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Inter-Industry Structural Convergence of Bulgaria’s Economy to the Eurozone

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  • Dimitar Damyanov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The article presents an analysis of the inter-industry structural convergence process of Bulgaria’s economy to the Eurozone for the 2000–2018 period. In order to study the specific characteristics of the process, the article explores the dynamics of the relative shares of separate industries (economic activities) in gross value added and compares them to the reference economy, along with possible explanations and implications. The divergence index is employed as a quantitative measure of the degree of structural similarity, and comparisons to other EU economies with similar characteristics are made as well. Results indicate that the output structure of Bulgaria’s economy is slowly converging towards the Eurozone throughout the period despite some variation in developments before and after the 2009 recession.

Suggested Citation

  • Dimitar Damyanov, 2021. "Inter-Industry Structural Convergence of Bulgaria’s Economy to the Eurozone," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 117-132, September.
    • Handle: RePEc:nwe:iisabg:y:2021:i:3:p:117-132
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    More about this item

    Keywords

    Economic Integration; monetary policy; structural convergence; monetary unions;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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