ECONOMIC GROWTH IN TIMES OF CRISIS – MYTH OR REALITY IN THE BSEC COUNTRIES

Authors

Keywords
BSEC, GDP, open economy

Summary
The paper presents a study of the economic development of the countries from the Black Sea Economic Cooperation (BSEC) block as an opportunity to assess the rate and pace of their economic development and the opportunities for Bulgaria, Romania and Greece (the EU member-states in BSEC) to develop their growth potential. Especially important (in times of global financial and economic crisis) is the relation be¬tween the GDP and the ability of free foreign trade economies to establish growth factors. The study focuses on the economic potential within the BSEC in terms of the main trends and growth factors in the BSEC economies. The aim of this study is to provide a critical analysis of the economic development trends of the BSEC countries in terms of identification of key factors supporting economic growth in the 21st century. The study is structured in two parts. The first part presents a comparative monitoring analysis of the trends in the key macroeconomic indicators for the period 2003-2010 in the BSEC countries. The second part presents growth rate models of the BSEC countries in terms of the level of openness of their economies and the dynamics of their export and import flows.

JEL: F14, F41; F43
Pages: 19
Price: 3 Points

More titles

  • TRENDS IN THE DEVELOPMENT OF PROFITABILITY AND RISK PROFILE OF THE BANKING SECTOR IN OUR COUNTRY

    This paper discusses the impact of the financial crisis on the profitability and risk profile of the banking sector in our country. The problem is studied at two levels – at a macroeconomic level (the banking system as a whole) and at a microeconomic level (particular banks). An indicator is derived for a complex binding of profit and risk ...

  • ON EVOLUTION AND THE NEW CHALLENGES FACING BANK MARKETING IN THE AFTERMATH OF THE FINANCIAL CRISIS

    In times of a global financial and economic crisis and global banking collapse, effective bank marketing will be the key factor for successful stabilization of the ban-king system. The dynamic and volatile banking trends require a thorough reorganization of the concepts for strategic marketing planning and forecasting regarding customers, partners ...

  • RISK ASSESSMENT TOOLS FOR INVESTMENT SELECTION – THEORY AND PRACTICE

    The paper reviews risk assessment for selection of investments in terms of em-pirical derivation and estimation of beta coefficients on the capital market in Bulgaria. It aims to develop some theoretical aspects regarding risk assessment for investment se-lection as well as to provide empirical derivation and trend analysis of the beta ...