The Export Specialization and Investment Potential of the North-East Region of Romania

Daniela Antonescu (), Ioana Florescu and Jovan Zubović

Chapter Chapter 46 in Europe in the New World Economy: Opportunities and Challenges, 2024, pp 713-730 from Springer

Abstract: Abstract From the regional growth perspective (and classic economics, too), the exports represent the exogenous factor with a different impact in time and space. This factor was important, in particular, during the beginning of the growth regional process, its effects being relatively difficult to manage. Additionally, foreign direct investments (FDIs) are seen as a driver for territorial cohesion and convergence, particularly for developing regions, and play a significant role in the growth of national and regional economies. Also, foreign direct investment (FDI) is a crucial instrument for local and regional economic growth and sustainable development. Local businesses can benefit from the new technologies, expertise, and managerial abilities that international corporations bring to the table. Thus, the presence of foreign companies can increase a region’s competitiveness. However, concerns might also be expressed that foreign competitors may force local companies out of the market, so it is important to remember that a net positive impact on the regional economy cannot be taken completely for granted. Because they are especially focused on market globalization, policymakers and investors are interested in the recognition of the FDI determinant variables for the development regions. This paper presents the evolution of the export and import sector, also of the FDI, in North-East region of Romania (NUTS 2) by identifying the main fields of specialization, the opportunities for foreign investors, and the territorial financial support for this important economic sector.

Keywords: Regional development; North-East region; Foreign Direct Investments; Export; Import (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-71329-3_46

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DOI: 10.1007/978-3-031-71329-3_46

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