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Foreign trade constraints on economic growth of Bulgaria

Author

Listed:
  • Viktor Dinev

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

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.

Suggested Citation

  • Viktor Dinev, 2018. "Foreign trade constraints on economic growth of Bulgaria," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 28-42, February.
    • Handle: RePEc:nwe:iisabg:y:2018:i:1:p:28-42
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    More about this item

    Keywords

    foreign trade of Bulgaria; exportoriented growth model; debt crisis in the Euro area; regression analysis;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • G01 - Financial Economics - - General - - - Financial Crises
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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