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Competitiveness Analysis of the Romanian Economy

In: Rethinking Social Action. Core Values in Practice

Author

Listed:
  • Adriana DIMA (GIRNEATA)

    (Assistant Professor, Bucharest University of Economic Studies, Romania)

  • Monica NEDELCU

    (Professor, Bucharest University of Economic Studies, Romania)

Abstract

Given the extension of globalization, a major strategic objective of advanced countries is to maintain a high level of competitiveness of the economy. This is achieved through policies of revitalizing national industry based inter alia on a permanent contribution of knowledge, at the technological frontier, provided by their own system of innovation or attracted from abroad. Competitiveness is inextricably linked to the performance in the area of creation, development and dissemination of technological innovations. The quality management of the national innovation system is crucial on medium and long term, as no achievement is obtained immediately, any progress is possible only by ensuring synergies between actors, strategies and policies, competitive advantages or friendly environment. Economy and industry performance analysis cannot be dissociated from internal and external influences that have contributed over time to guiding development strategies and their implementation. The current research presents an analysis of the Romanian economy based on data included in the global competitiveness reports, recent studies and personal contributions. Serious deficiencies are found in the basic requirements group, particularly with regard to institutions and infrastructure, which have a negative effect on “efficiency enhancers’ sub-index, especially on the education system, labour and goods. The mentioned influences affect the performance of sophistication and innovation factors, but also the whole system, namely the national economy.

Suggested Citation

  • Adriana DIMA (GIRNEATA) & Monica NEDELCU, 2017. "Competitiveness Analysis of the Romanian Economy," Book chapters-LUMEN Proceedings, in: Camelia Ignatescu & Antonio SANDU & Tomita CIULEI (ed.), Rethinking Social Action. Core Values in Practice, edition 1, volume 1, chapter 19, pages 198-209, Editura Lumen.
    • Handle: RePEc:lum:prchap:01-19
    DOI: https://doi.org/10.18662/lumproc.rsacvp2017.19
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    References listed on IDEAS

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    • A3 - General Economics and Teaching - - Multisubject Collective Works
    • I2 - Health, Education, and Welfare - - Education
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General

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