WEKO3
アイテム
The Look of Stagniation : Romania's Erratic Transition
http://hdl.handle.net/2261/2418
http://hdl.handle.net/2261/24183bcd2d7f-168e-4223-9e82-61e545cfdac2
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2012-01-13 | |||||
| タイトル | ||||||
| タイトル | The Look of Stagniation : Romania's Erratic Transition | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| 著者 |
Punzo, Lionello F.
× Punzo, Lionello F. |
|||||
| 著者所属 | ||||||
| 著者所属 | University of Siena | |||||
| 著者所属 | ||||||
| 著者所属 | CIRJE | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | A transition path is expected to lead, eventually, to economic performance and sectoral structure typical of market economies. This twofold result would issue from a complex resource re-allocation process, almost automatically igniting a new mechanism of accumulation and growth. Romania's experience of persistent fluctuations around a descending trend, however, seems to contradict such notion of the one-way, self-fuelling path. It causes us to rethink some of the analytical tools and theories economists are using everyday. In this paper, I will offer the reflections of an academician together with, hopefully, some more practical suggestions. My main point is that an analysis focusing solely upon resource re-allocation mechanisms cannot fully account for Romania's erratic transition because it tends to miss the link with the dual processes of accumulation and creation of new resources. I will, therefore, reconstruct the "other side" of Romania's story by looking at its dynamic structure, described by the distribution of the economy's sectoral paths. The evolution over time of such distribution is the key to understanding the two issues of macroeconomic vulnerability and the non-sustainability of the country's current situation. Thus, the dynamics of Romania's economy is treated as a specimen of an independent variety of transition. It is one that not only proves unable to initialise and then sustain long-term growth; it seems to actually absorb and destroy more resources than it creates, in this way generating a slow agony from time to time interrupted sudden bursts of activity. The term dynamic trap is meant to describe such a repeating pattern of wild fluctuations around a contracting trend. Due partly to the short time horizon and data availability, the conclusions of the foregoing analysis can only be tentative. Still, they clearly point out the need to re-consider policy for Romania and similar countries. In particular, measures are required to put in place and to enhance mechanisms of technology transfers, to re-orient sectoral composition that generates trade specialization, and generally to create conditions for an accelerated process of accumulation of physical as well as human capital assets. The economic environment in such countries seems unable to process macroeconomic policies in the expected way. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 本文フィルはリンク先を参照のこと | |||||
| 書誌情報 |
Discussion paper series. CIRJE-F 巻 CF-142, 発行日 2001-12 |
|||||
| 書誌レコードID | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AA11450569 | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 330 | |||||
| 出版者 | ||||||
| 出版者 | 日本経済国際共同センター | |||||
| 出版者別名 | ||||||
| Center for International Research on the Japanese Economy | ||||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2001/2001cf142.pdf | |||||
