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Inward Processing Trade and Implications for the Balance of Payments Current Account (The Case of Romania)

Author

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  • Georgescu, George

Abstract

The study is focusing on the Romanian foreign trade by approaching distinctly its two components, i.e. the final goods under definitive custom regime and the intermediate goods imported under temporary custom regime, which are subject to processing (IPT-Inward Processing Trade), followed by their exports. While the IPT flows entered a slowdown trend, due to gradual diminishing of comparative advantages of Romania, the trade deficits almost doubled as compared to two years ago. The separation of the IPT component from the foreign trade data highlights the importance of the final exports, allowing also for the assessment of related implications on the BoP current account and on the long-term external position of Romania.

Suggested Citation

  • Georgescu, George, 2006. "Inward Processing Trade and Implications for the Balance of Payments Current Account (The Case of Romania)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(1), pages 24-31, March.
    • Handle: RePEc:rjr:romjef:v:3:y:2006:i:1:p:24-31
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    File URL: http://www.ipe.ro/rjef/rjef1_06/rjef1_06_2.pdf
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    Citations

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    Cited by:

    1. Georgescu, George, 2013. "România în perioada post-criză: investiţiile străine directe şi efecte asupra echilibrului financiar extern [Romania in post-crisis period: foreign direct investments and effects on external financ," MPRA Paper 46531, University Library of Munich, Germany.
    2. Georgescu, George, 2014. "International fragmentation of production. Local vulnerabilities and capitalization of heritage values in Romania," MPRA Paper 57255, University Library of Munich, Germany.
    3. Georgescu, George, 2007. "Deficitul de cont curent: Maladie cronică a economiei româneşti ? [Current Account Deficits: A Chronic Disease of the Romanian Economy?]," MPRA Paper 24851, University Library of Munich, Germany.
    4. Zaman, Gheorghe & Georgescu, George, 2018. "Studiu retrospectiv privind comerțul exterior al României în ultimii 100 de ani [A retrospective study on Romania’s external trade in the past 100 years]," MPRA Paper 89707, University Library of Munich, Germany.
    5. Georgescu, George, 2007. "Current Account Deficits and Implications on Country Risk of Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(4), pages 88-96, December.
    6. Antonescu, Daniela, 2015. "Empirical analysis of foreign direct investments at NUTS 2 region, in European Union and Romania," MPRA Paper 65140, University Library of Munich, Germany.
    7. Georgescu, George, 2016. "The world trade data distortion and its contagious impact. A brief comment on the WTO “Made in the World” initiative," MPRA Paper 69483, University Library of Munich, Germany.

    More about this item

    Keywords

    Foreign Trade; Balance of Payments; Economic Growth;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F15 - International Economics - - Trade - - - Economic Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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