THE INTERNATIONAL PRODUCTION SPECIALIZATION AND THE PLACE OF THE BULGARIAN ECONOMY - TRENDS AND PERSPECTIVES
Authors
Keywords
international division of labor; international competetiveness; production and export specialization; production structure by levels of technology.
Summary
The international division of labor is a major factor in changing the international competitiveness of national economies, and as well an engine for changing the balance of economic power in the world. The dynamics of the movement of production factors causes a significant restructuring of trade flows and creates a new international economic specialization of world regions and individual economies, which implies a modern approach to analyzing the modern international division of labor. The international production and export specialization of the Bulgarian economy has been developing over the last twenty years under the influence of two significant processes - the transition to a market economy and integration into the EU - which have led to restructuring and development of new production potential. The changes in the model of international production and trade specialization of the Bulgarian economy are also influenced by other external factors and processes taking place in the international economy, which are objectively related to the process of globalization and its dynamic changes. However, the influence of external factors cannot always change the dynamics and nature of internal structural changes in our country, which could increase the competitiveness of the national economy. The Bulgarian economy needs to update the model of its international specialization according to the ongoing global technological and organizational changes, which means updating the mechanism, forms and tools of formation of current international specialization, which is in line with the modern international division of labor.
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