The recent pressure on public finances in Bulgaria has exposed the need for a performance-based system of public funding for higher education. This article estimates the relative technical and cost efficiency of Bulgarian universities and explores the correlation between public funding and...

This paper examines the relationship between output volatility and growth using regional data from South Korea over the period 1985-2003. The estimation is conducted using volatility that varies across regions as well as across time. The findings indicate that provinces with higher volatility...

Bulgaria and Romania are neighbouring countries, which have always been rivals. Following the decision on EU enlargement to include Bulgaria and Romania (late 1999) and with membership negotiations already started (2004), the race between the two countries gained momentum and comparisons of...

The paper examines the efficiency of Bulgarian banks and its determinants over the period 1999-2007. The levels of technical, allocative, and cost efficiency are first estimated using a nonparametric methodology and then regressed upon a number of bank-specific, institutional, and EU-related...

After more than two decades of transition and integration, countries in Central and Eastern Europe (CEE) still exhibit income levels that are significantly lower than the European Union (EU) average. This paper examines convergence in per-capita GDP between CEE and the EU over the period...