Цената на петрола и външната търговия на България в контекста на фундаменталните икономически изследвания
The Oil Price and the External Bulgaria's Trade in the Context of Fundamental Economic Research

Author(s): Lyubomir Lyubenov
Subject(s): Social Sciences, Economy, Education, National Economy, Higher Education
Published by: Икономически университет - Варна
Keywords: Elasticity; Energy resourses; Foreign trade; Oil; Regression
Summary/Abstract: The objective of this report is to assess the impact of oil price dynamics on Bulgaria's foreign trade using elasticity theory and one-factor linear regression. This involves the use of specific methods that require fundamental knowledge and research experience. Bulgaria's foreign trade was found to be inelastic in general with respect to oil prices. This was explained by the particularities of the period studied, the type of data and the method used. The study provides a good basis for a more in-depth study using the Almon model. Bulgaria's imports of energy resources and crude oil are mainly determined by the oil price. This makes it a significant factor for our economy and suggests that it is determined by factors external to the EU.

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