GLOBAL TRENDS REGARDING THE INCREASE OF THE ROLE OF STATES IN INTERNAL AND INTERNATIONAL ECONOMIC RELATIONS. IMPLICATIONS FOR ROMANIA

Florin Bonciu

Romanian Economic Business Review, 2018, vol. 13, issue 2, 7-14

Abstract: The paper identifies a number of causes that explain the increase of the role of states in internal and international economic relations during the past decade. The causes are both internal (such as the increase of inequality in developed countries, the demographic changes taking place in all countries, the climate changes, the implications of the beginning of the 4th industrial revolution) and international (the emergence of new economic powers in the world economy, the manifestation of military tensions and conflicts, the trend towards the rethinking and replacement of post World War II institutions and mechanisms). Under these new circumstances it seems that the only available entities that can attempt to provide at least reasonable solutions for the challenges mentioned above are the states which may alleviate the inequality issues by new redistribution mechanisms (such as the Universal Basic Income) or may try to find acceptable ways of better dealing with economic partners by means of bilateral and plurilateral negotiations, besides the existing multilateral frameworks. This new and rapidly changing international environment has certain implications for Romania that has to design a new strategy and vision for an effective and efficient participation in the global economy towards the time horizons of 2030 and 2050.

Keywords: growth; development; role of states; inequality; the fourth industrial revolution (search for similar items in EconPapers)
Date: 2018
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