IMPACT OF THE ROMANIAN INDUSTRIAL SECTOR ON THE COUNTRY’S ECONOMIC PERFORMANCE

Mihai Naghi () and Levente Szasz ()
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Mihai Naghi: Babes-Bolyai University Cluj-Napoca,Faculty of Economics and Business Administration
Levente Szasz: Babes-Bolyai University Cluj-Napoca,Faculty of Economics and Business Administration

Description: Managerial Challenges of the Contemporary Society from Faculty of Economics and Business Administration, Babes-Bolyai University

Abstract: During the recent global economic and financial crisis the evolution of the industrial performance of Romania has received an increased attention by the analysts. In the present paper we will attempt to identify the relationship between the performance of the industrial sector and the country’s economic performance. Based on statistical data, in the first part of the paper we will analyze the current state and stage of development of the industrial sector, considering also its past and recent evolution. Having these data, in the second part of the paper we build an econometric model, by defining a linear regression model, in order to quantify the impact, the direction and the strength of the relationship between the industrial sector and the economic performance of the country. In the third part of the paper we extend our analysis further to examine the role of major industrial subsectors, identifying possible critical subsectors which can have a major impact on future economic development of the country.

Pages: 8 pages
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