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

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  • Georgescu, George

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.

Suggested Citation

  • Georgescu, George, 2014. "International fragmentation of production. Local vulnerabilities and capitalization of heritage values in Romania," MPRA Paper 57255, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:57255
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    References listed on IDEAS

    as
    1. Georgescu, George, 2003. "Inward Processing Trade And The Romanian Foreign Trade," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 112-122, December.
    2. Terrell, Katherine & Jurajda, Štěpán, 2007. "Regional Unemployment and Human Capital in Transition Economies," CEPR Discussion Papers 6569, C.E.P.R. Discussion Papers.
    3. De Backer, Koen & Miroudot, Sébastien, 2014. "Mapping global value chains," Libros de la CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 37176, September.
    4. Neil Foster-McGregor & Robert Stehrer & Gaaitzen Vries, 2013. "Offshoring and the skill structure of labour demand," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(4), pages 631-662, December.
    5. Gregory Mankiw, N. & Swagel, Phillip, 2006. "The politics and economics of offshore outsourcing," Journal of Monetary Economics, Elsevier, vol. 53(5), pages 1027-1056, July.
    6. Gheorghe ZAMAN & Valentina VASILE, 2009. "Economic Contribution Of Copyright-Based Industries And Impact On Employment And Performance Indicators In Knowledge-Based Society Developing In Romania," Romanian Journal of Economics, Institute of National Economy, vol. 28(1(37)), pages 27-53, June.
    7. Georgescu, George, 2006. "Inward Processing Trade and Implications for the Balance of Payments Current Account (The Case of Romania)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(1), pages 24-31, March.
    8. Robert Koopman & William Powers & Zhi Wang & Shang-Jin Wei, 2010. "Give Credit Where Credit Is Due: Tracing Value Added in Global Production Chains," NBER Working Papers 16426, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Georgescu, George, 2016. "The world trade data distortion and its contagious impact. A brief comment on the WTO “Made in the World” initiative," MPRA Paper 69483, University Library of Munich, Germany.

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    More about this item

    Keywords

    international fragmentation of production; processing trade; FDI; entrepreneurship heritage; innovative heritage;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F61 - International Economics - - Economic Impacts of Globalization - - - Microeconomic Impacts
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • Z10 - Other Special Topics - - Cultural Economics - - - General

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