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Bulgaria's economy 1989-2019: an open-ended story of structural changes

Author

Listed:
  • Ganev, Georgy
Abstract
Based on an analytical narrative, and utilizing macroeconomic and new institutional economic theory, this exposition studies the Bulgarian economy during the decades after 1989. The three decades are placed in the context of the century-and-a-half-long Bulgarian development and convergence dynamic. They are then presented in terms of clearly defined sub-periods, and each sub-period is analyzed in detail. The analysis for each period focuses on three sets of issues: macroeconomic developments, microeconomic developments, and institutional changes. The exposition ends by applying the insights from the analysis to the question of whether the state of the economy in Bulgaria as of 2019 gives grounds for pessimism (Bulgaria will continue the cycles of unsuccessful convergence) or for optimism (Bulgaria will achieve an unprecedented degree of convergence in the coming decades). The answer is that at present both expectations can be supported by sets of serious arguments.

Suggested Citation

  • Ganev, Georgy, 2019. "Bulgaria's economy 1989-2019: an open-ended story of structural changes," MPRA Paper 103459, University Library of Munich, Germany, revised 29 Jan 2020.
    • Handle: RePEc:pra:mprapa:103459
    as

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    File URL: https://mpra.ub.uni-muenchen.de/103459/1/MPRA_paper_103459.pdf
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    References listed on IDEAS

    as
    1. Roumen Avramov & Jérôme Sgard, 1996. "Bulgaria from Enterprise Indiscipline to Financial Crisis," Working Papers 1996-10, CEPII research center.
    2. Roumen Avramov & Jérôme Sgard, 1996. "Bulgaria : from enterprise indiscipline to financial crisis," Post-Print hal-03567589, HAL.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Bulgaria; convergence; economic development; EU accession; EU membership; predatory entrepreneurship;
    All these keywords.

    JEL classification:

    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • P21 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Planning, Coordination, and Reform

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