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Competitiveness Of The Romanian Economy From European Perspective

Author

Listed:
  • ELENA PELINESCU

    () (Institute for Economic Forecasting, Bucharest, Romania)

  • MARIOARA IORDAN

    () (Institute for Economic Forecasting, Bucharest, Romania)

  • MIHAELA-NONA CHILIAN

    () (Institute for Economic Forecasting, Bucharest, Romania)

Abstract

The sustainable growth of economic competitiveness as a whole and of industry, in particular, is of paramount importance for Romania. A look at the literature reveals that although there is no consensus in defining and measuring competitiveness, many studies focus on competitiveness i) in a broader sense, envisaging the overall economic development, and ii) in a limited sense, concerning only the foreign trade relationships and the correlation between the domestic currency exchange rate, foreign prices and domestic inflation rates (or costs in sectors that produce tradable commodities). In such line of argument, the paper presents a picture of the Romanian economy competitiveness in the European context, focused on the analysis of real effective exchange rate, the evolution of Romania's foreign trade with the European Union and the comparative advantages/disadvantages on the European markets.

Suggested Citation

  • Elena Pelinescu & Marioara Iordan & Mihaela-Nona Chilian, 2012. "Competitiveness Of The Romanian Economy From European Perspective," New Trends in Modelling and Economic Forecast (MEF 2011), ROMANIAN ACADEMY – INSTITUTE FOR ECONOMIC FORECASTING;"Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences, vol. 1(1), pages 86-104, January.
  • Handle: RePEc:ntu:ntumef:vol1-iss1-12-086
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    File URL: http://mef.univnt.ro/wp-content/uploads/MEF/2011/mef-01.08.pdf
    File Function: First version, 2012
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    References listed on IDEAS

    as
    1. Jorge Carrera & Guillermo Vuletin, 2003. "The Effects of Exchange Rate Regimes on Real Exchange Rate Volatility. A Dynamic Panel Data Approach," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] c67, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    2. International Monetary Fund, 2003. "The Equilibrium Real Exchange Rate in a Commodity Exporting Country; The Case of Russia," IMF Working Papers 03/93, International Monetary Fund.
    3. Pelinescu Elena, 2005. "Cursul de schimb ca indicator de competitivitate," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 04, December.
    4. Kateřina Šmídková & Ray Barrell & Dawn Holland, 2003. "Estimates of fundamental real exchange rates for the five eu pre-accession countries," Prague Economic Papers, University of Economics, Prague, vol. 2003(4).
    5. Boltho, Andrea, 1996. "The Assessment: International Competitiveness," Oxford Review of Economic Policy, Oxford University Press, vol. 12(3), pages 1-16, Autumn.
    6. Virginie Coudert & Cécile Couharde, 2003. "Exchange Rate Regimes and Sustainable Parities for ceecs in the Run-up to emu Membership," Revue économique, Presses de Sciences-Po, vol. 54(5), pages 983-1012.
    7. Luca Buldorini & Stelios Makrydakis & Christian Thimann, 2002. "The effective exchange rates of the euro," Occasional Paper Series 02, European Central Bank.
    8. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584-584.
    9. Pelinescu, Elena & Caraiani, Petre, 2006. "Estimating the Real Effective Exchange Rate (REER) by Using the Unit Labor Cost (ULC) in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(4), pages 5-22, December.
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    Citations

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    Cited by:

    1. Ana Patricia HOMORODEAN (CSATLOS) & Roxana Mihaela SIRBU (OARZA) & Cristian MOCAN, 2014. "Sustainability Of Tax System In Romania," SEA - Practical Application of Science, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 5, pages 327-332, November.
    2. repec:rjr:romjef:v::y:2017:i:3:p:166-184 is not listed on IDEAS

    More about this item

    Keywords

    competitiveness; real effective exchange rate; deflators; foreign trade; comparative advantage;

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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