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Regional aspects of economic resilience in Romania, during the post-accession period

Gheorghe Zaman () and George Georgescu ()

Romanian Journal of Economics, 2015, vol. 40, issue 1(49), 5-32

Abstract: The paper focuses on the issue of regional resilience to the economic crisis impact in the case of Romania, taking the county as territorial unit of observation. Based on the idea that the shock of a crisis spreads asymmetrically in the territory, with different contagion effects, the study advances a new approach to the speed and duration of GDP decline recovering. Data analysis shows that, at macroeconomic level, Romania has not proved resilient to the crisis impact, after two years of recession and a recovery period of 4 years barely succeeding in 2014 to return to the 2008 GDP level. The research highlighted the differentiated recovery duration of the economic decline in territory, as in 2014 many counties had to recover in the coming years the remained GDP gaps, up to 10 pp or even more. The study paid a specific attention to the crisis impact on employment, focusing on the R&D sector, revealing the endogenous growth generating potential at county level.

Keywords: global crisis; regional economic resilience; economic decline recovery; employment; knowledge-based re-industrialization (search for similar items in EconPapers)
JEL-codes: G01 I28 O18 O33 R10 R12 R58 (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:ine:journl:v:40:y:2015:i:49:p:5-32