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The economic shocks after 2008 and their impact on the geographic structure of Bulgaria’s foreign trade

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  • Vassil Petkov

Abstract

The article discusses the main trends in the dynamics of Bulgaria’s export and the changes in its structure as a result of the crisis that spread after 2008. The period which is observed can be divided in three different time intervals. The first encompasses the years from the beginning of the new millennium until 2008 and is associated primarily with the process of integration and a strengthening of Bulgaria’s trade relations with the EU. In the second time interval the country started to feel the initial effect of the global financial and economic crisis of 2008-2009, expressed most obviously in the collapse of foreign trade. The article focuses on the third period which began in 2010 and has continued until now. It covers the recovery from the economic turmoil and the implications of the European debt crisis. The author makes a comparative analysis of the foreign trade structure changes in Bulgaria and the other new EU Member States.

Suggested Citation

  • Vassil Petkov, 2013. "The economic shocks after 2008 and their impact on the geographic structure of Bulgaria’s foreign trade," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 58-76,77-93.
    • Handle: RePEc:bas:econth:y:2013:i:4:p:58-76,77-93
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    More about this item

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • F15 - International Economics - - Trade - - - Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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