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WHICH ARE THE WINNERS AND LOSERS AT CORPORATE LEVEL IN THE RECENT ECONOMIC CRISIS IN BULGARIA? 


Issue: 2018 N 4

Dimitar Zlatinov
Sofia University St. Kliment Ohridski

Abstract: The paper discusses the macroeconomic implications on the local corporate sector following the global financial and economic crisis of 2008. In order to outline the sectors that have lost and gained from the crisis, we use a descriptive statistical analysis and the method of comparison. This makes it possible to assess the cyclical changes in corporate activity after 2008 that occurred as a result of the crisis and are quickly overcome and the structural effects that change the trend of real sector development. The principal “winner” of the crisis is its source at the global level – the financial sector, followed by industry, companies engaged in public activities and export-oriented companies, while high value added sectors (such as software technologies, research and development), is on the losing side at an almost zero credit activity for the enterprises in the country. In conclusion, the missed lessons from the crisis in Bulgaria are commented.

Keywords: World Economic and Financial Crises, Corporate Sector, Gross Value Added, Foreign Trade, Corporate Profits