Competitiveness Analysis of the  Romanian Economy

Adriana DIMA (GIRNEATA); Monica NEDELCU

doi:10.18662/lumproc.rsacvp2017.19

Adriana DIMA (GIRNEATA) Assistant Professor, Bucharest University of Economic Studies, Romania
Monica NEDELCU Professor, Bucharest University of Economic Studies, Romania

DOI: https://doi.org/10.18662/lumproc.rsacvp2017.19

Keywords: competitiveness, SWOT analysis, global competitiveness index, pillars of competitiveness

Abstract

Given the extension of globalization, a major strategic objective of advanced countries is to maintain a high level of competitiveness of the economy. This is achieved through policies of revitalizing national industry based inter alia on a permanent contribution of knowledge, at the technological frontier, provided by their own system of innovation or attracted from abroad. Competitiveness is inextricably linked to the performance in the area of creation, development and dissemination of technological innovations. The quality management of the national innovation system is crucial on medium and long term, as no achievement is obtained immediately, any progress is possible only by ensuring synergies between actors, strategies and policies, competitive advantages or friendly environment. Economy and industry performance analysis cannot be dissociated from internal and external influences that have contributed over time to guiding development strategies and their implementation. The current research presents an analysis of the Romanian economy based on data included in the global competitiveness reports, recent studies and personal contributions. Serious deficiencies are found in the basic requirements group, particularly with regard to institutions and infrastructure, which have a negative effect on “efficiency enhancers’ sub-index, especially on the education system, labour and goods. The mentioned influences affect the performance of sophistication and innovation factors, but also the whole system, namely the national economy.

References

[1] Blomqvist, K., Hurmelinn,P., Seppanen,R. Playing the collaboration game right—balancing trust and contracting. Technovation. 2005; 25: 497–504.
[2] Dobrin C, Gîrneaţă A, Uda M. M, Croitoru O. Quality: A Determinant Factor of Competitiveness–The Evolution of ISO Certifications for Management Systems. Proceedings of the International Management Conference 2015; Bucharest. 9(1): 1062-1073.
[3] Fitz-enz, J. The ROI of Human Capital: Measuring the Economic Value of Employee Performance. New York: American Management Association; 2000.
[4] Gîrneaţă A. D. The importance of clusters in the development of the textile and clothing industry. Network Intelligence Studies. 2013; 2: 83-89.
[5] Gîrneaţă A, Dobrin C. Globalization and the Competitiveness of the European Textile and Clothing Industry. The Annals of the University of Oradea. 2015; 1102-1108.
[6] Gîrneaţă A, Mascu M. Development discrepancies between Western and Eastern EU countries: a statistical analysis of textile and apparel clusters. Proceedings of the 8th International Management Conference “Management challenges for the sustainable development”, Bucharest, Romania. 2014, p. 434-442.
[7] Link, A. N., Siegel, D.S. Innovation, Entrepreneurship and Technological Change. New York: Oxford University Press; 2007.
[8] Olteanu, D. Factorul tehnologic şi creşterea economică. Studiu comparativ pentru ţările est şi vest-europene. Oeconomica, 2006; 1: 1-29.
[9] Popescu, C.R., Popescu, G.N, Popescu, V. A. Assessment of the State of Implementation of Excellence Model Common Assessment Framework (CAF) 2013 by the National Institutes of Research – Development – Innovation in Romania. Amfiteatru Economic. 2017; 19(44): 41-60.
[10] Porter, M. E., Delgado, M., Ketels, C. & Stern, S. Moving to a new global competitiveness index. The global competitiveness report. 2009, p.43-63.
[11] Porter, M. E., Sachs, J., Cornelius, P. K., McArthur, J. W. & Schwab, K. The global competitiveness report 2001-2002. New York: Oxford University Press; 2002, p. 16-25.
[12] Porter, M .E. The Competitive Advantage of the Nations. Harvard Business Review. 1990 March-April. p.72-91.
[13] Porter, M. E. Competitive advantage : creating and sustaining superior performance. New York: The Free Press; 1998.
[14] Sala-i-Martin, X., Bilbao-Osorio, B., Di Battista, A., Drzeniek Hanouz, M., Geiger, T, & Galvan, C. The Global Competitiveness Index 2014–2015: accelerating a robust recovery to create productive jobs and support inclusive growth. The global competitiveness report, 2015, p.3-51.
[15] Schwab, K, Porter, M. E., López-Claros, A., World Economic Forum. The global competitiveness report 2007-2008. Basingstoke: Palgrave Macmillan; 2007.
[16] Schwab, K, Porter, M. The global competitiveness report 2008–2009. World Economic Forum; 2008.
[17] Schwab, K. (Ed.). The global competitiveness report 2009-2010. World Economic Forum; 2009.
[18] Shwab, K, Sala-i-Martin, X. The Global Competitiveness Report 2011–2012. Geneva, Switzerland: World Economic Forum; 2010.
[19] Shwab, K, Sala-i-Martin, X. The Global Competitiveness Report: 2012-2013. Geneva, Switzerland: World Economic Forum; 2012.
[20] Schwab, K, Sala-i-Martín, X. The Global Competitiveness Report 2015-2016. Geneva: World Economic Forum; 2015.
[21] Shwab, K., & Sala-i-Martin, X., The Global Competitiveness Report 2016–2017. In World Economic Forum, Geneva, Switzerland. 2016.
[22] Trifu, A. E., & Trifu, M. R., Global Competitiveness Index Representation of Enterprise Performances. In Proceedings of the International Management Conference, Vol. 10, No. 1, 2016. p. 224-233.