THE IMPACT OF ROMANIA'S ACCESSION ON ECONOMIC GROWTH

Mihaela Dârzan (), Alexandru Ionescu () and Elena-Raluca Cristian ()
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Mihaela Dârzan: Romanian American University
Alexandru Ionescu: Romanian American University
Elena-Raluca Cristian: Romanian American University

Romanian Economic Business Review, 2013, vol. 8, issue 3.1, 26-34

Abstract: The EU integration is a complex process that involves a series of coherent actions taken by the New Member States which must give priority to both nominal and real convergence in order to eventually succeed to adopt the single currency. Romania has made a significant progress, but the vulnerability of the economy was quite high when the spread of the economic-financial crisis occurred,since the economic development has not reached a sustainable level and it has been based on ineffective principles (too much consumption and indebtedness). The forecasts concerning the integration showed the growth would continue for 3-4 years, but it was proved to be inappropriate, because Romania, along with some of the new members have considerably suffered from external negative phenomena triggered by the global crisis.

Keywords: economic growth; convergence; European Union; gross domestic product; foreign direct investments; productivity (search for similar items in EconPapers)
Date: 2013
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