Basic Economical Preconditions for Stimulation of Investment's Activity

Valentina Grozdeva

Economic Studies journal, 1999, issue 3, 94-119

Abstract: In order to investigate the importance of existing economic preconditions for the stimulation of investments in Bulgaria, mainly two of them have been considered in this study: (i) introduction of the Currency Board; (ii) revalorization of some assets and liabilities of the Bulgarian enterprises. Currency Board’s impact on the changes in the investment climate, on the economic behavior of the enterprises and on the choice of the admissible strategy has been studied. Results of the revalorization have been analyzed on three levels - for the enterprise (on the basis of actual data for 38 enterprises), for the country as a whole and for the public and private sectors of economy. A conclusion has been made for the extreme insufficient accountability of the inflation by the revalorization. So a new process of revalorization is necessary. Only at stable economical growth and well-developed structural reforms the outlined preconditions will be transformed in real conditions for the real stimulation of investments in Bulgaria.

Date: 1999
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