The criteria for sustainable development have become a decisive factor in the formulation and assessment of economic policy models. By its nature, sustainable development is a multidimensional category; therefore, it requires an interdisciplinary approach. This study is focused on the economic aspects of sustainable development. However, the analysis includes the interdependences of the noneconomic dimensions. The author proposes a new definition for sustainable development that incorporates those dimensions and suggests a new GDP matrix that better integrates the quantitative and the qualitative parameters of the economic output, including its effect on the environmental equilibrium.
Professor Rumen Gechev's teaching and research interests are in the fields of economic policies for sustainable development and international business. He has published numerous textbooks, articles, and studies in English, Bulgarian, Czech, and Ukrainian. He has been actively involved in national and international consulting projects.