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Entrepreneurship and Short-Term Labor Market Sustainable Functioning—The Case of Romania

In: Digital Economy and New Value Creation

Author

Listed:
  • Speranţa Pîrciog

    (National Scientific Research)

  • Adriana Grigorescu

    (National University of Political Studies and Public Administration)

  • Cristina Lincaru

    (National Scientific Research)

  • Cătalin-Corneliu Ghinăraru

    (National Scientific Research)

Abstract

If contractual work (waged) is traditional employment, “the new work” is represented by entrepreneurship and self-employment and to a certain extent by various forms of “subsistence economy”. We develop an instrument to understand how new work shapes the short-term labor market's sustainable functioning. The dynamic interaction between labor market macro-aggregates related to employment status is treated in a systemic approach. We analyze the Granger Causality (GC) relations between contractual/dependent work, non-contractual/independent work and the work’s social protection. A total of 14 VAR models have been analyzed following the Toda and Yamamoto (J. Econ. 66: 225–250, 1995) procedure as detailed by Giles (Testing for granger causality. Econometrics beat: dave giles, 2011), using 2 datasets (1999Q1-2018Q1 and 2008Q1-2018Q1). The main conclusion is that only a sustainable entrepreneurship mechanism could make the Romanian labor market suitable for the actual challenges. A powerful call for a new type of entrepreneurial behavior becomes evident in the case of Romania.

Suggested Citation

  • Speranţa Pîrciog & Adriana Grigorescu & Cristina Lincaru & Cătalin-Corneliu Ghinăraru, 2022. "Entrepreneurship and Short-Term Labor Market Sustainable Functioning—The Case of Romania," Springer Proceedings in Business and Economics, in: Mihail Busu (ed.), Digital Economy and New Value Creation, pages 251-274, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-07265-9_19
    DOI: 10.1007/978-3-031-07265-9_19
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