№ ДО02-302

Project number

ДО 02-302/18.12.2008 г.

Project subject

STATUS AND PROBLEMS OF PAYMENTS BALANCE OF BULGARIA IN THE CONTEXT OF MEMBERSHIP IN EUROPEAN UNION

Project term of execution

36 months

Short description

The substance of the project involves research on the key factors, determinants, effects and risks, which determine the present status of the balance of payments and which reflect on the macro-economic development of Bulgaria in the context of the process of convergence of our country to the Eurozone. The various studies and analyses in its entirety will be aimed at achieving the primary objective of the project:
"Full and thorough examination of the situation and problems with the balance of payments of the Republic of Bulgaria in the context of Bulgaria's EU membership and formulation of significant findings and recommendations on the measures which the responsible national authorities, in the field of financial policy, should take to restrain and overcome the current account deficit of the balance of payments".
Problem areas is relatively little studied in our country, which is a great challenge to the scientific team and premise that, along with the use of traditional research methods, there will be applied innovative models to measure the sustainability of the current account deficit of the balance of payments.
In its entirety, the research project will be based on a multidisciplinary approach that will provide practical and scientific focus on results. The team has set itself the task to introduce governing bodies, in the field of financial policy, with the methodology of this research, the expected results and the possibilities for practical application of concepts and ideas of the project. In this regard, the scientific team will publish a comprehensive scientific study on problem set, which shall take into account the opinions of leading experts from the practice so that the results not only remain effective concepts.

Keywords

Balance of payments, current account, deficit, financial policy, macroeconomic development, convergence, eurozone, foreign direct investments, EU funds, currency board system.

Project stages
 (terms, results and funding)

First stage – 18 moths, total cost fоr this stage - 130 000 lv. Expected results:

1. Preparation of an appropriate methodology for conducting research in specific tasks of the project
2. Elaboration of complete scientific research containing the main findings of the survey made and existing trends
3. Elaboration of analysis of the peculiarities of the balance of payments in a currency board system
4. Analysis of empirical information about the impact of the tourism sector on the status of balance of payments
5. Analysis of empirical information about the capacity of the administration for absorption of EU funds
6. Conducting scientific seminar with more than 80 participants from all stakeholders
7. Promoting the results of the studies conducted among Bulgarian and foreign economic communities.

Second stage – 18 moths, total cost of the stage 127 000 lv. Expected results:

1. Establishment of a specialized library of books available to professors and students after completion of the project
2. Elaboration of an analysis on the factors leading to the sustainability of the current account deficit
3. Elaboration of an analysis on the impact of FDI on the current account deficit
4. Research on the impact of tourism on the current account balance of payments and problems arising from the share of the underground economy in the sector
5. Research on the correlation between the absorption capacity of EU funds and the current account deficit of the balance of payments
6. Elaboration of a final report containing results and conclusions of the research work and recommendations
7. Publishing of a book and disk editions, containing the final report
8. Promoting the results and findings of the research work
9. Conducting final international conference and promote the results and conclusions made by scientific research

Information about the funding programme

National Science Fund
Competition IDEAS

Information about an additional funding

Additional funding - not available

Total value of
the project - I stage

130 000 BGN

Total sum granted to UNWE

9 100 BGN

Information about the responsible subdivision

Information about the partners of the project

None

Project manager

Assoc. Prof. Trifonova, Silvia, PhD – UNWE

Project body (project team members)