Entrepreneurship and Short-Term Labor Market Sustainable Functioning—The Case of Romania

Speranţa Pîrciog, Adriana Grigorescu (), Cristina Lincaru and Cătalin-Corneliu Ghinăraru
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Speranţa Pîrciog: National Scientific Research
Adriana Grigorescu: National University of Political Studies and Public Administration
Cătalin-Corneliu Ghinăraru: National Scientific Research

A chapter in Digital Economy and New Value Creation, 2022, pp 251-274 from Springer

Abstract: Abstract If contractual work (waged) is traditional employment, “the new work” is represented by entrepreneurship and self-employment and to a certain extent by various forms of “subsistence economy”. We develop an instrument to understand how new work shapes the short-term labor market's sustainable functioning. The dynamic interaction between labor market macro-aggregates related to employment status is treated in a systemic approach. We analyze the Granger Causality (GC) relations between contractual/dependent work, non-contractual/independent work and the work’s social protection. A total of 14 VAR models have been analyzed following the Toda and Yamamoto (J. Econ. 66: 225–250, 1995) procedure as detailed by Giles (Testing for granger causality. Econometrics beat: dave giles, 2011), using 2 datasets (1999Q1-2018Q1 and 2008Q1-2018Q1). The main conclusion is that only a sustainable entrepreneurship mechanism could make the Romanian labor market suitable for the actual challenges. A powerful call for a new type of entrepreneurial behavior becomes evident in the case of Romania.

Keywords: Sustainable entrepreneurship; Waged employment; Self-employment; Unemployment; Innovation (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-07265-9_19

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DOI: 10.1007/978-3-031-07265-9_19

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