Social Investment, Economic Growth and Labor Market Performance: Case Study—Romania

Ramona Olivia Ștefănescu-Mihăilă
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Ramona Olivia Ștefănescu-Mihăilă: Faculty of Marketing and International Business, Spiru Haret University, Bucharest 040042, Romania

Sustainability, 2015, vol. 7, issue 3, 1-19

Abstract: A few years have passed since the financial crisis began with the bankruptcy of the American Lehman Brothers bank and few dare predict the moment when we will overcome the crisis. Chaotic human resource policy in the Romanian economy and complex taxation have lowered our chances to overcome it. Excessive income tax, massive layoffs, not always dictated by real needs in the private sector, hesitation in the government regarding the reorganization of an oversized public sector and the low productivity are only some obstacles in overcoming the crisis. People are a very important factor in the production process and in the success of a company. It is essential that modern organizations rethink their strategies, make long-term investments, and invest in people. Success and survival on the market greatly depend on the understanding of these facts and managers must be aware of their importance.

Keywords: investment in people; intellectual capital; share of education expenditure in the GDP; educational policies; economic development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2015
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