In a large resealable plastic bag, combine 4 tablespoons flour, paprika and pepper. Add beef, a few pieces at a time, and shake to coat.
In a Dutch oven, brown beef in oil over medium heat. Add the water, tomato paste, bouillon, 1-1/2 teaspoons basil, 3/4 teaspoon thyme, 3/4 teaspoon garlic powder and bay leaves. Bring to a boil. Reduce heat; cover and simmer for 1-1/2 hours or until meat is almost tender.
Add the potatoes, onions and carrots. Cover and simmer 30 minutes longer or until the meat and vegetables are tender.
Discard bay leaves. In a small bowl, combine the parsley, salt, and the remaining flour, basil, thyme and garlic powder. Add cold water; stir until smooth. Stir into stew. Bring to a boil; cook and stir for 2 minutes or until thickened. Yield: 6 servings.