CHANGES IN THE PATTERN OF ROMANIA’S FOREIGN TRADE UNDER THE GLOBAL CRISIS IMPACT

George Georgescu

Romanian Journal of Economics, 2012, vol. 35, issue 2(44), 139-159

Abstract: The pattern of international trade flows has witnessed significant changes under the global crisis impact. In the case of Romania, paradoxically for an emerging country, in terms of product composition during 2007-2010, the share of capital goods decreased in total imports and increased in total exports, while the share of intermediate goods recorded an opposite development. In terms of competitiveness, no evidence of significant changes has been found, the most important export chapters having comparative advantages related to processing trade operations. The lack of an export strategy and of appropriate policies able to sustain Romanian exporters on foreign markets, mainly extra-EU, has become obvious.

Keywords: Global Crisis; International Trade; International Competitiveness; Processing Trade; Export Strategy (search for similar items in EconPapers)
JEL-codes: F10 F15 F40 G01 G28 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:2:y:2012:i:44:p:139-159

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