Chief Editor
  • Prof. Christina Nikolova, PhD
Editorial Board
  • Prof. Christina Nikolova, PhD - UNWE
  • Prof. Elka Todorova, DSc. - UNWE
  • Prof. Maya Lambovska, DSc. - UNWE
  • Assoc. Prof. Todor Nedev, PhD - UNWE
  • Assoc. Prof. Dorina Kabakchieva, PhD - UNWE
  • Assoc. Prof. Paskal Zhelev, PhD - UNWE
Scientific Secretary
  • Assoc. Prof. Aleksandar Valkov, PhD - UNWE
  • Assist. Prof. Veselina Lyubomirova, PhD - UNWE
International Editorial Board
  • Damian Stantchev, PhD
    Edinburgh NAPIER University, UK

  • Ivaylo Vassilev, PhD
    University of Southampton,UK

  • Prof. Irina Kuzmina-Merlino, PhD
    Transport and Telecommunication Institute, Riga

  • Milan Zdravkovic
    University of Niš, Serbia

  • Prof. Niculae Mihaita, PhD
    Bucharest Academy of Economic Studies, Romania

  • Prof. Ricardo Jardim-Gonçalves, PhD
    UNINOVA institute, New University of Lisbon, Portugal

  • Prof. Ing. Jaroslav Belás, PhD
    Tomas Bata University in Zlín, Czech Republic

  • Prof. John Rijsman, PhD
    Tilburg University

  • Prof. Ing. Zdenek Dvorák, PhD
    University of Zilina, Slovak Republic

  • Prof. Zoran Cekerevac, PhD
    “Union – Nikola Tesla” University in Belgrade, Serbia

Institutional Convergence of Bulgaria to the Eurozone Countries
year 2021
Issue 1

Institutional Convergence of Bulgaria to the Eurozone Countries


Institutions are one of the main factors for the economic growth and development of any economy. And insofar as development is defined as a set of economic and institutional factors, the reduction of differences in the development of individual countries and regions naturally leads us to the institutional convergence, which is the object of study. When researching the convergence of Bulgaria to the EU countries and more closely to the Eurozone, many questions arise about whether there is institutional convergence and how it can be revealed. This is the subject of analysis presented in the study. The thesis presented here is that it is possible to consider institutional convergence for Bulgaria with the countries of the Euro zone, represented by qualitative and quantitative indicators, which, however, is unstable. The methodology is based on the understanding of institutional convergence as the converging of economic and political institutions, and given the fact that they are different for each of the economies; a comparative analysis is used to study the convergence as a whole. For this purpose, the analysis of institutional quality and comparative analysis uses the main indicators of the World Bank – Worldwide Governance Indicators (WGI) and Ease of Doing Business Indicator. The results of the pre-selected criteria give grounds to find those of the observed indicators, which reveal improvement and respectively converging in the direction of institutional convergence of Bulgaria with the countries from the EU area.

JEL: D02, O43, O47


institutions, institutional quality, institutional convergence
Download YB.2021.1.03.pdf

ISSN (print): 1312-5486
ISSN (online): 2534-8949