Long-Term Impact of the European Funds on Bulgaria's Economy

Kalina Durova
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Kalina Durova: South-West University Neofit Rilski, Bulgaria

Economic Alternatives, 2018, issue 3, 325-333

Abstract: The objective of this paper is to estimate the long-term effects of the funds of the European Union (EU) on the economy of Bulgaria. The influence of EU funding on capital stock, total factor productivity (TFP) and potential output has been assessed through a methodology based on a two-factor Cobb-Douglas production function. The impact of EU funds on the rates of long-term unemployment and natural unemployment has been also estimated by an OLS regression of time series data. The research results imply that the absorbed EU financing has a positive influence on potential output and TFP and a negative influence on potential employment and long-term unemployment rate.

Keywords: European funds; long-term effects; long-term Impact (search for similar items in EconPapers)
JEL-codes: F02 F15 F36 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:eajour:y:2018:i:3:p:325-333

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