Problems in the structure of Romania’s economy
The study focused on the early stage of Romania’s transition to the market economy during 1990-1992, based on statistical data available at that time. Because of the inherited structural distortions, the persistence of strong forces of inertia and the incoherence of economic and monetary policies, the transition to the market economy has been delayed in the early 1990’. In the absence of an adequate outline for de-monopolization and privatization of the economy, the liberalization of prices did not lead to an efficient resources allocation; on the contrary, the structural imbalances between demand and supply have deepened. The fall in industrial output and its poor competitiveness, due to the dominant position of this sector, has pushed the whole economy into a severe recession. A more rigorous management of the reform program, based on realistic assessments of opportunities and resources, with the help of more investments, including by the increase in foreign investments, should foster structural adjustments towards improving industrial performances and implicitly smoothing the way to the market economy.
|Date of creation:||Oct 1994|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mundell, R.A., 1991. "Stabilization Policies in Less Developed and Socialist Countries," Papers 5, United Nations World Employment Programme-.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:29880. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.