International fragmentation of production. Local vulnerabilities and capitalization of heritage values in Romania

George Georgescu

MPRA Paper from University Library of Munich, Germany

Abstract: Due to the extent of markets globalization and of cross-border fragmentation of world production, the international value-added chains development brought about new challenges for emerging countries, many from SEE area, including Romania. The benefits for host countries arising from global production relocating on their territory could be significant in terms of employment, but maintaining active and even enriching the local work skills and cultural heritage. At the same time, these international transactions (through processing trade and/or FDI inflows) create vulnerabilities at the local level. The risks for host countries associated to other areas relocation of production could be mitigated by developing innovative and entrepreneurship heritage as drivers of sustainable growth and post-crisis economic recovery.

Keywords: international fragmentation of production; processing trade; FDI; entrepreneurship heritage; innovative heritage (search for similar items in EconPapers)
JEL-codes: A13 F21 F61 L26 Z10 (search for similar items in EconPapers)
Date: 2014-04-04
New Economics Papers: this item is included in nep-cul and nep-int
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Citations: View citations in EconPapers (1)

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