EU FUNDS AND ECONOMIC GROWTH IN BULGARIA
Abstract
In this study the financial resources from the Structural and Cohesion Funds which Bulgaria has received are analyzed, presented as expenditures from the EU budget and their link to economic growth is examined. Quarterly statistical data covering the period 2008-2014 is used, along with 28 observations. A standard linear regression is applied for the calculation of the coefficients and the interpretation of the results in the form of the least squares method. The results of the empirical analysis show that there is a proportional statistically significant link between the financial resources from the EU budget and the economic growth of Bulgaria. It is assumed that the expenditure incurred during the analyzed period under the Structural and Cohesion Funds has led to a 1% increase in the economic growth of the country.
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References
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