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Convergence Of The Output Structure Of The Bulgarian Economy To The Eurozone

Author

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  • Dimitar Damyanov

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

Abstract

Convergence of the output structures of EU economies is an important contributor towards the synchronization of their business cycles in light of their (present or future) membership in the Eurozone. This paper presents a brief overview and analysis of the progress of Bulgaria in terms of the convergence of its sectoral production structure towards the Eurozone during the 2000 – 2018 period and compares it to other countries with similar characteristics. A sigma (?) convergence approach is applied, with the divergence index used to measure the relative changes in the distribution of output. Results show an increasing degree of structural similarity which can be viewed as a positive development with regard to the country’s future membership of the monetary union.

Suggested Citation

  • Dimitar Damyanov, 2020. "Convergence Of The Output Structure Of The Bulgarian Economy To The Eurozone," Economic Science, education and the real economy: Development and interactions in the digital age, Publishing house Science and Economics Varna, issue 1, pages 159-170.
    • Handle: RePEc:vrn:cfdide:y:2020:i:1:p:159-170
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    More about this item

    Keywords

    structural convergence; economic integration; structural change; 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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