Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

This paper investigates the existence and possible changes of day-of-the-week effect before and during the 2008 financial crisis. We use six regional equity markets of varying degrees of maturity. While for the sample period Bulgaria, Romania, Cyprus and Ukraine are clearly considered emerging...

We employ the spatial dynamic general equilibrium model RHOMOLO to estimate the economic impact of the 2021-2027 Cohesion Policy in Bulgarian NUTS-2 regions and analyse the implications for growth and development in Bulgaria. The main investment areas covered by the policy fall into the...

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...