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Recent Developments In Trade In Services - A Comparative Analysis Of Romania And Bulgaria

Author

Listed:
  • Georgeta Ilie

    (Institute for World Economy, Romanian Academy)

Abstract

Considering the recent global trends in trade in services, influenced by the pandemic crisis and postpandemic challenges, as well as by the increasing of digitalization opportunities, this paper examines the main characteristics of trade in services of Romania and Bulgaria. We choose these two Eastern European Union countries placed in the same category at European level due to their comparable characteristics and developments. The research highlights the major role of services in both economies, revealed by their high percentage in GDP and job market, as well as in the trade balance. Our research aims to underline the local and conjunctural factors that have supported the development of their trade in services. Our analysis also includes some evidence related to the recent evolutions of the trade in digitally delivered services of Romania and Bulgaria, both countries making progress in aligning themselves with current trends of intensive implementation of the new technologies in service industries. The concluding remarks in the last part of this paper underline the key elements on which the upcoming trends in trade in service of Romania and Bulgaria are going to be shaped, considering the digital evolution prospects of both countries and the global business environment movements.

Suggested Citation

  • Georgeta Ilie, 2024. "Recent Developments In Trade In Services - A Comparative Analysis Of Romania And Bulgaria," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 12(1), pages 51-64, June.
    • Handle: RePEc:ntu:ntugeo:vol12-iss1-51-64
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    References listed on IDEAS

    as
    1. World Bank & Energy Charter Secretariat, 2023. "Enabling Foreign Direct Investment in the Renewable Energy Sector," World Bank Publications - Reports 40087, The World Bank Group.
    2. Ghibutiu, Agnes & Poladian, Simona, 2009. "Global Sourcing Of Services: How Well Are The New Eu Member States Coping With The Challenges? (Part I)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 6(1), pages 123-135, March.
    3. Ghibutiu, Agnes & Poladian, Simona, 2009. "Global Sourcing of Services: How Well Are the New EU Member States Coping with the Challenges? (Part II)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 6(2), pages 184-199, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    trade in services; trade in digitally delivered services; Romania; Bulgaria; economic development; Pandemic crisis.;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • L8 - Industrial Organization - - Industry Studies: Services
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy

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