The Bulgarian Economy: Lessons from Reform during Early Transition

Hamilton Professor of Economics Derek Jones has collaborated with University of Delaware Professor Jeffrey Miller to compile a book that examines the early transition experiences of Bulgaria by making comparisons with the experiences from other socialized countries and analyzing the reasons for the uneven pace of change. They highlight important and distinctive features of Bulgaria’s economic reform such as attempts to nurture small farms, introduce progressive human resource management practices and trade union reform.

Jones and Miller also critique areas in which Bulgaria has lagged behind other former communist countries in Eastern and Central Europe, such as with the privatization of large farms. They identify changes in Bulgaria since 1991, analyze the effects of the changes, and identify obstacles to further progress. The book also compares the Bulgarian experience with those of other socialized countries in order to understand the reasons for such an uneven pace of change.


Early transition in Bulgaria: review and evaluation; Economic transformation and regional inequality in Bulgaria: in search of a meaningful unit of analysis. Macroeconomics: Inflation in a transition economy: the case of Bulgaria; Price index gap in Bulgaria; Incomes policies in Bulgaria; Macroeconomic effects of restrictive wage policy in Bulgaria: empirical evidence for 1991-95. Money and Capital Market: A role for an independent central bank in transition? the case of Bulgaria; Collateral, access to credit, and investment in Bulgaria. Trade: The international economy. Privatization, Restructuring of State Firms and Small Firms: Process of privatization in Bulgaria; Nature and role of small firms in Bulgaria; Enterprise adjustment during early transition. Agricultural Reform: Evolution of agrarian institutions in Bulgaria: markets, cooperatives, and private farming, 1991-94. Labour Markets: Bulgarian labour market during early period of transition; Fringe benefits in transition: evidence from Bulgaria; Appendix.


"...fills a gap in the existing literature and makes an important contribution to the better understanding of some country-specific aspects of the transition process...impressive list of contributing authors..." Journal of Comparative Economics

"...presents a significant contribution to the understanding of Bulgaria's puzzling economic development...important and stimulating ideas...it offers much inspiration for further research on current economic development."
Europe-Asia Studies

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