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Romania: Recent Economic Developments

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  • International Monetary Fund

Abstract

This paper reviews economic developments in Romania during 1990–97. Reforms have been relatively slow since the beginning of the transition process. Except for a brief and inconsequential interlude in 1993, comprehensive programs for privatization and for restructuring or liquidation of loss-making enterprises were not launched until 1995. These programs have done little to improve governance so far. As of end-1996, the economy was still largely characterized by state ownership and control; by fixed prices and quantitative constraints; and by ailing enterprises and subsidization of losses.

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  • International Monetary Fund, 1997. "Romania: Recent Economic Developments," IMF Staff Country Reports 1997/046, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:1997/046
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