Chief Editor
  • Ognyan Simeonov
National Editorial Board
  • Ognyan Simeonov, UNWE
  • Elka Todorova, UNWE
  • Plamen Mishev, UNWE
  • Maya Lambovska, UNWE
  • Todor Nedev, UNWE
  • Christina Nikolova, UNWE
  • Dorina Kabakchieva, UNWE
International Editorial Board
  • Dr. Damian Stantchev
    Edinburgh NAPIER University, UK

  • Dr. Ivaylo Vassilev
    University of Southampton,UK

  • Prof. Dr. Irina Kuzmina-Merlino
    Transport and Telecommunication Institute, Riga

  • Milan Zdravkovic
    University of Niš, Serbia

  • Prof. Dr. Niculae Mihaita
    Bucharest Academy of Economic Studies, Romania

  • Prof. Ricardo Jardim-Gonçalves, PhD
    UNINOVA institute, New University of Lisbon, Portugal

  • Prof. Ing. Jaroslav Belás, PhD
    Tomas Bata University in Zlín, Czech Republic

  • Prof. Dr. John Rijsman,
    Tilburg University

  • Prof. Ing. Zdenek Dvorák, PhD
    University of Zilina, Slovak Republic

  • Prof. Dr. Zoran Cekerevac
    “Union – Nikola Tesla” University in Belgrade, Serbia

Bulgarian Municipalities’ Capacity to Invest and Factors Affecting Local Government Capital Spending for the Period 2003-2017
YEARBOOK OF UNWE
year 2018

Bulgarian Municipalities’ Capacity to Invest and Factors Affecting Local Government Capital Spending for the Period 2003-2017

Abstract

Since 2003, the level of local government investment in Bulgaria has increased substantially. On average for the period 2003-2017 local public sector accounted for about one-thirds of total public sector capital spending. However, the contribution of Bulgarian municipalities to the public sector investment shows significant differences as compared to the prevailing EU pattern. It was only in the last few years that the level of local public investment in Bulgaria started approaching the EU average, primarily as a result of resources coming from European funds. The main objective of this article is to overview municipal investment activity during the years 2003 through 2017 and to assess direct investment capacity of local governments in Bulgaria. In addition, key factors affecting the levels and dynamics of local government capital spending are also being examined.

JEL: H77, R51, O18

Keywords

municipal investment, direct investment capacity, local governments, fiscal decentralization, local revenue, local expenditure
Download Yearbook_2018_No08_P Nenkova, D Kalcheva.pdf
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ABSTRACTING AND INDEXING

ISSN (print): 1312-5486
ISSN (online): 2534-8949