He has acquired MSc (1994) and PhD (2005) degrees in economics at UNWE. After working for a short period (1995-1996) in the Ministry of Economic Development as economic statistics expert he has enrolled in a PhD program (1997). Boshnakov has specialized additionally in the Central European University – Budapest, The University of Leicester, and the University of Essex. He has participated in over 15 applied research projects focused on various issues, e.g. international flows of production factors during market transition, inequality, income distribution and tax-benefit redistribution; hidden economy. He has published over 70 titles as book chapters, textbooks, journal articles, and conference papers.