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Historical Features of a Weekly Structured Economy : The Case Study of Romania



    () (Spiru Haret University)


The course of Western economies modern history (since the sixteenth century) appears to have as 'target' the rationalization of economic decisions, namely the identification of the most effective solutions to minimize transformation costs and, in particular, transaction costs, to maximize earnings. Throughout each historical period there were civilizations considered superior (core economies), as well as forms of organization (cultures) classified as inferior or 'backward' (called periphery). The first ones irradiated to the latter the already implemented and verified modern institutional forms (separation of powers, universal direct and secret suffrage, codifying of national legislation according to the traditional Romano-Germanic laws, etc.). For every area of the globe exposed to modernization pressure, the institutional effectiveness was decided by the higher, lower or almost non-existent compatibility of the previous 'cultural accumulation' with the type of 'culture' inherent in the new institutional structures. During the periods of institutional transfers, the essential cultural features of the countries that have 'imported' institutions modeled in other cultural environments have probably been disregarded. The social, political and economic evolution of Romania during the past five centuries has some peculiarities which consecrate Romania as a weakly structured society during the modern and contemporary periods. The present paper tries to highlight the main features of the Romanian society and economy that reveal the mentalities and explain the behaviors configured and crystallized through the centuries until today.

Suggested Citation

  • GHIORGHITA Eugen, 2015. "Historical Features of a Weekly Structured Economy : The Case Study of Romania," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 2(1), pages 112-119, December.
  • Handle: RePEc:icb:wpaper:v:2:y:2015:i:1:112-119

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    References listed on IDEAS

    1. Eggertsson,Thrainn, 1990. "Economic Behavior and Institutions," Cambridge Books, Cambridge University Press, number 9780521348911, March.
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    More about this item


    economic development and growth; core-periphery economies; backwardness; development gap; formal/informal institutions.;

    JEL classification:

    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification


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