Assessing EU environmental policies effectiveness on the economic development of Bulgaria

Abstract

The study explores the effect of the European Structural and Investment Funds, intended to implement EU Environmental Policies on the development of the Bulgarian economy. Efforts are focused on measuring the strength and direction of the stochastic relationships between the absorbed funds provided by: the European Agricultural Fund for Rural Development (EAFRD), the European Maritime and Fisheries Fund (EMFF), the European Regional Development Fund (ERDF) and the Cohesion Fund (CF) on the Bulgarian gross domestic product for the period 2014 - 2022. The methodology used to study the observed stochastic processes includes various types of linear and non-linear regressions, correlation analysis, ANOVA, multicollinearity, and normality of residuals.