Lazarov, Darko (2019) A Comparative Analysis of Macedonian and Bulgarian Growth Model: Current Perspective and Future Challenges. In: Bulgarian-Macedonian Talks, 24-27 January, 2019, Pravets, Bulgaria. (Submitted)
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Abstract
The main aim of the analysis is to investigate the growth models of both countries in an comparative dimension.
The growth accounting based on production, consumption and sectoral approach is applied to estimate the contribution of each factor which determinant the rate of economic growth. The estimated results show that Bulgaria has recorded better economic performance compare to Macedonia in the analyzed period. The Bulgarian growth is driven by quantitative factor (investments in physical capital) and qualitative factor (Total Factor Productivity), while the Macedonian growth is based only on quantitative changes (investments in physical capital and labour)
On the other side, the analysis of future growth potential indicate that the opportunities for long-run and sustainable economic growth is much obvious for Bulgaria than for Macedonia based on the analysis of export structure position of both countries.
Hence, the only way for Macedonia to obtain the long-run and sustainable economic growth is to increase the export competitiveness by export upgrading and productivity improvements.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Darko Lazarov |
| Date Deposited: | 21 Mar 2019 12:59 |
| Last Modified: | 21 Mar 2019 12:59 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/21824 |
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