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The Rise of the Transaction Sector in the Bulgarian Economy

Author

Listed:
  • George Chobanov

    (Sofia University St. Kliment Ohridski, Bulgaria)

  • Henrik Egbert

    (Justus-Liebig-University Giessen, Behavioral and Institutional Economics, VWL 6, Licher Str. 66, Giessen, 35394, Germany)

Abstract

The paper explores the dynamics of the transaction sector in the Bulgarian economy. We use the measuring strategy developed by Wallis and North in 1986. The calculations show an increase in the transaction sector in the country within the period 1997–2003 from about 37% to more than 52% of GDP. Although this is below the size reported for other industrialised and transition economies, it indicates a fundamental institutional change within a short period of time. Comparative Economic Studies (2007) 49, 683–698. doi:10.1057/palgrave.ces.8100226

Suggested Citation

  • George Chobanov & Henrik Egbert, 2007. "The Rise of the Transaction Sector in the Bulgarian Economy," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(4), pages 683-698, December.
    • Handle: RePEc:pal:compes:v:49:y:2007:i:4:p:683-698
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    Citations

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    Cited by:

    1. Kuzmin, Evgeny A. & Berdyugina, Oksana N. & Karkh, Dmitri A., 2015. "Conceptual Challenges of Observability for Transaction Sector in Economy," MPRA Paper 66168, University Library of Munich, Germany, revised Jun 2015.
    2. Nolan Charles & Trew Alex, 2015. "Transaction Costs and Institutions: Investments in Exchange," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 15(2), pages 391-432, July.
    3. Sedlarski, Teodor & Ankova, Iliana, 2010. "Възможност За Счетоводно Отчитане На Транзакционните Разходи В Предприятията [A Possible Way to Estimate Transaction Costs Through the Firm's Accounting System]," MPRA Paper 52428, University Library of Munich, Germany.
    4. Shteryo Nozharov & Petya Koralova – Nozharova, 2018. "Transaction Costs and Institutional Change of Trade Litigations in Bulgaria," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 123-133, July.
    5. Teodor Sedlarski & Ilia Atanasov & Alexandra Korcheva, 2023. "How Much is too Much? An Endogenous Growth Model with an Optimal Level of Informality," Bulgarian Economic Papers bep-2023-02, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Feb 2023.
    6. Cuevas, Agham C., 2014. "Transaction Costs of Exchange in Agriculture: A Survey," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 11(1), pages 1-18, June.
    7. Tomasz Legiedz, 2020. "Economic policy for development and the new institutional economics," Catallaxy, Institute of Economic Research, vol. 5(2), pages 61-73, December.

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