CONVERGENCE OF THE OUTPUT STRUCTURE OF THE BULGARIAN ECONOMY TO THE EUROZONE

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

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 159-170

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.

Keywords: structural convergence; economic integration; structural change; monetary unions; monetary policy (search for similar items in EconPapers)
JEL-codes: E52 F02 L16 O47 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:159-170

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