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Intrasectoral Structural Convergence of the Economies of Bulgaria and Romania to the Eurozone

Author

Listed:
  • Dimitar Damyanov

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

Abstract

Convergence of production structures is an important factor for the synchronization of the business cycles of Eurozone economies and for the effectiveness of the monetary policy of the ECB. This paper presents an analysis of the process of structural convergence between the economies of Bulgaria, Romania and the Eurozone at the intrasectoral level for the period 1998 – 2017. A sigma convergence methodology is employed, and the divergence index and dissimilarity index are applied. The results indicate that production structures in Bulgaria are diverging slightly from the Eurozone, while the opposite is true about Romania.

Suggested Citation

  • Dimitar Damyanov, 2020. "Intrasectoral Structural Convergence of the Economies of Bulgaria and Romania to the Eurozone," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 5, pages 141-156, December.
    • Handle: RePEc:nwe:natrud:y:2020:i:5:p:141-156
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    More about this item

    Keywords

    structural convergence; economic integration; monetary unions; monetary policy;
    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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