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Institutional implications on the development of the Romanian business environment – lessons for candidate countries

Author

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  • Voicilas, Dan Marius
  • Popescu, Gabriel
  • Andrei, Jean Vasile

Abstract

Theoretical approaches and macroeconomic policies implemented after 1990 in Central and Eastern Europe were different and controversial, from country to country. Generally, they tried to build a proper business environment, focused on structural changes, macroeconomic stability and competitivity. In this evolution, the capital played a crucial role and having in view the opportunities and the priorities for each economy, there were a strong competition in the attraction of the foreign investments and development of those economic branches strategic and attractive. The institutional frame and legislation have the main contribution to the establishment of the proper business environment in economy. The results of the policies implemented can be influenced by the relations between institutions and „actors” from the market. The relational process has met different barriers of diverse nature, having in view the characteristics of each country. That is why the experience of the New Member States can be an example for candidate countries. The attitude of the investors can give us the measure of the maturity of the economy. The experience of the last years shows us how important is the institutional frame created for coordination, assistance, implementation, or evaluation of national and EU policies in rural development. In this paper we want to highlight the importance of the relations between business and institutions as regulator and interface, lessons for candidate countries based on the experience of the New Member States. We include in this analysis the institutions and organizations which have attributes in investment field. Based on the analysis of the contribution of the institutions on the creation of the business environment, having in view the recommendations of the investors and their perception of the market, we can realize a profile of the economy and give examples for candidate countries.

Suggested Citation

  • Voicilas, Dan Marius & Popescu, Gabriel & Andrei, Jean Vasile, 2012. "Institutional implications on the development of the Romanian business environment – lessons for candidate countries," Rural Areas and Development, European Rural Development Network (ERDN), vol. 9, pages 1-20.
    • Handle: RePEc:ags:erdnra:164897
    DOI: 10.22004/ag.econ.164897
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