaria and the local economic agents.

August 2004 (File size 85 KB) Read it in:

Disability Rights in Bulgaria, A Survey 2003
Centre for Independent Living and Institute for Market Economics
The Review aims to provoke the active community of disabled people, analysts, politicians and public at large to consider the fundamental principles of living together in a democratic society where people are equal citizens regardless of the presence or absence of impairments.
Review 2003 contains four chapters presenting the opinions of disabled people in regard to state policies as well as those of the experts who have analysed public expenditure on the implementation of these policies.

October 2004 (File size 1 170KB) Read it in:

Study of Incentives, Characteristics and Strategies of Firms Operating 'in the Shadows'
IME
The survey focus is on the incentives to engage in informal activities and the resulting characteristics of company organization and strategy. The general hypothesis is that the choice of entering formal or informal transaction is determined by the incentives and costs that are related to each option. Certain economic regulations create significant disincentives to operate formally. As a result, some entrepreneurial ideas never reach the marketplace, some start informally, some are performed by otherwise formal company but without permission to engage in the particular activity, some are not complying with taxes and/or other liabilities to state.
2003 - 2004 (File size 1 365KB) Read it in:

Bulgaria's Membership in EU: Does the Actual Year of Accession Really Matter to Economic Performance?
Vladislav Slanchev, Faculty of Economics and Business Administration, Sofia University
IME
The paper tries to assess the short- and medium-term effects of a possible delay of Bulgaria's accession to EU on the country's economy. Several scenarios in terms of trade liberalization, level of foreign direct investment and EU transfers are developed which help to distinguish the different consequences from integration with EU and actual membership. The overall results suggest that the link between actual year of accession and higher economic performance is relatively weak. Although a later entry may discourage foreign companies from investing in the country, given the protectionist nature of EU, sound internal economic policies may prove more beneficial for growth in Bulgaria than an earlier date of membership. more

A labor-market perspective to macroeconomic development in Bulgaria after 1996-1997 crisis
Georgy Stoev
After a deep financial crisis combined with a hyperinflation shock in 1996 - 1997, the Bulgarian economy went through significant market-oriented structural and institutional changes during the past 6 years. During the crisis of 1996 - 1997, the output contracted by more than 16% in real terms. As the level of employment remained almost unchanged, the output decline was reflected in the productivity dynamics, which registered a drop of 15% in the same period. more

Private Companies' Costs of Dealing with the Government (A survey on Bulgaria)
IME
What exists is possible. There are practices that reduce barriers to entry and make related corruption impossible. Such possibility are the already established "one-stop shop" (OSS) services as the one open with UK (DFID) assistance in Vidin (North West Bulgaria). Presumably OSS reduces costs of both entrepreneurs and administration, i.e. the costs of compliance with the regulations (for the former), and the costs of regulation implementation and monitoring (for the latter). Presumably, further establishment of OSS (e.g. in Pazardzik, South Central Bulgaria) would remove the redundant application to with different institutions and would imply a lesser waste of time and money on entering markets business, saving administration cost and taxpayers' money. However, the costs of administration would decrease over time, if the confusion of powers is overcome. The "one- stop shop" could simplify the coordination and reduce the ranks (and, subsequently, salary and training costs) of decision-making if and only if there are other preconditions established by the legal frameworks for business activities.
more on the research

December, 2001 (File size 381KB) Link to the survey: Read it in:

Privatization and Post-Privatization as a Type of Industrial Policies
IME
The paper examines the role of the core executive in the privatization process in Bulgaria. It contains background information and relevant data concerning the country's privatization programs. Based on an overview of the political background, it also illustrates the constellation of core executive actors and institutions involved in privatization, their policy styles, the resources that they have at their disposal and the constraints under which they operate. Additional attention is paid to post-privatization control.
2001 (File size 229KB) Read it in:

Principles of the Dialogue Between the Society, it's Elected Representatives and the Government
IME
2001 (File size 19KB) Read it in:

Licensing requirements in retail and wholesale trade and commercial road transport
IME
Most governments set requirements for entrepreneurs to start operating in a certain market. The justifications of state regulation vary from protection of human health to quality, national security or "public interest". Fulfilling these goals through government regulation however, has an opportunity cost, i.e. the procedures and requirements that entrepreneurs should follow are costly both in time and money, and some businesses probably never get started because of this.
2001

What Exists is Possible: FDI Prospects and Policies in Bulgaria
IME
A brief overview of foreign direct investments in the country and prospect for future development
2000 (File size 34KB) Read it in:

Aspects of Land Consolidation in Bulgaria
An executive summary of the FAO Comparative Study on Land Fragmentation in Four CEECs: Bulgaria, Czech Republic, Hungary and Romania.
2000 (File size 137KB) Read it in:

Rules, Regulations and Transaction Costs In Transition Bulgaria
by Yordanka Gancheva, IME
The main objective of the study was to identify and estimate the transaction costs of small businesses in Bulgaria, i.e. the costs of time and financial resources needed to enter, operate in or get out of business which result from the regulatory framework and the interaction of firms with public institutions. The survey is based on interviews with 121 micro and small companies in different locations in Bulgaria.
2000 (File size 265KB) Read it in:

The Shadow Economy in Bulgaria
Harvard University, Agency for Economic Analisys and Forcasting, IME
The objective of this study is to estimate the size of the informal sector in Bulgaria, its structure, the incentives for its development and the effect on the economic growth and the competitiveness of the economy in Bulgaria. The study also analyzes some of the effects of the tax and social insurance system, effects of labor contracting and wage level as well as effects of the administrative costs.
2000 (File size 203KB) Read it in:

The Economic and Social Impact of Refugees on the Host Country: Bulgaria
The objective of this report and the surveys upon which it is based is to help rethink the role of refugees in Bulgaria and other societies. This report takes Bulgaria as a model country and aims to assess the impact of asylum seekers and refugees. As one of the few such reports written, and the first for Bulgaria, it is focused on the identification of costs related to refugees as they apply to the refugees themselves, to government institutions (not only those that deal exclusively with refugees but also those that have more or less remote input to the refugee process), and to non-governmental and international organizations.
2000 (File size 119KB) Read it in:

Mortgage Financing in Bulgaria
by Tzveta Dimitrova, Martin Dimitrov, IME; Daniela Vladimirova, DSK Bank, Dr. Krassen Stanchev, IME (editor)
The paper provides detailed analysis of the development of the mortgage financing and housing markets in Bulgaria. It is focused on the legal aspect and provisional impact of the Mortgage Bonds Law, the historical developments of mortgage financing in the country as well as on the current status of Bulgarian housing and construction industry.
2000 (File size 309KB) Read it in:

Municipal Entry Barriers and Systemic Sources of Corruption
The study provides an overview of existing barriers to enter the market arising from contacts with the public administration on municipal level. It also suggests policy steps for their reduction and elimination in future.
2000 (File size 253KB) Read it in:

Evaluation of the post-privatization monitoring system in Bulgaria
IME, Center for Social and Economic Research (Poland)
The goal of the study is to evaluate how privatization bodies have monitored and enforced non-price requirements laid down in privatization contracts and their impact over company strategies. It provides insights into the legal and institutional framework of post-privatization control. The paper also analyses the commitments most frequently included in privatization contracts, as well as the system of reporting and sanctions. The study is based on interviews with 11 company managers and representatives of privatizing institutions.
2000 (File size 214KB) Read it in:

Fiscal Effects from Privatization: Cases of Bulgaria and Poland
IME, Center for Social and Economic Research (Poland)
The study is to verify and update conjunctions between declared priorities, applied strategies and the fiscal effect of privatization. It includes an evaluation of the fiscal effects of privatization in both countries in the period since the very beginning of the process, i.e. in the case of Poland since 1990 and in the case of Bulgaria since 1993.
(File size 1774KB) Read it in:

Pension Reform Models in Latin America and Central and Eastern Europe
by George Stoev, Krassen Stanchev, IME
The paper provides a background overview of pension reforms in Latin America and Central and Eastern Europe, as well as macroeconomic considerations at the outset of Bulgarian pension system reform.
1999 (File size 24KB) Read it in:

Legal and Regulatory Reform: Impacts on Private Sector Growth
IME
The report is the first attempt for a comprehensive overview of the legal and regulatory reforms in the country from the point of view of their impact on private sector development in 1998-1999.
2000 (File size 52KB) Read it in:

Conditions for Long-term Growth and Prosperity in the Balkans.
In Search of Growth: Bulgaria's Lessons and Policy Options.
IME
A comprehensive overview of macroeconomic and institutional developments in Bulgaria after the Kosovo crisis.
1999 (File size 52KB) Read it in:

The Balkans in 2010: Economic Scenarios
by Krassen Stanchev, IME
The immediate objective this report is to outline economic development scenarios for the Balkans for the period from 1999 to 2010. Furthermore, it aims at initiating long-term thinking on the future of the Balkans, sustaining a debate on different development paths, provoking indigenous ideas on how to overcome past and current divisions and disparities, advocating approaches and policies that would prevent worst-case developments, helping to avoid the previous shortcomings of actions already taken, and support longer-term security and prosperity scenarios.
1999 (File size 117KB) Read it in:

Bulgaria in 1998: Economic Situation and Developments
The report is an attempt to reflect country’s economic development in a broader institutional perspective, not merely extrapolating current trends but rather taking into account policies, an international context and the administrative capacity to follow certain policy paths. The goal of the paper is to provide an orientation, rather than a full account of possible developments.
1998 (File size 82KB) Read it in:

Reform In The Social Security System
A paper focused on the problems of the Bulgarian social security system and the effects of possible retirement age increase. It examines structural disproportion in the social security system and puts emphasis on the need for establishment of separate Pension Fund.
1997 (File size 62KB) Read it in:

Bulgaria: Current Economic Situation and Long-term Growth Prospects
Our goal was to propose foundations for a long-term (fifteen years) country risk forecast. This is a first attempt for Bulgaria. The idea is to follow probable scenarios in order to give recommendations on policies geared toward avoiding negative developments.
1997 (File size 225KB) Read it in: