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Ivan Todorov, Alexander Alexandrov, Kalina L. Durova
FUTURE EURO AREA MEMBERSHIP OF BULGARIA IN TERMS OF THE BUSINESS CYCLE
Summary:
In the present paper, vector autoregression (VAR) is used to assess the extent to which Bulgaria’s economic cycle is synchronized with the one of the euro area (EA). The main fiscal and monetary factors affecting the coordination of the business cycles of Bulgaria and the EA are identified. Recommendations for macroeconomic policies are formulated to support the synchronization of Bulgaria’s economic cycle with the one of the EA and to prepare our country for the adoption of the euro.
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Kalina L. Durova
THE IMPACT OF ABSORBED EUROPEAN FUNDS ON THE ECONOMIC GROWTH OF BULGARIA AND NEW MEMBER STATES
Summary:
The aim of this research is to analyze the short- and long-term relationship between the absorbed European funds and the economic growth in the 11 new member states as a group, and in Bulgaria in particular, during the period 2014–2020. To achieve the aim of the research, we have adopted the autoregressive distributed lag (ARDL) model. The results show that, as public investments, the absorbed European funds have an impact on the economic growth of the 11 new member states in the short, but not in the long term. The relationship between the economic growth and the rate of absorption of European funds in Bulgaria indicates a short-term positive, but not long-term impact of the absorbed European funds on the rate of growth of the real GDP of our country.
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Kalina L. Durova
THE COHESION POLICY OF THE EUROPEAN UNION
AND INTER-REGIONAL DISPARITIES IN BULGARIA
Summary:
The article presents a theoretical analysis of the causes for inter-regional disparities and an empirical study on the impact of the EU Cohesion Policy on the standard of living in Bulgaria. It also gives some recommendations for maximizing the beneficial effect of this policy on the regions in our country. The author defends the thesis that the economic imbalances among regions cause social and demographic ones. Accordingly, the study focuses on the economic inter-regional differences and the way they are affected by the Cohesion (Regional) policy of the European Union as a tool utilized by the Community to achieve economic and social cohesion.
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Kalina L. Durova
Cohesion Policy of the European Union: Evolution, Challenges
and Prospects
Summary:
The article analyzes the historical development of the Cohesion (Regional) Policy of the European Union and outlines the main challenges and perspectives facing it. Recommendations are formulated for its improvement in the future.