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Efficiency of Production Factors Concerning the Gross Value Added in Bulgaria

Author

Listed:
  • Konstantin Kolev

    (UNIVERSITY OF FORESTRY, Sofia, Bulgaria)

  • Konstantin Kolev, Maya Tsoklinova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

Using Data Envelopment Analysis (DEA) oriented to input resources under variable returns to scale, the efficiency of production factors by administrative-territorial areas of Bulgaria as of 2021 in terms of gross value added (GVA) has been assessed. It is established that the factors of production are used effectively in only five of the 28 districts of Bulgaria. These efficiency regions are Vratsa, Gabrovo, Sofia, Sofia (capital) and Stara Zagora. The average value of the efficiency coefficient is 0.8178 and shows that the produced GVA in Bulgaria in 2021 should be achieved on average with 18.22% less production factors than the used ones – costs for acquiring fixed assets and employed persons. In connection with the latter, it is rational to direct production factors toward economic activities in which there are competitive advantages and potential for development on the territory of the respective area.

Suggested Citation

  • Konstantin Kolev & Konstantin Kolev, Maya Tsoklinova, 2023. "Efficiency of Production Factors Concerning the Gross Value Added in Bulgaria," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 5-16, December.
    • Handle: RePEc:nwe:iisabg:y:2023:i:4:p:5-16
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    More about this item

    Keywords

    efficiency; Data Envelopment Analysis; production factors; gross value added;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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