Inter-Industry Structural Convergence of Bulgaria’s Economy to the Eurozone

Dimitar Damyanov
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Dimitar Damyanov: University of National and World Economy, Sofia, Bulgaria

Ikonomiceski i Sotsialni Alternativi, 2021, issue 3, 117-132

Abstract: The article presents an analysis of the inter-industry structural convergence process of Bulgaria’s economy to the Eurozone for the 2000–2018 period. In order to study the specific characteristics of the process, the article explores the dynamics of the relative shares of separate industries (economic activities) in gross value added and compares them to the reference economy, along with possible explanations and implications. The divergence index is employed as a quantitative measure of the degree of structural similarity, and comparisons to other EU economies with similar characteristics are made as well. Results indicate that the output structure of Bulgaria’s economy is slowly converging towards the Eurozone throughout the period despite some variation in developments before and after the 2009 recession.

Keywords: Economic Integration; monetary policy; structural convergence; monetary unions (search for similar items in EconPapers)
JEL-codes: E52 F02 L16 O47 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:iisabg:y:2021:i:3:p:117-132

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