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

Author

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  • Kaloyan Kolev

    (University of Economics - Varna)

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.

Suggested Citation

  • Kaloyan Kolev, 2017. "Role of the Industrial Sector for the Recovery and Growth of the Bulgarian Economy after the Global Crisis," Economy and Economic Theory: Problems and Interactions, Conference Proceedings 2017, Department of Economics, University of Economics - Varna, issue 1, pages 88-98, December.
    • Handle: RePEc:vra:pr1712:y:2017:i:1:p:88-98
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    File URL: http://conference.ue-varna.bg/oit/files/sbornik/7-Kaloyan%20Kolev.pdf
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    More about this item

    Keywords

    Re-industrialization; economic growth; structural adjustment; productivity;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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