The Rise of the Transaction Sector in the Bulgarian Economy

George Chobanov and Henrik Egbert ()
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George Chobanov: Sofia University St. Kliment Ohridski, Bulgaria

Comparative Economic Studies, 2007, vol. 49, issue 4, 683-698

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

Date: 2007
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