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Regional aspects of economic resilience in Romania, during the post-accession period

Author

Listed:
  • Gheorghe ZAMAN

    () (Institute of National Economy, Romanian Academy)

  • George GEORGESCU

    () (Institute of National Economy, Romanian Academy)

Abstract

The paper focuses on the issue of regional resilience to the economic crisis impact in the case of Romania, taking the county as territorial unit of observation. Based on the idea that the shock of a crisis spreads asymmetrically in the territory, with different contagion effects, the study advances a new approach to the speed and duration of GDP decline recovering. Data analysis shows that, at macroeconomic level, Romania has not proved resilient to the crisis impact, after two years of recession and a recovery period of 4 years barely succeeding in 2014 to return to the 2008 GDP level. The research highlighted the differentiated recovery duration of the economic decline in territory, as in 2014 many counties had to recover in the coming years the remained GDP gaps, up to 10 pp or even more. The study paid a specific attention to the crisis impact on employment, focusing on the R&D sector, revealing the endogenous growth generating potential at county level.

Suggested Citation

  • Gheorghe ZAMAN & George GEORGESCU, 2015. "Regional aspects of economic resilience in Romania, during the post-accession period," Romanian Journal of Economics, Institute of National Economy, vol. 40(1(49)), pages 5-32, june.
  • Handle: RePEc:ine:journl:v:40:y:2015:i:49:p:5-32
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    More about this item

    Keywords

    global crisis; regional economic resilience; economic decline recovery; employment; knowledge-based re-industrialization;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy

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