As a small open economy, Bulgaria benefits from economic exchanges with global partners. However, after a boost before the Global Financial Crisis and EU accession, its integration in global value chains has been growing only modestly in recent years and it remains particularly low when it comes to links with EU partners. To capitalize from the integration with the EU Single Market and exploit the opportunities that will come from joining the euro zone and the Schengen area, Bulgaria should focus on enhancing its non-cost competitiveness by improving its governance and investing in infrastructure and human capital.
Authors
- Format
- Paper
- Frequency
- Regular
- ISBN
- 9798400280580
- ISSN
- 2958-7875
- Pages
- 26
- Published in
- United States of America
- StockNumber
- SIPEA2024023
Table of Contents
- Bulgaria - 2024 - Selected Issues Paper - Bulgaria in Global Value Chains.pdf 1
- BULGARIA IN GLOBAL VALUE CHAINS: LEVERAGING INTEGRATION WITH THE EU0F 5
- A. Introduction 5
- B. Developments in Foreign Trade and FDI in Bulgaria 6
- Trade 6
- Foreign Direct Investment 9
- C. Bulgaria’s Participation in GVCs 9
- D. Explaining Bulgaria’s Position in GVCs 14
- Identification of GVC Correlates 14
- Bulgaria’s Position with Respect to GVC Drivers in the EU Landscape 16
- E. Conclusion 17
- Data Sources and Transformations 18
- Machine Learning Models 18
- Methods for Enhancing the Interpretability of Machine Learning Models 19
- Machine Learning Models Forecasting Performance 21
- Detailed Results from the Application of the ML Models 22
