Evaluation of the Efficiency of the Bulgarian Economy Through the InputOutput Model

Abstract

The assessment of the development of a national economy is of particular importance not only in order to trace the past development of this economy. Such an assessment provides equally important information in relation to the designing (planning) of the future development of this economic system. The assessment of the development of the functioning of an economic system is a process that requires the application of an adequate methodology, accompanied by a correct selection of the methods and indicators that will be used. Depending on the objectives of the study and the available information, different aspects of the functioning and development of a national economy can be studied and evaluated. One of the categories frequently used for research is the efficiency, which is in the focus of the present study. The assessment of the efficiency of the Bulgarian economic system is made using the input-output model and the opportunities that the components of this model provide. The main advantage of the model used is that it can measure efficiency not only for the Bulgarian economic system as a whole, but also can analyze and assess the efficiency levels for each economic sector.