Role of the Industrial Sector for the Recovery and Growth of the Bulgarian Economy after the Global Crisis

Kaloyan Kolev

Economy and Economic Theory: Problems and Interactions, Conference Proceedings 2017, 2017, issue 1, 88-98

Abstract: This paper explores how viable and sustainable the industrial sector in Bulgaria is and its significance for the recovery of the national economy after the global crisis. The analysis reveals that thanks to a market reorientation, rapid restructuring and increased efficiency, industrial production limits the second "downturn" and appears to be a driver of economic growth after 2010. Furthermore, the results indicate that the chosen model of development - competitiveness based on labor cuts and lack of investment at the expense of increasing of property income, is likely to exhaust the opportunities for future growth an obstacle to economic convergence with the other EU member's states.

Keywords: Re-industrialization; economic growth; structural adjustment; productivity (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:vra:pr1712:y:2017:i:1:p:88-98

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