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Changes In The Pattern Of Romania’S Foreign Trade Under The Global Crisis Impact

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  • George GEORGESCU

    (The Institute of National Economy)

Abstract

The pattern of international trade flows has witnessed significant changes under the global crisis impact. In the case of Romania, paradoxically for an emerging country, in terms of product composition during 2007-2010, the share of capital goods decreased in total imports and increased in total exports, while the share of intermediate goods recorded an opposite development. In terms of competitiveness, no evidence of significant changes has been found, the most important export chapters having comparative advantages related to processing trade operations. The lack of an export strategy and of appropriate policies able to sustain Romanian exporters on foreign markets, mainly extra-EU, has become obvious.

Suggested Citation

  • George GEORGESCU, 2012. "Changes In The Pattern Of Romania’S Foreign Trade Under The Global Crisis Impact," Romanian Journal of Economics, Institute of National Economy, vol. 35(2(44)), pages 139-159, December.
    • Handle: RePEc:ine:journl:v:2:y:2012:i:44:p:139-159
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    References listed on IDEAS

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    1. Gheorghe Zaman & Valentina Vasile & Mirela Matei & Carmen Croitoru & George Enescu, 2011. "Aspecte ale impactului ISD din România asupra exporturilor si dezvoltarii durabile," Romanian Journal of Economics, Institute of National Economy, vol. 33(2(bis)(42), pages 130-190, December.
    2. Georgescu, George, 2007. "Current Account Deficits and Implications on Country Risk of Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(4), pages 88-96, December.
    3. Nicolas Berman, 2009. "Financial Crises and International Trade: The Long Way to Recovery," Economics Working Papers ECO2009/23, European University Institute.
    4. Pelinescu, Elena & Radulescu, Magdalena, 2009. "The Impact of Foreign Direct Investment on the Economic Growth and Countries’ Export Potential," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 153-169, December.
    5. Zaman, Gheorghe & Georgescu, George, 2011. "Sovereign risk and debt sustainability: warning levels for Romania," MPRA Paper 32924, University Library of Munich, Germany.
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    Cited by:

    1. Gheorghe Zaman & Zizi Goschin, 2017. "Factors That Promote Export Convergence: A Spatial Analysis In Romania," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 11(1), pages 1-17, June.

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    More about this item

    Keywords

    Global Crisis; International Trade; International Competitiveness; Processing Trade; Export Strategy;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F15 - International Economics - - Trade - - - Economic Integration
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • G01 - Financial Economics - - General - - - Financial Crises
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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