Entrepreneurship does not Equal Development: A Note on Bulgaria’s EU Candidacy and Competitiveness

Looking backwards, it could be argued that after the change of the socialist regime the Bulgarian economy should have been approached as a developing economy rather than to assume that a change in ownership would result in an immediate technical restructuring of production. In any case, 14 years later, operating under the conditions of a currency board since 1997, and dealing with restricted sovereignty in policy formulation, Bulgaria faces problems resembling that of a developing country. Bulgaria’s part of the 5 enlargement of the European Union (EU) makes developing concerns such as trade specialization even more relevant.