Proceedings of the 15th International Academic Conference, Rome

INNOVATIONS: A KEY DRIVER FOR SUSTAINABLE DEVELOPMENT IN BULGARIA

JULIA DOBREVA

Abstract:

This paper aims at highlighting the role of innovations for achieving sustainable development in Bulgaria. It identifies the need for innovative mechanisms in transition economies as a measure against the post effects of an unstable political system and the recent financial crisis. The analysis provides an overview of the Bulgarian economy over the last 20 years - the dropdown of industrial production, the difficulties in setting up and managing SMEs, and the general decline in the country’s economic activity. Furthermore, the paper explores the development impacts which will be achieved through the introduction of innovations in production facilities as well as in service management. The environmental and social implications are considered in terms of defining the major outcomes of implementing green business practices in Bulgaria. A comparison is made with the sustainable development levels in some EU countries to serve as a basis for identifying and further elaborating the main political and economic targets for Bulgaria in the short and the long term.

Keywords: innovations, post-crisis, SMEs, sustainability, sustainable development

DOI: 10.20472/IAC.2015.015.050

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