Institutional Reform and the Cycle of Money: Insights from Eastern Europe
Keywords:
Ideology, Moral, Spiritual Experiences, Phenomenon, Social Renewal, National Traditions, Development, Ideological Immunity, Human DignityAbstract
This paper explores the intersection of institutional reform and the cycle of money, drawing on the experiences of Eastern European countries like Poland and Bulgaria. It highlights the crucial distinction between enforcement and escape savings and their impact on economic stability. Enforcement savings, which remain within the local banking system, support large corporations in manufacturing and specialized activities, leading to high money distribution and reuse, thereby accelerating the money cycle and enhancing economic stability. Conversely, escape savings divert funds away from the local economy, weakening its structure and reducing money circulation. The study underscores the importance of balanced regulatory and tax policies in promoting enforcement savings and minimizing escape savings. By comparing the gradual reform approach of Poland with the rapid, tumultuous transition of Bulgaria, the paper illustrates the significance of well-managed institutional reforms in achieving economic stability and growth. Both countries achieved an appropriate result, but the rapid changes making more difficult the lives of the citizens. The findings suggest that a strong banking system and appropriate regulatory policies are essential for optimizing the money cycle and fostering a robust economic structure. The same happened with the countries that faced the Troika, meaning that the rapid changes made social life more difficult. The result is the same, but the taxpayers have more burden when changes happen faster.
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Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 8 February 2004,” SSRN Electron. J., 2024.
C. Challoumis, “Comparisons of Cycle of Money with and Without the Maximum and Minimum Mixed Savings,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3158399.
Challoumis, Constantinos, “A complete analysis of comparisons between velocities with and without the mixed savings,” SSRN Electron. J., 2018.
C. Challoumis, “Cycle of Money with Mixed Savings,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3157974.
C. Challoumis, “Arm’s Length Principle and Fix Length Principle Mathematical Approach,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3148276.
C. Challoumis, “Impact Factor of Liability of Tax System (Stable Tax System),” SSRN Electron. J., pp. 1–7, 2018, doi: 10.2139/ssrn.3143985.
C. Challoumis, “The Theory of Cycle of Money Without Enforcement Savings,” SSRN Electron. J., pp. 1–10, 2018, doi: 10.2139/ssrn.3151945.
C. Challoumis, “Η Οικονομοκρατία ως Νέα Οικονομική Πολιτική: Θεωρητική Ανάλυση και Σύγκριση με Παραδοσιακά Συστήματα - Economocracy as a New Economic Policy: Theoretical Analysis and Comparison with Traditional Systems,” SSRN Electron. J., 2024, [Online]. Available: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4904195.
C. Challoumis, “Economocracy,” SSRN Electron. J., 2018.
C. Challoumis, “Curved space economy,” SSRN Electron. J., pp. 1–9, 2018.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 29 February 2004,” SSRN Electron. J., 2024.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 18 April 2004,” SSRN Electron. J., 2024.
Challoumis, Constantinos, “Theoretical Definition of the Equations of Cycle of Money, of Minimum Escaped Savings and of Velocity of Financial Liquidity,” SSRN Electron. J., pp. 1–7, 2018, doi: 10.2139/ssrn.3159200.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 2 May 2004,” SSRN Electron. J., 2024.
C. Challoumis, “Controlled Transactions Under Conditions,” SSRN Electron. J., pp. 1–10, 2018, doi: 10.2139/ssrn.3137747.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 1 February 2004,” SSRN Electron. J., no. February 2004, 2024.
C. Challoumis, “Intangible Controlled Transactions,” SSRN Electron. J., pp. 1–9, 2018, doi: 10.2139/ssrn.3140026.
C. Challoumis, “Rest Rewarding taxes,” SSRN Electron. J., pp. 1–6, 2018.
C. Challoumis, “Impact Factor of Risks of Tax System,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3145207.
Challoumis, Constantinos, “Comparisons of cycle of money with and without the minimum mixed savings,” SSRN Electron. J., 2018.
C. Challoumis, “Impact Factor of Costs to the Tax System,” SSRN Electron. J., pp. 1–7, 2018, doi: 10.2139/ssrn.3146573.
Challoumis, Constantinos, “The survey of Radical-Marxist mostly empirical literature of the last Greek economic crisis,” SSRN Electron. J., 2016.
Challoumis, Constantinos, “Cycle of money with the velocities of the escaped savings and of the financial liquidity,” SSRN Electron. J., 2018.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiating on 25 January 2004,” SSRN Electron. J., no. January 2004, 2024.
Challoumis, Constantinos, “Fuzzy logic concepts in economics,” SSRN Electron. J., 2015.
C. Challoumis, “Comparison between the Velocities of Escaped Savings with Than of Minimum Financial Liquidity,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3159572.
C. Challoumis, “Rewarding taxes for the cycle of money and the impact factor of the rest rewarding taxes,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3154122.
C. Challoumis, “Conditions of the CM (Cycle of Money),” Soc. Econ. Stud. within Framew. Emerg. Glob. Dev. Vol. -1, pp. 13–24, 2022.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 14 March 2004,” SSRN Electron. J., 2024.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 21 March 2004,” SSRN Electron. J., no. March 2004, 2024.
C. Challoumis, “Q.E. (Quantification of Everything ) Method and Econometric Analysis,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3150101.
C. Challoumis, “Analysis of Tangibles and Intangibles Transactions Subject to the Fixed Length Principle,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3142960.
Challoumis, Constantinos, “Theoretical definition of the velocities of escaped savings with than of financial liquidity,” SSRN Electron. J., 2018.
C. Challoumis, “Comparisons of utility of cycle of money with and without the enforcement savings,” SSRN Electron. J., pp. 1–10, 2019, doi: 10.2139/ssrn.3420124.
Challoumis, Constantinos, “Rational economics in comparison to the case of behavioral economics (Keynesian, and Neoclassical approaches),” SSRN Electron. J., 2018.
C. Challoumis, “The Great Depression from Keynes, Minsky and Kalecki Approach,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3133379.
C. Challoumis, “Mathematical background of the theory of cycle of money,” SSRN Electron. J., 2021, [Online]. Available: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3902181.
C. Challoumis, “Essential points of the theory of the CM (Cycle of Money) Βασικά στοιχεία της θεωρίας του ΚΧ (Κύκλου Χρήματος),” SSRN Electron. J., pp. 5–24, 2023.
C. Challoumis, “Methods of Controlled Transactions and Identification of Tax Avoidance,” SSRN. 2018, doi: 10.2139/ssrn.3134109.
C. Challoumis, “The Theory of Cycle of Money,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3149156.
Challoumis, Constantinos, “Comparisons of cycle of money with and without the maximum and minimum mixed,” SSRN Electron. J., 2018.
C. Challoumis, “Evolution From Axiomatics to Multiple Axiomatics (Q.E. Method),” SSRN Electron. J., 2024, doi: 10.2139/ssrn.4656098.
Challoumis, Constantinos, “Rewarding taxes for the cycle of money and the impact factor of the health,” SSRN Electron. J., 2018.
C. Challoumis, “Impact factor of costs to the tax system,” SSRN Electron. J., 2018.
C. Challoumis, “Comparison between the Cycle of Money with and Without the Enforcement Savings,” SSRN Electron. J., pp. 1–8, 2018, doi: 10.2139/ssrn.3174087.
Challoumis, Constantinos, “Selfcure economies and the E.U. economy (bonded economies),” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Comparison between the velocities of escaped savings with than of financial liquidity to the case of mixed savings,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Comparison between the velocities of maximum escaped savings with than of financial liquidity to the case of mixed savings,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Economocracy or World Wars?,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Cycle of money with the velocities of the escaped savings and of the financial liquidity considering maximum mixed savings,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Cycle of money with the velocities of the minimum escaped savings and of the financial liquidity,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Multiple Axiomatics Method in the Sense of Fuzzy Logic,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Cycle of money with the velocities of the escaped savings and of the financial liquidity considering minimum mixed savings,” SSRN Electron. J., 2018.
C. Challoumis, “Quantification of Everything (A Methodology for Quantification of Quality Data with Application and to Social and Theoretical Sciences),” SSRN Electron. J., pp. 1–8, 2018, doi: 10.2139/ssrn.3136014.
C. Challoumis, “Chain of Cycle of Money,” SSRN Electron. J., pp. 1–14, 2018, doi: 10.2139/ssrn.3157657.
C. Challoumis, “Impact Factor of Sensitivity of Tax System (The Bureaucracy),” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3143209.
C. Challoumis, “An Analysis of Panel Data with Econometrics,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3123469.
C. Challoumis, “The Commerce in the Middle Ages from the View of Richard Cantillon’s Approach,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3261911.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 22 February 2004,” SSRN Electron. J., no. February 2004, 2024.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiating on 18 January 2004,” SSRN Electron. J., 2024.
Challoumis, Constantinos, “Comparisons of cycle of money with and without the maximum mixed savings,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Comparison between the velocities of escaped savings with than of financial liquidity,” SSRN Electron. J., 2018.
C. Challoumis, “Impact Factor of the Education,” SSRN Electron. J., pp. 1–10, 2018, doi: 10.2139/ssrn.3155238.
Challoumis, Constantinos, “Principles for the authorities and for the controlled transactions (Maximization of utility of economy and maximization of utility of companies of controlled transactions),” SSRN Electron. J., 2018.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 28 March 2004,” SSRN Electron. J., no. March 2004, 2024.
C. Challoumis, “Impact Factor of Intangibles of Tax System,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3144709.
C. Challoumis, “Transfer Pricing Methods for Services,” SSRN Electron. J., pp. 1–9, 2018, doi: 10.2139/ssrn.3148733.
C. Challoumis, “A Complete Analysis of Cycle of Money,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3152588.
C. Challoumis, “Analysis of Impact Factors of Global Tax Revenue,” SSRN Electron. J., pp. 1–16, 2018, doi: 10.2139/ssrn.3147860.
C. Challoumis, “Utility of Cycle of Money,” SSRN Electronic Journal. 2018, doi: 10.2139/ssrn.3155944.
C. Challoumis, “Tangibles and Intangibles in Controlled Transactions,” SSRN Electron. J., pp. 1–9, 2018, doi: 10.2139/ssrn.3141198.
Challoumis, Constantinos, “Representative Economocracy,” SSRN Electron. J., 2017.
C. Challoumis, “Το τρίτο νόμισμα,” SSRN Electron. J., 2010.
Challoumis, Constantinos, “Comparisons of utility of cycle of money with and without the enforcement savings,” SSRN Electron. J., 2018.
C. Challoumis, “Impact Factor of Health to the Cycle of Money,” SSRN Electron. J., vol. 11, no. 2, 2018, doi: 10.2139/ssrn.3155246.
Challoumis, Constantinos, “Money markets versus Bond Markets: Comparison of the two markets and identification of possible similarities, differences and special characteristics. Description of how they affect and how they are affected by monetary policies,” SSRN Electron. J., 2016.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 4 April 2004,” SSRN Electron. J., no. April 2004, 2024.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiating on 11 January 2004,” SSRN Electron. J., 2024.
Challoumis, Constantinos, “Multiple axiomatics method through the Q.E. methodology,” SSRN Electron. J., 2018.
C. Challoumis, “Elements from Savings to Escape and Enforcement Savings – Στοιχεία από τις Αποταμιεύσεις στις Εκφεύγουσες και Ενισχυτικές Αποταμιεύσεις,” SSRN Electron. J., 2023.
C. Challoumis, “Utility of Cycle of Money without the Enforcement Savings,” SSRN Electron. J., pp. 1–10, 2018, doi: 10.2139/ssrn.3156629.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 11 April 2004,” SSRN Electron. J., 2024.
Challoumis, Constantinos, “Behavioral Economics concepts,” SSRN Electron. J., 2015.
C. Challoumis, “Cycle of Money with the Minimum Mixed Savings,” SSRN Electron. J., pp. 1–11, 2018, doi: 10.2139/ssrn.3158175.
Challoumis, Constantinos, “How to avoid an economic global crash? The case of Economocracy (Representative),” SSRN Electron. J., 2020.
C. Challoumis, “With and without the mixed savings of the money cycle,” SSRN Electron. J., pp. 1–9, 2018.
Challoumis, Constantinos, “The theory of cycle of money without escaping savings,” SSRN Electron. J., 2018.
C. Challoumis, “With and Without Rest Rewarding Taxes,” SSRN Electron. J., pp. 1–8, 2023, doi: 10.2139/ssrn.4438664.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiating on 4 January 2004,” SSRN Electron. J., no. January 2004, 2024.
C. Challoumis, “Impact Factor of Liability of Tax System According to the Theory of Cycle of Money (Short Review),” SSRN Electron. J., pp. 5–24, 2017, [Online]. Available: http://repo.iain-tulungagung.ac.id/5510/5/BAB 2.pdf.
C. Challoumis, “Theoretical Definition about the Velocities of Minimum Escaped Savings with Than of Financial Liquidity,” SSRN Electronic Journal. 2019, doi: 10.2139/ssrn.3421113.
Challoumis, Constantinos, “Theoretical definition about the velocities of minimum escaped savings with than of,” SSRN Electron. J., 2018.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 15 February 2004,” SSRN Electron. J., no. February 2004, 2024.
C. Challoumis, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 25 April 2004,” SSRN Electron. J., no. April 2004, 2024.
Challoumis, Constantinos, “Utility of cycle of money without the escaping savings,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Comparison between the velocities of escaped savings with than of maximum financial liquidity to the case of mixed savings,” SSRN Electron. J., 2018.
C. Challoumis, “Comparisons of Cycle of Money,” SSRN Electron. J., pp. 1–11, 2018, doi: 10.2139/ssrn.3153510.
C. Challoumis, “Η συμμετοχή της Ελλάδας στην Ε.Κ. από το 1981 έως το 1985,” SSRN Electron. J., 2018.
Challoumis, Constantinos, “Economic Technical Report of Cycle of Money – The case of Greece - Week initiated on 7 March 2004,” SSRN Electron. J., 2024.
C. Challoumis, “A Complete Analysis of Utility of Cycle of Money,” SSRN Electron. J., 2018, doi: 10.2139/ssrn.3157173.
C. Challoumis, “Cycle of money with the velocities of the escaped savings and of the financial liquidity considering mixed savings,” SSRN Electron. J., 2018.
C. Challoumis, “Utility of Cycle of Money without the Escaping Savings (Protection of the Economy),” SSRN Electron. J., no. 2, pp. 1–45, 2018.
Challoumis, Constantinos, “Cycle of money with the velocities of the escaped savings and of the minimum financial liquidity,” SSRN Electron. J., 2018.
