Possibilities of growth of a candidate to European Union: The case of Romania

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Abstract

In this paper the socio-economic situation and perspectives ofgrowth of Romania will be discussed.Romania is one of the “second wave” East European countries candidateto enter the EU in 2007. Romania’s position, apparently similar to thoseof the other candidates, is however quite peculiar. In spite of some positivesignals (growth, exports, FDI, productive international networks), itdeeply suffers from internal socio-economic inequalities, obsolete industries,scarce technological progress, weak public administration, lackinginfrastructure. Moreover, concerns arise – as repeatedly stressed by EuropeanUnion Commission – with regard to the safeguard of human rights.Nowadays trade liberalization and policies directed to convert the productivesystem are ongoing in this country with the main objective offulfilling the EU acquis.In this “race”, however, strength aspects and fragility elements of thecontext play a fundamental role in influencing the result of major changesthat are taking place in Romania.On one side the country benefits from a position in international productionsystem that could be a stimulus to endogenous growth processes,on the other, however, serious internal obstacles still remain strong.Following a trace highlighted by the recent literature on the effects oftrade liberalization, the author will examine Romania’s case to identifymain factors that could contribute to a stable path of growth and thosethat constitute an obstacles to growth and internal convergence.The analysis developed here constitutes a first step of a critical reviewof such a complex case that, as a matter of fact, is different from thoseof other CEECs that have entered the UE, even dissimilar from Bulgaria’sposition.
Original languageEnglish
Pages (from-to)115-142
JournalANNALI DELLA FACOLTÀ DI ECONOMIA. UNIVERSITÀ DI PALERMO
Volume2007
Publication statusPublished - 2007

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