Foreign trade constraints on economic growth of Bulgaria

Viktor Dinev ()
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Viktor Dinev: South-West University “Neofit Rilski”, Blagoevgrad, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2018, issue 1, 28-42

Abstract: A regression analysis is used to assess the elasticity for exports and for imports of Bulgarian, as the long-term equilibrium economic growth of the country is established, according to Thirlwall’s law. The testing is made with two samples of data to confirm the hypothesis in the paper, that the Euro area debt crisis negatively affected Bulgarian economy in the long term and limited its economic growth. The thesis is maintained, that an economic policy, based on export-oriented growth, is suitable for Bulgarian economy, in order of the current economic and political conditions. A diversification of Bulgarian export markets and an application of Bulgaria for Euro area are recommended.

Keywords: foreign trade of Bulgaria; exportoriented growth model; debt crisis in the Euro area; regression analysis (search for similar items in EconPapers)
JEL-codes: F14 F17 G01 O24 O40 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2018:i:1:p:28-42

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