Publication:
Markets and People: Romania Country Economic Memorandum

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dc.contributor.authorWorld Bank
dc.date.accessioned2020-01-23T22:19:38Z
dc.date.available2020-01-23T22:19:38Z
dc.date.issued2020-01-30
dc.description.abstractRomania’s income per capita has increased from 26 percent of the EU-28 average in 2000 to 63 percent in 2017, but this economic success rests on the wobbly foundations of unfavorable demographics, weak human capital, and ineffective institutions. Going forward, stronger competition and better human capital are critical to increasing the economy’s growth potential. Romanian manufacturing firms are exposed to domestic and international competition, ensuring the flow of resources and market shares to more efficient players. This has not been the case for services, where anticompetitive regulations and direct state control often limit efficiency gains. Romanian state-owned enterprises do not compete on an equal footing with private sector firms, distorting market outcomes and hampering the efficient allocation of resources. Removal of these restrictions would have a significant positive impact on GDP growth. Competitively neutral policies are needed to ensure that all enterprises, public or private, domestic or foreign, face the same set of rules. Romania’s human capital accumulation--proxied by the World Bank’s Human Capital Index (HCI)--is the lowest in the European Union and varies widely across counties. Disparities in education outcomes remain relevant across and within regions of Romania. Learning gaps in primary and secondary education persist. These can be seen clearly between urban and rural areas, across regions, and across social groups, requiring changes both at the systems level and at the learning-center level. In the labor market, the automation of production processes has started driving demand for higher levels of cognitive skills, while jobs involving the routine application of procedural knowledge are shrinking in number. A paradigm shift would require reforms in primary and secondary schooling, in addition to more targeted actions, to establish an effective skills development system to bolster human capital.en
dc.identifierhttps://documents.worldbank.org/en/publication/documents-reports/documentdetail/294831583173658317/markets-and-people-romania-country-economic-memorandum
dc.identifier.doi10.1596/978-1-4648-1503-4
dc.identifier.isbn978-1-4648-1503-4
dc.identifier.urihttps://hdl.handle.net/10986/33236
dc.languageEnglish
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesInternational Development in Focus;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectSKILLS
dc.subjectGROWTH
dc.subjectCOMPETITION
dc.subjectPRODUCTIVITY
dc.subjectCONVERGENCE
dc.subjectHUMAN CAPITAL
dc.subjectHCI
dc.subjectHUMAN CAPITAL INDEX
dc.subjectMARKET REGULATION
dc.subjectCOMPETITION POLICY
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectREGIONAL DISPARITIES
dc.subjectPRIMARY EDUCATION
dc.subjectSECONDARY EDUCATION
dc.subjectLEARNING GAP
dc.subjectSCHOOL PERFORMANCE
dc.subjectTEACHER RECRUITMENT
dc.subjectLABOR SKILLS DEVELOPMENT
dc.subjectLABOR MARKET
dc.titleMarkets and Peopleen
dc.title.subtitleRomania Country Economic Memorandumen
dc.typeBooken
dc.typeLivrefr
dc.typeLibroes
dspace.entity.typePublication
okr.crossref.titleMarkets and People: Romania Country Economic Memorandum
okr.date.disclosure2020-01-30
okr.date.doiregistration2025-04-07T08:55:34.142979Z
okr.date.doiregistration2025-04-08T16:28:21.611418Z
okr.date.doiregistration2025-04-09T03:05:16.967564Z
okr.date.doiregistration2025-04-15T11:54:41.028304Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Publication
okr.guid294831583173658317
okr.guid802551502718519493
okr.identifier.doi10.1596/978-1-4648-1503-4
okr.identifier.doihttps://doi.org/10.1596/978-1-4648-1503-4
okr.identifier.internaldocumentum211503
okr.identifier.report146624
okr.importedtrueen
okr.language.supporteden
okr.region.administrativeEurope and Central Asia
okr.region.countryRomania
okr.topicEducation::Secondary Education
okr.topicEducation::Primary Education
okr.topicPrivate Sector Development::Enterprise Development & Reform
okr.topicSocial Protections and Labor::Labor Markets
okr.topicSocial Protections and Labor::Skills Development and Labor Force Training
okr.topicPublic Sector Development::State Owned Enterprise Reform
okr.topicPrivate Sector Development::Competitiveness and Competition Policy
okr.unitECCRO
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