Romania’s Accession to Second Modernity. Potential of Convergence

• Main Authors: Marin Dinu, Cristian Socol
• Format: Article
• Language: English
• Published: General Association of Economists from Romania 2006-06-01
• Series: Theoretical and Applied Economics
• Subjects: relative convergence; strategic errors; creative learning; modernization process
• Online Access: http://www.ectap.ro/articole/67.pdf

This paper analyses Romanian economy facing with European integration process at 2007. The Romanian economy advanced the development prudent macroeconomics policies and implement structural reforms in the market for goods, labor and financial products. We identify in this study the principal conditionalities for the admittance in European Union. The nominal and real convergence must be touched faster because this process supposes stability prices, the financial soundness indicators, the need to stabilize exchange rate. In addition, the real convergence with European Union is very important. First, we analyze the strategic errors of the Romanian authorities in transition period. Second, our study focuses on current challenges and makes suggestions for change the modernization process. Can Romanian economy obtain a grow faster convergence? Is the strategy of Romanian economy optimal?