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The Rise of the Transaction Sector in the Bulgarian Economy


  • 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)


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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    Cited by:

    1. 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.
    2. 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.
    3. 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), June.
    4. 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.

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