IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v10y2023i3p84-101.html
   My bibliography  Save this article

Insight into the resilience of the Romanian economy

Author

Listed:
  • Sorin Somitca

    (Stefan cel Mare University, Romania)

  • Alina Somitca

    (Stefan cel Mare University, Romania)

  • Elena Hlaciuc

    (Stefan cel Mare University, Romania)

Abstract

We are contemporary with various financial crises of global magnitude, starting with the Great Depression of 2008-2009, so-called the "subprime crisis", the economic crisis generated by the COVID 19 pandemic, but also the one that is ongoing nowadays, caused by the Russian-Ukrainian conflict. All these extreme situations generate reactions of the most diverse and challenging to delimit and predict so that the economic entities must show permanent resilience to recover quickly and emerge victorious from the fight with the disturbing phenomena. The present study attempted an x-ray of the Romanian economy after the first year of the COVID pandemic, the most difficult year when the restrictions were among the most severe, analyzing at the same time the years before the beginning of the pandemic for an accurate picture. At the same time, we tried to answer the questions of why a company is more resilient than others using a sample of the top 100 companies in Romania, analyzing the impact on revenue growth of 13 indicators grouped in 4 classes, namely Business efficiency, Sustainable Profitability, Financial Stability, Business dynamics & stability. The obtained results may have significan economic policy implications.

Suggested Citation

  • Sorin Somitca & Alina Somitca & Elena Hlaciuc, 2023. "Insight into the resilience of the Romanian economy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 10(3), pages 84-101, March.
  • Handle: RePEc:ssi:jouesi:v:10:y:2023:i:3:p:84-101
    DOI: 10.9770/jesi.2023.10.3(7)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/39/Somitca_Insight_into_the_resilience_of_the_Romanian_economy.pdf
    Download Restriction: no

    File URL: https://jssidoi.org/jesi/article/1055
    Download Restriction: no

    File URL: https://libkey.io/10.9770/jesi.2023.10.3(7)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Aparicio, Sebastian & Urbano, David & Audretsch, David, 2016. "Institutional factors, opportunity entrepreneurship and economic growth: Panel data evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 45-61.
    2. Ron Martin & Peter Sunley, 2015. "On the notion of regional economic resilience: conceptualization and explanation," Journal of Economic Geography, Oxford University Press, vol. 15(1), pages 1-42.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Marina Capparucci & Emanuela Ghignoni & Alina Verashchagina & Natalia Vorozhbit, 2015. "The Drivers of Innovation in the Italian Manufacturing Sector," Economia & lavoro, Carocci editore, issue 3, pages 111-128.
    2. Tapio Riepponen & Mikko Moilanen & Jaakko Simonen, 2023. "Themes of resilience in the economics literature: A topic modeling approach," Regional Science Policy & Practice, Wiley Blackwell, vol. 15(2), pages 326-356, April.
    3. Roberto Antonietti & Ron Boschma, 2021. "Social capital, resilience, and regional diversification in Italy [Social capital, innovation and growth: evidence from Europe]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 30(3), pages 762-777.
    4. Rodríguez-Puello, Gabriel, 2024. "Digging for Trouble? Uncovering the Link Between Mining Booms and Crime," OSF Preprints s8ayp_v1, Center for Open Science.
    5. Rolando Rubilar-Torrealba & Karime Chahuán-Jiménez & Hanns de la Fuente-Mella & Mercedes Marzo-Navarro, 2022. "Econometric Modeling to Measure the Social and Economic Factors in the Success of Entrepreneurship," Sustainability, MDPI, vol. 14(13), pages 1-15, June.
    6. Yao He & Yongchun Yang & Meimei Wang & Xudong Zhang, 2022. "Resilience Analysis of Container Port Shipping Network Structure: The Case of China," Sustainability, MDPI, vol. 14(15), pages 1-17, August.
    7. Brada, Josef C. & Gajewski, Paweł & Kutan, Ali M., 2021. "Economic resiliency and recovery, lessons from the financial crisis for the COVID-19 pandemic: A regional perspective from Central and Eastern Europe," International Review of Financial Analysis, Elsevier, vol. 74(C).
    8. A D Adom, 2016. "Resilience of developing countries to shocks: Case study of WAEMU countries with SUR and VAR Approaches," Economic Issues Journal Articles, Economic Issues, vol. 21(2), pages 105-138, September.
    9. Decai Tang & Ziqian Zhao & Jiannan Li & Valentina Boamah, 2024. "Research on coupling coordination degree of digital finance and economic resilience in the Yangtze River Economic Belt," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 120(15), pages 14279-14309, December.
    10. Ferreira, Joao J. & Fernandes, Cristina I. & Veiga, Pedro Mota & Caputo, Andrea, 2022. "The interactions of entrepreneurial attitudes, abilities and aspirations in the (twin) environmental and digital transitions? A dynamic panel data approach," Technology in Society, Elsevier, vol. 71(C).
    11. Ugo Fratesi & Giovanni Perucca, 2018. "Territorial capital and the resilience of European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 241-264, March.
    12. Kurikka, Heli & Grillitsch, Markus, 2020. "Resilience in the periphery: What an agency perspective can bring to the table," Papers in Innovation Studies 2020/7, Lund University, CIRCLE - Centre for Innovation Research.
    13. Giulio Cainelli & Roberto Ganau & Marco Modica, 2019. "Does related variety affect regional resilience? New evidence from Italy," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 62(3), pages 657-680, June.
    14. Aparicio, Sebastian & Audretsch, David & Noguera, Maria & Urbano, David, 2022. "Can female entrepreneurs boost social mobility in developing countries? An institutional analysis," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    15. Paolo Rizzi & Paola Graziano & Antonio Dallara, 2018. "A capacity approach to territorial resilience: the case of European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 60(2), pages 285-328, March.
    16. Folorunsho M. Ajide & James T. Dada, 2023. "Poverty, entrepreneurship, and economic growth in Africa," Poverty & Public Policy, John Wiley & Sons, vol. 15(2), pages 199-226, June.
    17. Elias Giannakis & Adriana Bruggeman, 2017. "Economic crisis and regional resilience: Evidence from Greece," Papers in Regional Science, Wiley Blackwell, vol. 96(3), pages 451-476, August.
    18. Cassandra E DiRienzo & Jayoti Das, 2021. "Formal Female Entrepreneurship and the Shadow Economy," Journal of Economics and Behavioral Studies, AMH International, vol. 13(5), pages 63-72.
    19. May Portuguez Castro & Carlos Ross Scheede & Marcela Georgina Gómez Zermeño, 2019. "The Impact of Higher Education on Entrepreneurship and the Innovation Ecosystem: A Case Study in Mexico," Sustainability, MDPI, vol. 11(20), pages 1-17, October.
    20. Kumar, Shantanu & Mehany, Mohammed S.Hashem M., 2022. "A standardized framework for quantitative assessment of cities’ socioeconomic resilience and its improvement measures," Socio-Economic Planning Sciences, Elsevier, vol. 79(C).

    More about this item

    Keywords

    resilience; financial health; crisis; econometric model; economic growth;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:10:y:2023:i:3:p:84-101. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.