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The Romanian economy - four years after the EU accession

Listed author(s):
  • Laurian LUNGU

    ()

    (Cardiff Business School and Macroanalitica, Romania;)

The first four years of Romania’s membership confirmed that the accession to the EU had, overall, positive effects on the economy. Although the pace of structural reforms had slowed down after 2007, they picked up again after the start of financial crisis, at the end of 2008. Households’ wealth and purchasing power have increased despite the recent drop over the last two years. Looking ahead, Romania’s economy will need to enhance its competitiveness and pursue a growth model which would make it less dependent on external shocks. Economic strategies leading to both physical and human capital accumulation would need to be clearly defined and supported by all political parties. With monetary policy aimed at maintaining price stability, fiscal policy would have a defining role in preserving and enhancing competitiveness. The pursuance of sound fiscal and monetary policies would be paramount in achieving sustained growth in the years to come.

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File URL: http://www.ejes.uaic.ro/articles/EJES2011_0202_LUN.pdf
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Article provided by Centre for European Studies, Alexandru Ioan Cuza University in its journal Eastern Journal of European Studies.

Volume (Year): 2(2) (2011)
Issue (Month): (December)
Pages: 31-48

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Handle: RePEc:jes:journl:y:2011:v:2:p:31-48
Contact details of provider: Web page: http://cse.uaic.ro

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  1. Feldstein, Martin, 2008. "Did Wages Reflect Growth in Productivity?," Scholarly Articles 2794832, Harvard University Department of Economics.
  2. Milesi-Ferretti, Gian Maria & Moriyama, Kenji, 2006. "Fiscal adjustment in EU countries: A balance sheet approach," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3281-3298, December.
  3. Barry Bosworth & George L. Perry, 1994. "Productivity and Real Wages: Is There a Puzzle?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(1), pages 317-343.
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