The Economical Background of Romanian Cities. Case Study: Cities Pitesti and Nehoiu

Nedelea Adelin () and Puncioiu Ana ()
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Nedelea Adelin: University of Bucharest, Faculty of Geography
Puncioiu Ana: University of Bucharest, Faculty of Geography

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 2, 544-547

Abstract: The economy is all human-affine activities undertaken within the production, distribution, trade and consumption of intangible assets. When the economy of a country or a city is well developed the standard of living is decent. If a city is dependent only on one or two branches of the economy, the situation becomes more complicated because if the purchasing power decreases, it will decrease the power output, with negative impacts on jobs or production units. Currently, both Romania and other countries in Europe and all over the world they are facing this problem, which is called the economic downturn. The global economic downturn began in July, 2007, the United States of America, expanding to Europe, the first signs being incurred by the Bank of England and European Central Bank. In Romania, experts have argued that the effects of the economic downturn will be felt starting from 2009. For Pitesti and Nehoiu villages the economic downturn footprint was felt during the year 2009 at a beginner level, but at present the effect deepened. The effects are becoming more acute at both national and local level. Among the effects caused by the global economic downturn, the most important are: the closure of industrial units, the loss of many jobs, a succession of important investments are in a position to no longer be produced and also some of the funds allocated for supporting programs are targeted towards social programs.

Keywords: economic downturn; deprivations; dropping investments (search for similar items in EconPapers)
JEL-codes: O O1 O11 (search for similar items in EconPapers)
Date: 2010
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