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The Economy of Bulgaria

Structural Funds, Growth And Cyclical Recurrence

Ivan Todorov, Kalina Durova and Aleksandar Aleksandrov

Open access

Beate Jochimsen

Abstract

Federalism is always torn between the principles of subsidiarity and solidarity. Defining the federal structure of a country by finding the welfare-maximizing amount and design of government layers is challenging. Thereby, the financial endowment of different layers of government which they need to fulfill their respective tasks is an important aspect. European countries have chosen quite different federal designs to address the question of an optimal degree of fiscal decentralization. The aim of this paper is to analyze these different approaches for Germany, Italy, and the European Union. Parallels can be found in that all the three entities share a form of institutional asymmetry, a kind of fiscal bailout system, and a sort of fiscal equalization scheme.

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Patrick Idode and Gbenga Sanusi

-1281. Stern R., 2017, Balance of Payments: Theory and Economic Policy , Routledge. Ugur M., 2014, Corruption’s direct effects on per-capita income growth: A meta-analysis , Journal of Economic Surveys, 28(3), pp. 472-490. Wang C., Hong J., Kafouros M., Wright M., 2012, Exploring the role of government involvement in outward FDI from emerging economies , Journal of International Business Studies, 43(7), pp. 655-676.

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Nil Baran Acarali, Emre Ozturk, Melek Bardakci, Mehmet Burcin Piskin and Nurcan Tugrul

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Grażyna Osbert-Pociecha

References 1. Ashkenas R. (2010), Ograniczanie złożoności: w dążeniu… , „Harvard Business Review Polska” 2010 nr VI. 2. Crozier M. (1993), Przedsiębiorstwo na podsłuchu. Jak uczyć się zarządzania postindustrialnego. PWE Warszawa. 3. Eisenhardt K.H., Sull D.N. (2001), Strategy as Simple Rules , “Harvard Business Review”, No. I. 4. Foster R., Kaplan S. (2003), Twórcza destrukcja , Galaktyka. Łódź. 5. Gottfredson M., Aspinall K. (2006) Innowacje a złożoność operacyjna

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Khalid Aboura, Johnson I. Agbinya and Ali Eskandarian

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Petra Šparl, Anja Žnidaršič, Helmut Kasper, Jürgen Mühlbacher and Jure Kovač

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Lyudmyla Malyarets, Oleksandr Dorokhov, Vitaliya Koybichuk and Liudmyla Dorokhova

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Borivoje D. Krušković and Tina Maričić

References 1. Andres, J., Lopez-Salido J.D. & J. Valles. (2006). Money in an Estimated Business Cycle Model of the Euro Area. The Economic Journal. 2. Clarida, R., Jordi, G. & M. Gertler (2000). Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory. Quarterly Journal of Economics 115. 3. Fabris, N. (2006). Central Banking in Theory and Practice. Central Bank of Montenegro. 4. Favara, G. & P. Giordani. (2009). Reconsidering the Role of Money for Output, Prices and Interest

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Adriana Csikósoya, Katarina Ćulkoya and Maria Antośoya

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