Publication:
Romania's Integration into European Markets: Implications for Sustainability of the Current Export Boom

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dc.contributor.authorKaminski, Bartlomiej
dc.contributor.authorNg, Francis
dc.date.accessioned2013-06-26T14:00:08Z
dc.date.available2013-06-26T14:00:08Z
dc.date.issued2004-11
dc.description.abstractIn defiance of its unimpressive track in structural reforms and relatively low foreign direct investment (FDI) inflows, Romanian exports have experienced surprisingly strong performance in both European Union (EU) and non-EU markets since 2000 after a four-year period of flat growth. While the first phase of growth in 1992-95 can be easily explained by redirection of trade toward the EU once the state monopoly over foreign trade was abolished and other policy areas liberalized, the current second phase of export expansion raises questions concerning its drivers and sustainability. Having examined overall foreign trade performance, evolving patterns of specialization, Romania's competitiveness in EU sunrise markets, changes in factor intensities of trade with the EU, and "intra-product" trade, the authors conclude that Romania's export offer has become diversified, reflecting an impressive progress in industrial restructuring. Restructuring has been facilitated by FDI inflows, even though they appear to have been too small to generate such a big effect. Romanian firms have become increasingly part of international production networks and traditional global value chains. Sustainability of this performance depends on maintaining macroeconomic stability and keeping wage increases in line with productivity growth, as well as increasing Romania's ability to attract larger FDI inflows through improvements in business climate and trade facilitation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2004/11/5449409/romanias-integration-european-markets-implications-sustainability-current-export-boom
dc.identifier.doi10.1596/1813-9450-3451
dc.identifier.urihttps://hdl.handle.net/10986/14189
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, D.C.
dc.relation.ispartofseriesPolicy Research Working Paper;No.3451
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN MARKETS
dc.subjectFDI
dc.subjectGROWTH
dc.subjectWAGES
dc.subjectMACRO STABILITY
dc.subjectVALUE CHAINS
dc.subjectEXPORTS
dc.subjectTRADE
dc.subjectFOREIGN TRADE
dc.subjectINVESTMENTS
dc.subjectINTEGRATION
dc.subjectINTRA-PRODUCT TRADE
dc.subjectFOREIGN INVESTMENT
dc.subjectINDUSTRIAL RESTRUCTURING
dc.subjectMULTINATIONAL CORPORATIONS
dc.subjectBACKWARD LINKAGES
dc.titleRomania's Integration into European Markets: Implications for Sustainability of the Current Export Boomen
dspace.entity.typePublication
okr.crossref.titleRomania’s Integration into European Markets: Implications for Sustainability of the Current Export Boom
okr.date.doiregistration2025-04-10T09:48:26.092068Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2004/11/5449409/romanias-integration-european-markets-implications-sustainability-current-export-boom
okr.globalpracticeTrade and Competitiveness
okr.guid130651468780943520
okr.identifier.doi10.1596/1813-9450-3451
okr.identifier.externaldocumentum000160016_20041201102501
okr.identifier.internaldocumentum5449409
okr.identifier.reportWPS3451
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2004/12/01/000160016_20041201102501/Rendered/PDF/WPS3451.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.countryRomania
okr.topicInternational Economics and Trade::Free Trade
okr.topicInternational Economics and Trade::Trade Policy
okr.topicInternational Economics and Trade::Export Competitiveness
okr.topicEconomic Theory and Research
okr.topicAgribusiness and Markets
okr.topicEnvironmental Economics and Policies
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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