Bulgarian GDP Expenditure Structure: Growth Impact and Convergence with Eurozone

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cris.sourceIdoai:journals.unwe.bg:article/1281
dc.creatorRaleva, Stelaen
dc.date2020-09-28
dc.date.accessioned2026-09-24T23:20:13Z
dc.date.available2026-09-24T23:20:13Z
dc.descriptionThe study represents an analysis of the Bulgarian GDP expenditure structure and its dynamics in the period 2000-2019. This structure is examined through two perspectives – its impact on economic growth in the short and long run, and its convergence with the one in the Eurozone. The relevance of structural convergence is interpreted in the context of its relation to the business cycle synchronization and the effectiveness of the future common monetary policy. The research methodology includes the assessment of the impact of GDP’s various components on the economic growth rate, the measurement of the rates of accumulation and consumption, and the evaluation of structural convergence through the indices of dissimilarity and divergence. Based on the empirical analysis, the conclusion is drawn that the high economic growth rate prior to 2009 was largely determined by the significant increase in investments, while during the following years there was a trend of growing decapitalization in the economy which had unfavorable implications for economic growth. At the same time the expenditure structure of the country’s GDP manifested an ever increasing convergence with the one in the Eurozone, which comes to show that the economy’s structural convergence appears to run counter to real convergence.en
dc.formatapplication/pdf
dc.identifierhttps://yb.unwe.bg/index.php/yb/article/view/1281
dc.identifier10.37075/YB.2020.1.10
dc.identifier.urihttps://ds.e-dnrs.org/handle/123456789/2058
dc.languageen
dc.publisherAcademic Publishing UNWE (AP-UNWE)en
dc.relationhttps://yb.unwe.bg/index.php/yb/article/view/1281/1272
dc.rightsCopyright (c) 2020 Stela Raleva (Author)en
dc.rightshttps://creativecommons.org/licenses/by/4.0en
dc.sourceYearbook of UNWE; No. 1 (2020); 167-191en
dc.subjectGDPen
dc.subjectExpenditure structureen
dc.subjectEconomic growthen
dc.subjectAccumulation rateen
dc.subjectConsumption rateen
dc.subjectStructural convergenceen
dc.subjectBusiness cycles synchronizationen
dc.subjectDissimilarity indexen
dc.subjectDivergence indexen
dc.subjectEurozoneen
dc.subjectC43 - Index Numbers and Aggregationen
dc.subjectE20 - Generalen
dc.subjectE22 - Investment • Capital • Intangible Capital • Capacityen
dc.subjectF43 - Economic Growth of Open Economiesen
dc.subjectO11 - Macroeconomic Analyses of Economic Developmenten
dc.subjectO47 - Empirical Studies of Economic Growth • Aggregate Productivity • Cross-Country Output Convergenceen
dc.titleBulgarian GDP Expenditure Structure: Growth Impact and Convergence with Eurozoneen
dc.typePeer-reviewed Articleen

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