Open AccessInter-Industry Structural Convergence of Bulgaria’s Economy to the Eurozone
Publication year - 2021
Publication title -
ikonomičeski i socialni alternativi/ikonomičeski i socialni alternativi
Language(s) - English
Resource type - Journals
eISSN - 2534-8965
pISSN - 1314-6556
DOI - 10.37075/isa.2021.3.08
Subject(s) - convergence (economics) , recession , divergence (linguistics) , economics , economy , index (typography) , order (exchange) , structural change , value (mathematics) , economic system , macroeconomics , linguistics , philosophy , finance , world wide web , computer science , machine learning
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.