 Problems in the structure of Romania’s economyLucian Albu () and George Georgescu MPRA Paper from University Library of Munich, Germany Abstract: The study focused on the early stage of Romania’s transition to the market economy during 1990-1992, based on statistical data available at that time. Because of the inherited structural distortions, the persistence of strong forces of inertia and the incoherence of economic and monetary policies, the transition to the market economy has been delayed in the early 1990’. In the absence of an adequate outline for de-monopolization and privatization of the economy, the liberalization of prices did not lead to an efficient resources allocation; on the contrary, the structural imbalances between demand and supply have deepened. The fall in industrial output and its poor competitiveness, due to the dominant position of this sector, has pushed the whole economy into a severe recession. A more rigorous management of the reform program, based on realistic assessments of opportunities and resources, with the help of more investments, including by the increase in foreign investments, should foster structural adjustments towards improving industrial performances and implicitly smoothing the way to the market economy. Keywords: economic growth; transitional economies; structural adjustments; industrial restructuring; privatization; foreign investments; informal economy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:29880 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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