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Insight into the resilience of the Romanian economy

Author

Listed:
  • Sorin Somitca

    (Stefan cel Mare University of Suceava, Romania)

  • Alina Somitca

    (Stefan cel Mare University of Suceava, Romania)

  • Elena Hlaciuc

    (Stefan cel Mare University of Suceava, Romania)

Abstract

We are contemporary with various financial crises of global magnitude, starting with the Great Depression of 2008-2009, so-called the "subprime crisis", the economic crisis generated by the COVID 19 pandemic, but also the one that is ongoing nowadays, caused by the Russian-Ukrainian conflict. All these extreme situations generate reactions of the most diverse and challenging to delimit and predict so that the economic entities must show permanent resilience to recover quickly and emerge victorious from the fight with the disturbing phenomena. The present study attempted an x-ray of the Romanian economy after the first year of the COVID pandemic, the most difficult year when the restrictions were among the most severe, analyzing at the same time the years before the beginning of the pandemic for an accurate picture. At the same time, we tried to answer the questions of why a company is more resilient than others using a sample of the top 100 companies in Romania, analyzing the impact on revenue growth of 13 indicators grouped in 4 classes, namely Business efficiency, Sustainable Profitability, Financial Stability, Business dynamics & stability. The obtained results may have significan economic policy implications.

Suggested Citation

  • Sorin Somitca & Alina Somitca & Elena Hlaciuc, 2023. "Insight into the resilience of the Romanian economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(3), pages 84-101, March.
    • Handle: RePEc:ssi:jouesi:v:10:y:2023:i:3:p:84-101
    DOI: 10.9770/jesi.2023.10.3(7)
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    References listed on IDEAS

    as
    1. Ron Martin & Peter Sunley, 2015. "On the notion of regional economic resilience: conceptualization and explanation," Journal of Economic Geography, Oxford University Press, vol. 15(1), pages 1-42.
    2. Aparicio, Sebastian & Urbano, David & Audretsch, David, 2016. "Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 45-61.
    3. Ron Martin & Peter Sunley & Ben Gardiner & Peter Tyler, 2016. "How Regions React to Recessions: Resilience and the Role of Economic Structure," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 561-585, April.
    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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