REGIONAL ECONOMIC RESILIENCE IN ROMANIA. THE DURATION AND SPEED OF GDP DECLINE RECOVERY AT COUNTY LEVEL

Gheorghe Zaman and George Georgescu

Annals of Faculty of Economics, 2015, vol. 1, issue 2, 92-101

Abstract: The national and regional economic resilience have, on the one hand, their distinct particularities, and, on the other hand, a number of similar features arising especially from common vision and strategic goals, on different time horizons, and from the need for coordination, compatibility, de-concentration and decentralization, subordinated to endogenous sustainable development. The paper approaches the territorial economic resilience in the case of Romania, taking the county as territorial unit of observation and analysis in the context of the national economy and the related endogenous growth. Several aspects of regional economic resilience in Romania are discussed, taking into consideration a new approach of the duration and speed of GDP decline following the recession caused by the international economic and financial crisis. The endogenous development of all counties of Romania can be boosted by promoting knowledge-based re-industrialization strategies and policies for smart specialization, according to the industrial profile and vocation at the county and local levels. Triggering the endogenous potential for sustainable growth in developing regions, counties and municipalities represents a factor of strengthening the economic resilience of a country lato sensu, of increasing its resilience and recovery capacity to internal and external shocks which, in the context of globalization, can bring about speeds and intensities of contagion and spreading at the international scale.

Keywords: global crisis; endogenous development; regional economic resilience; Romania; economic decline recovery; knowledge-based re-industrialization (search for similar items in EconPapers)
JEL-codes: G01 I28 O18 R10 R12 R58 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2015:i:2:p:92-101

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