The Lisbon Agenda and its Implications for Romania as a New EU Member

Abstract

In the context of EU integration and of pursuing the Lisbon Agenda, Romania’s only strategic option is to abandon as soon as possible its fragile, circumstantial competitive advantage derived from cheap labour, and instead focus on quality, high technology and innovation as instruments for accelerated growth. Considering the large RDI performance gap between Romania and older EU members, it appears that a ‘burning stages’ strategy is required for Romania to maintain a place in the European and global competition. This article discusses some of the approaches that could solve the tension between short-term imperatives for economic survival and the requirement of building a solid path to long-term competitiveness.