Lazarov, Darko (2019) A Comparative Analysis of Macedonian and Bulgarian Growth Model: Current Perspectives and Challenges. In: Bulgarian - Macedonian Talks Conference, 24-27 Jan 2019, Prvets, Bulgaria. (Unpublished)
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Abstract
The main aim of the paper is to investigate the growth models of both countries in an comparative dimension
The growth accounting based on production, consumption and sector 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). The results of the demand-side approach analysis show that Bulgarian growth is based on household consumption and gross-investment with negative contribution of net-export, while the Macedonian growth is based on household consumption and government consumption with higher negative impact of the net-export on the economic growth.
Finally, 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.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Darko Lazarov |
| Date Deposited: | 03 Feb 2020 11:58 |
| Last Modified: | 03 Feb 2020 11:58 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/23658 |
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