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Regional Development in Romania: Empirical Evidence Regarding the Factors for Measuring a Prosperous and Sustainable Economy

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  • Ibinceanu Onica Mihaela Cristina

    (Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, 80001 Galați, Romania)

  • Cristache Nicoleta

    (Faculty of Economics and Business Administration, Dunarea de Jos University of Galati, 80001 Galați, Romania)

  • Dobrea Răzvan Cătălin

    (Department of Management, Bucharest University of Economic Studies, 010374 București, Romania)

  • Florescu Margareta

    (Department of Management, Bucharest University of Economic Studies, 010374 București, Romania)

Abstract

The present study aims to present, evaluate and identify the factors required to measure the prosperity and sustainability of Romania’s economy over the specific period 2000–2020 in light of sustainable regional development assessments, and examines how the main factors—as considered by the authors—may be integrated into regional development policies. The focus throughout the study is on the need to permanently support the development of Romanian regions in direct relation to the sustainable indicators presented within the model—through the use of data from empirical analysis—which are measures of Romania’s economic prosperity and long-term economic growth. Therefore, the study intends to assess the progress of each region of the country, showing the evolution and selection of factors that are related to sustainability, namely, child survival, poverty and education, with implications for regional development strategies and local initiatives that must promote wider sustainable regional development. Furthermore, the aim of the study is to analyse the influence of sustainable inflows on economic prosperity, reflected in the Gross Domestic Product (GDP) per capita for each region in Romania, considering factors related to sustainability and the major differences between the regions, depending on the effectiveness of these public policy applications. With this approach, our goal—considering all the macroregions of the country—is to emphasize the significance of two main aims in sustainable regional development: a better allocation of the means which actively aim to decrease the unemployment rate and a better infrastructure for public services. National, regional and local administrations play important roles in promoting coherent sustainability in economic, social and environmental activities. Regardless of the level at which development policies are devised—local, county or regional—they must take into consideration and monitor the determinants of sustainable development in cases where development is the ultimate goal.

Suggested Citation

  • Ibinceanu Onica Mihaela Cristina & Cristache Nicoleta & Dobrea Răzvan Cătălin & Florescu Margareta, 2021. "Regional Development in Romania: Empirical Evidence Regarding the Factors for Measuring a Prosperous and Sustainable Economy," Sustainability, MDPI, vol. 13(7), pages 1-19, April.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:7:p:3942-:d:528917
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    2. Paweł Dziekański & Piotr Prus & Mansoor Maitah & Magdalena Wrońska, 2021. "Assessment of Spatial Diversity of the Potential of the Natural Environment in the Context of Sustainable Development of Poviats in Poland," Energies, MDPI, vol. 14(19), pages 1-27, September.
    3. Valér Veres & József Benedek & Ibolya Török, 2022. "Changes in the Regional Development of Romania (2000–2019), Measured with a Multidimensional PEESH Index," Sustainability, MDPI, vol. 14(21), pages 1-29, November.
    4. Ionuț Nica & Irina Georgescu & Camelia Delcea & Nora Chiriță, 2023. "Toward Sustainable Development: Assessing the Effects of Financial Contagion on Human Well-Being in Romania," Risks, MDPI, vol. 11(11), pages 1-32, November.
    5. Liu, Yang & Dong, Xiucheng & Dong, Kangyin, 2023. "Pathway to prosperity? The impact of low-carbon energy transition on China's common prosperity," Energy Economics, Elsevier, vol. 124(C).

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