Structural changes of Romanian economy

Abstract

Economic activity in Romania has undergone significant changes over the last 20 years. Some of these changes can be classified as structural changes. Thus, in the national economy, the share of some fields has increased significantly, and the weights of others were significantly reduced. A shift has been in employment, with significant effects on revenue and productivity. A structural change was also within the branches, to sub-branches with a higher technological level. Other changes are qualitative, in order to improve the technical level of production. Qualitative changes are reflected mainly by the significant increase in labor productivity. The paper investigated both qualitative and structural changes. The aim is to highlight trends in economic activity in Romania. This can be useful in establishing objectives of employment and social policies, accelerating the pace of development, and preventing imbalances. Key-words: Economic activity in Romania has undergone significant changes over the last 20 years. Some of these changes can be classified as structural changes. Thus, in the national economy, the share of some fields has increased significantly, and the weights of others were significantly reduced. A shift has been in employment, with significant effects on revenue and productivity. A structural change was also within the branches, to sub-branches with a higher technological level. Other changes are qualitative, in order to improve the technical level of production. Qualitative changes are reflected mainly by the significant increase in labor productivity. The paper investigated both qualitative and structural changes. The aim is to highlight trends in economic activity in Romania. This can be useful in establishing objectives of employment and social policies, to accelerate the pace of development and to prevent imbalances.