William Davidson Institute Working Paper 402
SECOND PART: ROMANIA UNDER SCRUTINY
5. A basic introduction to the Romanian economic context
From a macroeconomic perspective, Romania must solve two major problems before
it can hope to be on the “short-list” of EU applicants. Firstly, it should bring inflation
down radically, close to a one-digit level. With a yearly inflation rate of 40.6% in
1998, of 55% in 1999, and 40.7% in 2000, Romania is far from matching the EU
norm.
Another major problem for Romanian economy is its meagre growth
performances. From data displayed in Figure 2 it can be seen that Romania has under-
performed Central and Eastern Europe in a significant way.
□ Eastern Europe □ Romania
Figure 2. Annual growth rates in Romania and average growth rates in Central and
Eastern Europe (the Baltics excepted). 1997 to 2000.
Source: Economic Survey of Europe, UN/ECE, 2001.
The unemployment rate also edged up, to reach a peak of 12.5 % in February
2000, although this figure cannot be readily interpreted as bad, if it can be associated
to much needed firm restructuring.
11
More intriguing information
1. The name is absent2. Improving the Impact of Market Reform on Agricultural Productivity in Africa: How Institutional Design Makes a Difference
3. The name is absent
4. The name is absent
5. SOME ISSUES IN LAND TENURE, OWNERSHIP AND CONTROL IN DISPERSED VS. CONCENTRATED AGRICULTURE
6. The name is absent
7. The name is absent
8. Knowledge and Learning in Complex Urban Renewal Projects; Towards a Process Design
9. The purpose of this paper is to report on the 2008 inaugural Equal Opportunities Conference held at the University of East Anglia, Norwich
10. The name is absent