The Productivity of Bulgarian Economy in the 2000-2014 Period: A Comparative Appraisal

Diana Genkova
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Diana Genkova: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2021, issue 1, 16-31

Abstract: The article presents a different approach to studying economic outputs and productivity. At the macro level, they are usually measured by GDP growth rates and other indicators derived from the aggregate. Unlike the orthodox approach, here the economic achievements are referred from economy functioning viewpoint, following the ratio between the main directions of using gross output. In such a way, we get an alternative approach to economic productivity, assessing it through the ratio between the types of societal needs served by the national economy. The direction of the change in this ratio is especially indicative, as it outlines the prospects for a national economy in terms of its capacity to develop production factors potential (labor and capital) within the country. We start from the real aspect of economic turnover, which is based on the primary effects of economic activity – the products (i.e. goods and services), not income. The object of analysis is the use structure of gross national economy output in the four main directions during the 2000-2014 period. The subject of analysis is Bulgaria’s economy productivity in light of the change in reproductive national economy potential, evaluated on a comparative basis. The comparative analysis was conducted on the economies of 25 European countries, almost all EU members. The results and assessments of the empirical analysis clearly outline that, in terms of the change in its reproductive capacity, the productivity of Bulgarian economy declined during the study period.

Keywords: national economy; economic productivity; total output; use of products; types of societal needs; comparative analysis (search for similar items in EconPapers)
JEL-codes: C1 E2 O5 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2021:i:1:p:16-31

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