Papers of BAS

Papers of BAS. Humanities and Social Sciences

Vol. 6, 2019, No. 1

Structural changes in the industry of the EU member states

Iskra Christova-Balkanska

Abstract. In recent decades, significant changes have taken place in the industrial structure of EU member states as a result of globalization, the activities of multinational companies (MNCs), and EU policies. In search of higher profits, European companies are exporting industries outside the EU, and some sorts of production are gradually disappearing from the developed Western European economies. The global financial and economic crisis, as well as the sovereign debt crisis in Europe, have contributed to the deepening of deindustrialization processes in Western Europe (with the exception of Germany), which has affected the competitiveness of European exports compared with the main competitors on the international market of goods and services.

The restructuring of the European industrial sector is an essential part of the general process of economic reform because the development of high-tech industries in Europe is a secure basis for improving the competitiveness of production and diversifying the export structure of European countries.

The object of analysis of this article is the causes of structural changes in European industry, with an emphasis on the new EU industrial policy that is directing member states to create conditions for the development of the digital economy through the introduction of innovative enabling technologies. The aim of the present study is to identify the European industrial policy for innovative industries in the context of new information and communication technologies, and the challenges facing Bulgaria in this field.

Keywords: F15, L59, L50