Business Environment in Bulgaria during the 1930s – Conditions and Factors

Marco Dimitrov ()
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Marco Dimitrov: University of National and World Economy Sofia, Bulgaria

Proceedings of the Centre for Economic History Research, 2021, vol. 6, 185-199

Abstract: The author aims to reveal the general conditions of doing business in Bulgaria during the 1930s within the context of significant changes in the world economy at that time and their impact on the Bulgarian economy. At the same time, the basic determinants of the changes in the economic conditions are outlined. A general comparison is made between the conditions of the 1920s and 1930s, and the conclusion is that there was an unprecedented increase of the direct government intervention in Bulgaria. The government also had a crucial role in the formation of the business environment in the 1930s. These interventions are a consequence of the unprecedented complication of the economic situation worldwide and in Bulgaria, as a result of the Great Depression of 1929. The author assesses the state intervention in the Bulgarian economy in the 1930s as adequate and effective. For this reason, the post-Depression economic recovery was relatively more effective compared to other countries with similar basic characteristics. An essential feature of the activity of the Bulgarian state in improving the economic environment is the fact that it is carried out with exceptional economic and fiscal measures. The state does not exert political or ideological pressure on economic entities and thus, in terms of its economic policy, is closer to the policy pursued in democratic countries.

Keywords: business history of Bulgaria; state economic policy; business history of the 20th century; state regulation; economic institutions; economic environment (search for similar items in EconPapers)
JEL-codes: N24 N44 N84 N94 (search for similar items in EconPapers)
Date: 2021
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