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Regional Patterns Of Global Economic Crisis Shocks Propagation Into Romanian Economy

Author

Listed:
  • Dorel Ailenei

    (The Bucharest University of Economic Studies)

  • Amalia Cristescu

    (The Bucharest University of Economic Studies)

Abstract

This paper is a result of a reaction to delay in statistical data source regarding territorial economic reality. For example, in Romanian statistics, the national account indicators (GDP, added value, industrial output, etc.) in regional profile are available only for 2008. On the other hand, economic reality is talking about an unpredictable end of the economic crisis, both in global economy and in the Romanian economy. When statistical data is available we expect that the global economic crisis will be over and we try to find what type of back-up analysis will be adequate for the present regional economic state. In these circumstances, based on the available regional data, we try to estimate the predictable regional patterns of the propagations of the global economic crisis shocks into the Romanian economy, step by step, from 2008 to 2011. Thus, we begin with a quite integrate profile of the regional development in 2008 and, afterwards, based on a series of statistical data for the 2009-2011 period, we try to project predictable trends. The main equations of our research consist in: is there a stochastic pattern in global economic crisis propagation at regional level in the Romanian economy, or are there some consistent factors advocating a scientific explanation of regional disparities during economic crisis period. Taking in account this research objective, we implement an econometrical cross-section analysis of the main economic regional indicators between 1998-2008 and try to compare the estimated forecasts with the available regional statistics for the 2008-2011 period.

Suggested Citation

  • Dorel Ailenei & Amalia Cristescu, 2012. "Regional Patterns Of Global Economic Crisis Shocks Propagation Into Romanian Economy," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 6(1), pages 41-52, JUNE.
    • Handle: RePEc:rrs:journl:v:6:y:2012:i:1:p:41-52
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    File URL: http://www.rrsa.ro/rjrs/V613.AILENEI.PDF
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    Citations

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    Cited by:

    1. Zaman, Gheorghe & Antonescu, Daniela, 2015. "Endogenous regional growth and foreign trade, in Romania," MPRA Paper 64678, University Library of Munich, Germany.
    2. Mariana Balan, 2018. "Estimating Economic And Social Regional Disparities In Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 3, pages 5-18, June.
    3. Zizi Goschin, 2018. "Variations Of Regional Inequalities In Romania In The Long Run," Management Strategies Journal, Constantin Brancoveanu University, vol. 42(4), pages 91-99.
    4. Madalina Ecaterina Popescu & Maria-Isadora Lazar, 2015. "Analysis of the Post-Crisis Economic Performances in the European Union," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(3), pages 5-14, June.
    5. Zaman Gheorghe & Goschin Zizi, 2014. "A New Classification Of Romanian Counties Based On A Composite Index Of Economic Development," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 217-230, July.
    6. Raluca Mariana Grosu & Daniela Luminita Constantin, 2013. "The International Migration in the EU. A Descriptive Analysis Focused on Romania," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(4), pages 306-318, August.
    7. Oțil Maria Daniela & Miculescu Andra & Cismaș Laura Mariana, 2015. "Disparities in Regional Economic Development in Romania," Scientific Annals of Economics and Business, Sciendo, vol. 62(s1), pages 37-51, October.
    8. Ramona Pîrvu & Roxana Bădîrcea & Alina Manta & Mihaela Lupăncescu, 2018. "The Effects of the Cohesion Policy on the Sustainable Development of the Development Regions in Romania," Sustainability, MDPI, vol. 10(7), pages 1-21, July.

    More about this item

    Keywords

    crisis shocks; propagation patterns; inertial effect; regional profile;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)

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