[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/eub/ecoecr/v2y2016i1p3-17.html
   My bibliography  Save this article

External trade – key element of national economy evolution under sustainable development circumstances

Author

Listed:
  • Florentina Viorica GHEORGHE

    (Romanian Academy/National Institute of Statistics-Romania)

Abstract
This paper investigate some aspects related to the impact of Romania’s external trade on the sustainability of the national economy during the four periods related to the European Union membership – pre-association (1990-1995), association (1996-2000), pre-accession (2001-2006) and post-accession (2007-2014), emphasing on international flows of goods and services, net trade balance, the trade openess, export and import technological performance at national and community levels. The study addresses the issue of the economic growth, considering different steps taken by Romania in the period 1990-2014, corroborated with those of the international financial crisis which broke out in 2008. The main conclusion of the paper reveals that the evolution of external trade at macroeconomic level failed to counteract the negative effects of the economic crisis in Romania and did not contribute to the sustainability and convergence of Romania. The GDP decline in 2009 and 2010 has been recovered only partially by 2014 even if exports and imports exceeded the maximum level before the crisis.

Suggested Citation

  • Florentina Viorica GHEORGHE, 2016. "External trade – key element of national economy evolution under sustainable development circumstances," Eco-Economics Review, Ecological University of Bucharest, Economics Faculty and Ecology and Environmental Protection Faculty, vol. 2(1), pages 3-17, June.
    • Handle: RePEc:eub:ecoecr:v:2:y:2016:i:1:p:3-17
    as

    Download full text from publisher

    File URL: http://ueb.ro/RePEc/eub/ecoecr/2016v1/eer2016v1a01.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Judith Giles & Cara Williams, 2001. "Export-led growth: a survey of the empirical literature and some non-causality results. Part 2," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 9(4), pages 445-470.
    2. Christian Dreger & Dierk Herzer, 2013. "A further examination of the export-led growth hypothesis," Empirical Economics, Springer, vol. 45(1), pages 39-60, August.
    3. Lechman Ewa, 2014. "Changing Patterns in the Export of Goods Versus International Competitiveness. A Comparative Analysis for Central-East European Countries in the Period 2000–2011," Comparative Economic Research, Sciendo, vol. 17(2), pages 1-17, June.
    4. ., 2007. "Technological Lock-in and the Role of Innovation," Chapters, in: Giles Atkinson & Simon Dietz (ed.), Handbook of Sustainable Development, chapter 9, Edward Elgar Publishing.
    5. Robert Z. Lawrence & Lawrence Edward, 2010. "US Trade and Wages: The Misleading Implications of Conventional Trade Theory," Working Paper Series WP10-9, Peterson Institute for International Economics.
    6. ., 2007. "Technology transfer to developing countries," Chapters, in: International Economic Law and the Digital Divide, chapter 8, Edward Elgar Publishing.
    7. Francisco L. Rivera-Batiz & Luis A. Rivera-Batiz, 2018. "Economic Integration and Endogenous Growth," World Scientific Book Chapters, in: Francisco L Rivera-Batiz & Luis A Rivera-Batiz (ed.), International Trade, Capital Flows and Economic Development, chapter 1, pages 3-32, World Scientific Publishing Co. Pte. Ltd..
    8. ., 2007. "From No Technology to All Technology," Chapters, in: Understanding Technological Innovation, chapter 1, Edward Elgar Publishing.
    9. Jesús Crespo Cuaresma & Julia Wörz, 2005. "On Export Composition and Growth," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 141(1), pages 33-49, April.
    10. ., 2007. "The Time of Technology," Chapters, in: Understanding Technological Innovation, chapter 5, Edward Elgar Publishing.
    11. Judith Giles & Cara Williams, 2001. "Export-led growth: a survey of the empirical literature and some non-causality results. Part 1," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 9(3), pages 261-337.
    12. Albu, Lucian Liviu, 2013. "Foreign Trade and FDI as Main Factors of Growth in the EU," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 7-17, June.
    13. Lechman, Ewa, 2014. "Changing patterns of export of goods versus macroeconomic competitiveness. A comparative analysis for East-Central European countries in the period 2000-2011," MPRA Paper 53639, University Library of Munich, Germany.
    14. Fosu, Augustin Kwasi, 1990. "Export composition and the impact of exports on economic growth of developing economies," Economics Letters, Elsevier, vol. 34(1), pages 67-71, September.
    15. Sacchidananda Mukherjee & Debashis Chakraborty, 2013. "Is environmental sustainability influenced by socioeconomic and sociopolitical factors? cross‐country empirical evidence," Sustainable Development, John Wiley & Sons, Ltd., vol. 21(6), pages 353-371, November.
    16. repec:zbw:bofitp:2003_008 is not listed on IDEAS
    17. Robert E. Baldwin, 2000. "Trade and Growth: Still Disagreement about the Relationships," OECD Economics Department Working Papers 264, OECD Publishing.
    18. ., 2007. "Technological Imaginaire," Chapters, in: Understanding Technological Innovation, chapter 6, Edward Elgar Publishing.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gheorghe Zaman & Zizi Goschin, 2016. "Regional Patterns Of Romanian Foreign Trade In The Aftermath Of The Economic Crisis," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 230-239, July.
    2. Gheorghe Zaman & Florentina-Viorica Gheorghe & Artur-Emilian Simion, 2016. "Some Characteristics Of Romania’S External Trade In The Period 1990-2014," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 207-229, July.
    3. repec:agr:journl:v:2(602):y:2015:i:2(602):p:43-54 is not listed on IDEAS
    4. Anca Maria GHERMAN & George ȘTEFAN, 2015. "Exports – trends and impacts on Romania’s economic growth process," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(603), S), pages 43-54, Summer.
    5. Paolo Guerrieri & Sara Bentivegna (ed.), 2011. "The Economic Impact of Digital Technologies," Books, Edward Elgar Publishing, number 14361.
    6. Galimberti, Jaqueson K., 2009. "Conditioned Export-Led Growth Hypothesis: A Panel Threshold Regressions Approach," MPRA Paper 13417, University Library of Munich, Germany.
    7. Julio César Arteaga & Mónica Liseth Cardozo & Márcia Jucá T. Diniz, 2020. "Exports to China and economic growth in Latin America, unequal effects within the region," International Economics, CEPII research center, issue 164, pages 1-17.
    8. Yin-Chi Wang, 2011. "Health, Education and Development," 2011 Meeting Papers 1263, Society for Economic Dynamics.
    9. Daniel Koshiyama & Denilson Alencastro & Adelar Fochezatto, 2007. "International Trade and Economic Growth in Latin America: a Granger Causality Analysis with Panel Data," EcoMod2007 23900046, EcoMod.
    10. Joachim Wagner, 2007. "Exports and Productivity in Germany," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot, Berlin, vol. 53(4), pages 353-373.
    11. Christian Dreger & Dierk Herzer, 2013. "A further examination of the export-led growth hypothesis," Empirical Economics, Springer, vol. 45(1), pages 39-60, August.
    12. Joachim Wagner, 2016. "Exports and Productivity: A Survey of the Evidence from Firm Level Data," World Scientific Book Chapters, in: Microeconometrics of International Trade, chapter 1, pages 3-41, World Scientific Publishing Co. Pte. Ltd..
    13. Joshua J. Lewer & Hendrik Van den Berg, 2003. "How Large Is International Trade’s Effect on Economic Growth?," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 363-396, July.
    14. Vera Vargas, Javier Alejandro & Kristjanpoller Rodríguez, Werner, 2016. "Causalidad de Granger entre composición de las exportaciones, crecimiento económico y producción de energía eléctrica: evidencia empírica para Latinoamérica," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 86, pages 25-62, December.
    15. AfDB AfDB, 2005. "Working Paper 76 - Are Exports the Engine of Economic Growth? An Application of Cointegration and Causality Analysis for Egypt, 1977 - 2003," Working Paper Series 2210, African Development Bank.
    16. Myovella, Godwin A. & Paul, Fintan & Rwakalaza, Rameck T., 2015. "Export-Led Growth Hypothesis: Evidence from Agricultural Exports in Tanzania," African Journal of Economic Review, African Journal of Economic Review, vol. 3(2), July.
    17. Ricardo A. López, 2005. "Trade and Growth: Reconciling the Macroeconomic and Microeconomic Evidence," Journal of Economic Surveys, Wiley Blackwell, vol. 19(4), pages 623-648, September.
    18. Yaya KEHO, 2017. "The Exports and Economic Growth Nexus in Cote D ivoire: Evidence from a Multivariate Time Series Analysis," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 5(2), pages 135-146, June.
    19. Ana Paula Ribeiro & Paula Gracinda Teixeira Santos & Vitor Carvalho, 2013. "Export-led growth in Europe: Where and what to export?," EcoMod2013 5265, EcoMod.
    20. Quaicoe, Alexander & Aboagye, Anthony Q.Q. & Bokpin, Godfred A., 2017. "Assessing the impact of export processing zones on economic growth in Ghana," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1150-1163.
    21. Bhushan Praveen Jangam & Badri Narayan Rath, 2021. "Does global value chain participation enhance domestic value‐added in exports? Evidence from emerging market economies," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 1681-1694, April.

    More about this item

    Keywords

    trade balance; deficit; export; import; economic growth; GDP; sustainable development;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eub:ecoecr:v:2:y:2016:i:1:p:3-17. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Antoniade Ciprian Alexandru (email available below). General contact details of provider: https://www.ueb.ro/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.