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Macroeconomic Impacts on Bulgarian Agriculture during Transition


  • Nedka Ivanova
  • Philip Dawson
  • John Lingard


An unstable and erratic macroeconomy in an economy in transition might be expected to affect agricultural performance. This is tested for Bulgaria between 1992 and 1997 using impulse response functions from a vector autoregressive (VAR) model. Despite data limitations, it is found that shocks to the foreign exchange rate and interest rate feed into farm prices and agricultural exports but equilibrium will be re-established within 5 years. Agricultural policies may not be sufficient to counteract the wider macroeconomic forces.

Suggested Citation

  • Nedka Ivanova & Philip Dawson & John Lingard, 2003. "Macroeconomic Impacts on Bulgarian Agriculture during Transition," Applied Economics, Taylor & Francis Journals, vol. 35(7), pages 817-823.
  • Handle: RePEc:taf:applec:v:35:y:2003:i:7:p:817-823
    DOI: 10.1080/0003684032000050595

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    References listed on IDEAS

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    Cited by:

    1. Bakucs, Lajos Zoltan & Bojnec, Stefan & Ferto, Imre, 2006. "Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Slovenia," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25515, International Association of Agricultural Economists.
    2. Bakucs, Lajos Zoltan & Ferto, Imre, 2005. "The Influence of Macroeconomic Variables on the Hungarian Agriculture," 2005 Annual meeting, July 24-27, Providence, RI 19232, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Bakucs, Lajos Zoltan & Ferto, Imre, 2005. "Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24711, European Association of Agricultural Economists.
    4. Bakucs, Lajos Zoltan & Ferto, Imre, 2009. "Monetary Impacts and Overshooting of Agricultural Prices in a Transition Economy: The Case of Hungary," 2009 Conference, August 16-22, 2009, Beijing, China 51798, International Association of Agricultural Economists.

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