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FAMILY-OWNED BUSINESS IN ROMANIA

Constanta-Nicoleta Bodea and Isa Tak ()
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Isa Tak: Academy of Economic Studies, Bucharest, Romania

No 17, Proceedings of the 5th International Conference on Knowledge Management: Projects, Systems and Technologies,Bucharest, November 12-13 2010 from Faculty of Economic Cybernetics, Statistics and Informatics, Academy of Economic Studies and National Defence University "Carol I", Department for Management of the Defence Resources and Education

Abstract: An average annual rate of growth of 6.92% during 2002-2008 has ensured the gradual decrease in the gap between Romania and other EU member states. Key economic indicators are shown in Table 1. The main growth factor for this period has been the domestic demand. Having grown at a steady pace for several years, EU-27 value added generally peaked in the first quarter of 2008. Output fell by 16.6 % for industry to reach a low in the second quarter of 2009 (with modest signs of a recovery thereafter in the second half of 2009, (Eurostat, 2010). The European economy is in the midst of the deepest recession since the 1930s, with real GDP projected to shrink by some 4% in 2009, the sharpest contraction in the history of the European Union. Although signs of improvement have appeared recently, recovery remains uncertain and fragile (European Communities, 2009)."

JEL-codes: L20 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2010-08
New Economics Papers: this item is included in nep-eur and nep-tra
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