IDEAS home Printed from https://ideas.repec.org/a/ine/journl/v44y2017i53p45-77.html
   My bibliography  Save this article

Financing regional development and competitiveness: problems and challenges at macro and micro level in Bulgaria

Author

Listed:
  • Tatiana HOUBENOVA-DELISIVKOVA

    (The Economic Research Institute of the Bulgarian Academy of Sciences)

Abstract

The paper discusses the contemporary regional development of Bulgaria and regional financing by different national sources and European funds. The compliance with the EU requirements for attaining targeted results in specifically programmed priority areas is revealed as a driving force for improving the financial governance of regional development. The main tasks are to analyse the problems and prospects of the different types of regional development financing, their interdependence and overall impact on the regional production structures and social development. The issues of the efficiency and effectiveness of the decentralisation of public finances are analysed within the framework of the goals of sustainable regional development. By revealing the mechanisms and instruments of public financing the regional development some conclusions are made for the enhancement of fiscal coordination between the municipalities? and central Government authorities. The implementation of additional measures for more strict fiscal discipline at local level is considered with regard to improving the solvency of the municipalities„budgets and enhancing the capacity of the municipalities to manage their debts? repayment problems. Overcoming the shortage of municipalities'funding commitments and difficulties of meeting the obligations to serve due costs is discussed as an opportunity to improve the local finances. The role of public governance is revealed in order to consider the problems and future prospects for financing regional development. The methodology of the study involves the comparative analysis of the macro and micro financing of regional development and institutional and legal analysis of forms and schemes of public financing. In conclusion some problems and prospects are drawn for the public governance of Bulgaria in support of financing regional development.

Suggested Citation

  • Tatiana HOUBENOVA-DELISIVKOVA, 2017. "Financing regional development and competitiveness: problems and challenges at macro and micro level in Bulgaria," Romanian Journal of Economics, Institute of National Economy, vol. 44(1(53)), pages 45-77, June.
    • Handle: RePEc:ine:journl:v:44:y:2017:i:53:p:45-77
    as

    Download full text from publisher

    File URL: http://www.revecon.ro/articles/2017-1/2017-1-5.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Stoyan Totev, 2011. "Regional Differences and Regional Policy in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 33-52.
    2. David Bailey & Lisa De Propris & Roger Sugden & James Wilson, 2006. "Public Policy for Economic Competitiveness: An Analytical Framework and a Research Agenda," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(5), pages 555-572.
    3. Garabed Minassian, 2012. "Economy, Business and Management," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-26,27-48.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Roger Sugden, 2013. "Space in an inferno? The organization of modern universities and the role of academics," Chapters, in: Roger Sugden & Marcela Valania & James R. Wilson (ed.), Leadership and Cooperation in Academia, chapter 4, pages 43-57, Edward Elgar Publishing.
    2. Pitelis, Christos & Kelmendi, Pellumb, 2009. "The political economy of European anti-trust and industrial policy," MPRA Paper 23941, University Library of Munich, Germany.
    3. Christos N. Pitelis & Pellumb Kelmendi, 2011. "European Industrial Policy: Perspectives, Trends and a Sustainability-focused New Framework," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume II, chapter 2, Edward Elgar Publishing.
    4. Ruilian Zhang & Sandy Worden & Junzhuo Xu & John R. Owen & Guoqing Shi, 2022. "Social stability risk assessment and economic competitiveness in China," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-7, December.
    5. James R. Wilson & Mari Jose Aranguren & Mikel Navarro, 2015. "From Plan to Process: Exploring the Leadership Implications of RIS3," Working Papers 2015R01, Orkestra - Basque Institute of Competitiveness.
    6. Tatyana Houbenova-Delissivkova, 2013. "Clusters in the regional sustainable development: approaches and policies for their implementation," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-30,31-57.
    7. Jesús María Valdaliso, 2015. "Pertenencia a clústeres y comportamiento competitivo de las empresas: un estudio de seis asociaciones-clúster en el País Vasco," Working Papers 2015R02, Orkestra - Basque Institute of Competitiveness.

    More about this item

    Keywords

    regional development; regional planning; Government budget transfers; municipalities' own resources; EU funds for regional development.;
    All these keywords.

    JEL classification:

    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics
    • R5 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • L6 - Industrial Organization - - Industry Studies: Manufacturing

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ine:journl:v:44:y:2017:i:53:p:45-77. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valentina Vasile (email available below). General contact details of provider: https://edirc.repec.org/data/inacaro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.