FACTORS INFLUENCING INVESTMENTS ACTIVITY IN BULGARIAN FORESTRY
Keywords:
investments, neo-institutional economic theory, forestry, inquiry survey, market failures.Abstract
Using the categories of neo-institutional economic theory, an assessment of the
existing institutions, institutional entities and institutional changes in the forestry sector of Bulgaria
after 1990 has been carried out. On this basis, working hypotheses have been formulated for the
insufficient investments in the forestry sector of the country. The hypotheses are verified on the
basis of a survey conducted during the period June - October 2025 among 202 specialists related to
the management of forest areas in Bulgaria. The questionnaires processed at this stage give reason
to conclude that among the main factors influencing the insufficient amount of investments in the
forestry sector of Bulgaria are some market failures such as rent-seeking, opportunism and
information asymmetry.
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