REGIONAL PATTERNS OF ROMANIAN FOREIGN TRADE IN THE AFTERMATH OF THE ECONOMIC CRISIS
Gheorghe Zaman and
Annals of Faculty of Economics, 2016, vol. 1, issue 1, 230-239
The regional degree of competitiveness, specialization and performance are closely linked to regional demand for imports, as well as to regional supply for exports. Given the importance of export and import as influence factors for regional economic development, this paper aims to outline a comprehensive picture of Romanian foreign trade at county level. We analyze the level and dynamics of relevant indicators of regional foreign trade in Romania, aiming to highlight the main spatial patterns, as well as to identify recent trends, with a focus on the impact of the global economic crisis. The recent economic crisis has shown the vulnerabilities entailed by the external opening of the national economy, although the Romanian counties have been more successful in mitigating the negative impact of the economic crisis on the foreign trade than in the case of GDP. The empirical analysis revealed strong differences in counties’ exports over the period 2008 to 2014, with a few developed counties, already situated well above the average national export per inhabitant, continuing to strengthen their combined shares in overall exports. These resilient counties emerged stronger from the recent economic crisis, proving the ability to adapt to the changing post-crisis international environment.
Keywords: export; import; economic crisis; economic resilience; county; Romania (search for similar items in EconPapers)
JEL-codes: R10 R12 R58 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ora:journl:v:1:y:2016:i:1:p:230-239
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