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General information

IME is the first independent economic think tank in Bulgaria (non-profit corporation Reg. #831344929 - March 15th, 1993, 729/XI/VI, p. 169). IME mission is to elaborate and advocate market approaches to the problems Bulgaria is facing in its economic transition.

IME objectives are to provide: independent assessment and analysis of the government's economic policies; a focal point for an exchange of views on market economics and relevant policy issues; and an internationally supported Bulgarian think thank which is widely respected for its expertise.


2001-2002 Priorities

• Competitiveness: Sector Analysis and Case Studies in Wines, Tourism, IT, Finance, Textile & Apparel, Canning and Microeconomic Conditions
• Decentralization, Regional Development, Private Provision of Public Services, Innovative Management Tools for Firms and Public Governance on Local level
• Creation of a ITCC to promote Applied Economics Research, Improvement of Economic Information and Education in Decision Oriented Managerial Approaches
• Regulation Impact Analysis and Legislative Corrections Studies
• Growth and Prosperity in the Balkans: Trade Facilitation, Initiation of Change, Monitoring and Advocacy

International

• IME is an initiator and co-founder of the Balkan Network of public policy institutes to study fragmented capital and finance markets, quasi-fiscal subsidies and informal labor market, impacts of different crisis situations and embargoes, disseminate ideas for regional cooperation and exchange.
• IME is a co-founder of the 3-E-Net (Emerging European Economies Network), a joint venture of seventeen policy institutes from eleven countries in the region to advocate market reforms.
• IME is a member of the Economic Freedom Network, and co-publisher of Economic Freedom of the World Annual Reports.
  

Pioneering Research

Responding to the need to maintain market orientation of the reforms and develop argument to support this orientation, IME was the first institution to research:

• Bulgarian Business Associations and Their Services (1993-1995)
• Transparency of Capital Markets (1993-1995, 1998)
• Barriers to Growth in the Balkans (1995-1997, in cooperation with the Balkan Network)
• Private Sector Transaction Costs (1996, 1999-2001)
• Informal Employment (1996-1997)
• Informal Credit Markets in Poor Regions (1995,1998-1999)
• Public Procurement Impacts on State Enterprise (1997)
• Creation of Competitive Clusters (1996-1998, 2000-2001)
• Regulation Impact Analysis (1999-2001)
• Border Crossing Procedures and Transport Costs (1996-1997)
• Bi-monthly Monitoring of the Business Environment (1999-2001)
• Refugee Impacts on Host Country (1999-2000)
• Mortgage Financing and Mortgage Bonds Act (1998-2000)
• Weekly Reviews of Economic Policy (2000-2001)
• Competitiveness of the Bulgarian Finance Sector (2001)
• Informal Economy of Bulgaria (2000-2001, in cooperation with AECD and Harvard University)
• Internet Provision of Economic Knowledge (2001)
• Costs Structures of the Healthcare Reform (upcoming)

IME Advocacy

In a coalition or alone IME contributed to the following:

• Information Disclosure and Anti-Fraud Provisions in Securities Regulations (drafted by IME and US SEC)
• Introduction of the Currency Board (advocacy and public awareness campaign)
• Deposit Guarantee Act (drafted by IME)
• Tax Reforms in 1997 and 1998 (advocacy and cost-benefit comparisons)
• 1998 SMEs Strategy (drafting sections on equal opportunities, competitiveness, fair government practices, low transaction costs)
• Competition Defense Act (three provisions ensuring better implementation)
• Draft Mortgage Bonds Act (drafted by IME)
• 1998 Reduction and Applicability of VAT and Social-welfare Taxation (drafted by IME)
• Regulation Impact Analysis, Legislative Corrections Studies and Corruption as a Systemic Phenomenon (grafting a Cabinet Decree and Provisions for the New Normative Acts Bill)

IME Key Services

In a coalition or alone IME contributed to the following:

• Analyses current political and macroeconomic developments;
• Observes and comments on current economic policies of the Bulgarian government, publishing a general overview of political and economic developments four times a year;
• Provides advice to the government and private agencies, investment banks, local and foreign investors, and embassies;
• Facilitates contacts between foreign investors and Bulgarian market or public institutions, between local and foreign economists and public policy institutes;
• Conducts company analysis and case studies on individual enterprises and sectors.
   

ITTC

Establishment of IME Innovative Training and Consulting Center (ITCC) is a realization of the IME's strategic priority for 2001-2002 to launch services to businesses and local government based on applied economic research. It is designed as a training and dissemination vehicle of IME, which applies information technology to enhance private sector capacity to cope with competition challenges, educate SME's, business associations and civic groups in innovative economic research; initiate a market for know-how transfer among business, local and central authorities.
 

IME Boards

• Members of the Board are: Andrei Evtimov, President, Cresta Consulting and Executive Director of Doverie Privarization Fund; Frank Bauer, President and CEO, Bulgarian American Enterprise Fund; George Zakhariev, President, BIT'S; Levon Hamparzumian, Executive Director Bulbank Unicredito Bulgaria, former Director of Privatization Agency, Deputy Minister of Economy, Director of Earnest & Yang Bulgaria; Martin Zaimov, Deputy-Governor of BNB, former Deputy Minister of Trade; Prof. Ilian Michov, INSEAD.
   
• IME Internal Audit is Stefan Kiuchukov, Attorney, Partner at Djingov and Partners.
   
• Some of the key IME Advisory Board members are: Margot E. Machol, President, Chesapeake Associates; Philippe Adhemar, Counselor Maitre Cour des Comptes; Charles H. Dallara, Managing Director, Institute of International Finance, Inc.; Dr. Allan Meltzer, Visiting Scholar, American Enterprise Institute; Michael J. Mussa, Director, Institute of International Economics, former Director of Research, IMF; Professor Dr. Joachim Hentze, Brawnschweig Universitaet; William Niskanen, Chairman, CATO Institute; Sir Alan Walters, Vice Chairman, AIG Trading Corporation.
   
• IME Auditor is Ernst & Young AFA

Personnel and Leadership

IME Executive Director is Krassen Stanchev, Ph.D., political scientist and former Member of Parliament, member of President Stoyanov's Economic Policies Council (1996-2001); awarded by Euromoney Publications as 'best 1996 individual analyst for Bulgaria'.

IME full-time Economists are: Assenka Yonkova, IME Research Director (Banking and Capital markets), Diana Kopeva, Ph.D., Senior Economist (Labor and Agri-economics), Latchezar Bogdanov, Senior Economist (Business Administration and Taxation), Dr. Friedrich Bauersachs (Property Rights, Regional and Agri-Economics); Maria Anguelova (Econometrics); Yordanka Gancheva (Transaction Costs) Martin Dimitrov (Privatization; Macroeconomics), Petya Mandova (Regulatory Impact Assessment); George Stoev (Enterprise Restructuring and Welfare Reforms); Pavlina Petrova is the Administrative Director and Yordanka Gancheva - Finance Manager. ITCC's Manager is Zora Blagoeva (International Economics and Project Management). Currently, there are 32 part-time collaborators working on different projects or managing some on-going activities, like publications, statistics, etc