Search

Research background: The globalization of the European countries within the EU and the Eurozone is primarily economic and is expressed by the free trade and the movement of capital and labour, which determines the incomes and the GDP. Globalization and its impact on inequality is becoming an essential and problematic issue, especially in the context of on-going economic integration processes between the countries in Europe, which seek to converge their economic, social and political systems in the Euro area. The process of inequality has become even more relevant in the context of globalization. Purpose of the article: The paper aims to examine the impact of globalization on the inequality in the developed and the emerging economies in Europe. Methods: On the basis of an econometric assessment, a comparative analysis of the effect of globalization on the inequality in the developed European countries and the emerging countries is carried out. Findings & Value added: The paper analyses the essential aspects and the effects of the income inequality dynamics, both horizontally and vertically. It also addresses the question of whether the effect of globalization on the economic growth and the inequality is the same for the developing and the developed countries, respectively. Based on the research, seven important conclusions are reached.

Any anti-crisis macroeconomic policy includes monetary and fiscal policy. The construction of anti-crisis macroeconomic policy in the conditions of a small open economy in a currency board and a virus pandemic raises the question of which measures should be the foundation and which measures should play a complementary macroeconomic role. This issue is extremely important because it predetermines both the efficiency and effectiveness of counter-cyclical policy. This study deals with the structuring of the main and complementary role of the fiscal and monetary policy in the general anti-crisis policy of Bulgaria. The focus is on 2020, looking at the impact of aggregate fiscal multiplier and monetary measures on GDP, based on extrapolation. A mathematical analysis is realized, which leads to quantitative results that illustrate the impact of fiscal and monetary policy on GDP development in a predictable short-term period which covers 2020 on a quarterly basis. [ABSTRACT FROM AUTHOR]

The tourism industry has a priority for the economic development of many countries in the world. The growing importance of the tourism industry, however, puts tourist destinations in front of a new challenge, which is terrorism. Starting from the new realities, this study explores the link between the risk of terrorism and the income from international tourism in Europe and the United States. The survey is a panel one and includes 37 countries. The empirical analysis is based on the regression crosssection analysis and the Granger Causality tests. The conclusion that is being made is that the risk of terrorism, respectively the terrorism, does not impact negatively on the tourism and the incomes from international tourism. The main argument is that the terrorism has its' creatively - destructive effect, which acts as an allocation of uncertainty in the different geographic regions, that are revised as a system of tourist destinations. [ABSTRACT FROM AUTHOR]