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Romanian industry facing European skilful

Daniel Margus
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Daniel Margus: Centre for Industrial Economics and Services, Romanian Academy, Bucharest

Revista de Economie Industriala (Journal of Industrial Eonomics), 2008, vol. 6, issue 1, 13-19

Abstract: The main source of discrepancy between Romanian and European competitiveness is represented by the skilful gap. Skilful, as a major component of Total Factor Productivity - TFP, represents by definition the part of productivity growth that cannot be assigned to an easily measurable factor such as capital deepening or improved labor quality, but must be assigned to less tangible factors such as technical and organizational progress. All policies covered by the microeconomic section of the Lisbon strategy (fostering R&D, using ICTs, enhancing competition and product markets reform and infrastructures) are likely more relevant. There exists an intimate relationship between skills and productivity. At individual level, a worker's educational background has a strong impact on his or her wage. Pundits also argue that at aggregate level, the average educational attainment of a country's labor force is proportionate to its aggregate productivity. Basically, human capital contributes to productivity, both at individual level, and at macroeconomic level of the workers.

Keywords: skilful; competitiveness; educational background (search for similar items in EconPapers)
JEL-codes: J24 (search for similar items in EconPapers)
Date: 2008
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Handle: RePEc:cei:recind:v:6:y:2008:i:1:p:13-19