Aspects of Price Competitiveness in the Context of Preparing for Accession to the Euro Zone. New Challenges for Entrepreneurs. Romania’s Case

Authors

  • Lucian Claudiu ANGHEL National University of Political Studies and Public Administration
  • Florina Magdalena PÎNZARU National University of Political Studies and Public Administration
  • Mihaela DINU National University of Political Studies and Public Administration

Abstract

In the process of preparing a state for the accession to the Euro Zone it is essential to analyze the price competitiveness of that state’s economy and the challenges that entrepreneurs will have to face in the new economic environment. In the present paper the authors want to capture some aspects of the competitiveness of the Romanian economy and implicit its entrepreneurs with emphasis on price competitiveness, whereas accession to the Euro Zone implies giving up to the independence of exchange rate policy, with a huge impact on price competitiveness. For this purpose this study will highlight a few elements on the relative importance of price competitiveness of entrepreneurs’ exports performance. The process of accessing Euro Zone creates significant changes in the existing way of conducting business and impacts significantly entire business environment – and this will become evident also for Romania.

Author Biography

Lucian Claudiu ANGHEL, National University of Political Studies and Public Administration

College of Management, NUPSPA, 6 Povernei St., Sector 1, 010643, Bucharest, Romania

References

Allard, C. (2009). Competitiveness in Central-Europe: What Has Happened Since EU Accession? IMF Working Paper WP/09/121.

Altăr, M., Albu, L. L., Dumitru, I., and Necula C. (2009). Estimarea cursului real de echilibru şi a deviaţiilor pentru România [The estimation of the real equilibrium exchange rate and of the deviations in Romania]. National Institute of Economic Research, Economic Studies 090706.

Anghel, L.C. (2013). Economia pe înțelesul tuturor [Economics for Dummies]. Bucharest: Tritonic.

Banca Națională a României (2011). Raport asupra Stabilităţii Financiare [Report on Financial Stability]. Available at www.bnr.ro.

Banca Națională a României (2012). Raport asupra Stabilităţii Financiare [Report on Financial Stability]. Available at www.bnr.ro.

Bojeşteanu, E. (2010). Relaţii Monetar-Financiare Internaţionale [International Monetary and Financial Relationships]. Bucharest: ASE Publishing House.

Bojeşteanu, E., Iordache, Ş., Leonte, A., and Manu, A.S. (2012). Ajustarea dezechilibrului extern în economiile emergente. Este experienţa României diferită? [The adjustment of external disequilibrium in emergent economies. Is the experience of Romania different?]. Colocviile BNR de Politică Monetară. Elemente ale cadrului de analiză şi prognoză al politicii monetare [The Monetary Politics Colloquies of NBR. Elements of analysis and prognosis of the monetary politics], Vth edition.

Codirlaşu, A., and Chideşciuc, A.N. (2004). Estimarea efectului Balassa-Samuelson în România [The estimation of the Balassa-Samuelson effect in Romania]. Tineri Economişti Conference, National Bank of Romania.

Dumitru, I. (2008). Efectul Balassa-Samuelson în România – rolul preţurilor reglementate [The Balassa-Samuelson effect in Romania – the role of fixed prices]. MPRA Working Paper no. 18611.

Eichengreen, B., Hausmann, R., and Panizza, U. (2003). The Pain of Original Sin. In Barry Eichengreen and Ricardo Hausmann (Eds.), Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economics (pp.13-47). Chicago: University of Chicago Press.

International Monetary Fund (2002). Assessing Sustainability. Retrieved from http://www.imf.org/external/np/pdr/sus/2002/eng/052802.htm.

International Monetary Fund (2010). Romania - Staff Report for the 2010 Article IV Consultation, Fourth Review Under the Stand-By Arrangement, and Requests for Modification and Waiver of Nonobservance of Performance Criteria. Retrieved from http://www.imf.org/external/pubs/ft/scr/2010/cr10227.pdf

International Monetary Fund (2012). Romania - Fifth Review under the Stand-By Arrangement, and Requests for Modification and Waiver of Nonobservance of Performance Criteria. Retrieved from http://www.imf.org/external/pubs/ft/scr/2012/cr12157.pdf

Isărescu, M. (2008). Probleme ale politicii monetare într-o economie emergentă. Cazul României [Problems of the economic politics in an emergent economy. The case of Romania]. Royal Academy of Economic and Financial Sciences.

Krugman, P.R., and Obstfeld, M. (2006). International Economics. Theory and Policy. Addison Wesley: Pearson.

Mundell, R.A. (1968). International Economis. New York: Macmillan.

Turner, P., and Van’t dack, J. (1993 November). Measuring international price and cost competitiveness. BIS Economic Papers, No. 39. Basel: Bank for International Settlements.

http://ec.europa.eu/economy_finance/db_indicators/competitiveness/index_en.htm

http://www.bis.org/statistics/eer/index.htm.

Downloads

Published

2014-12-29

How to Cite

ANGHEL, L. C., PÎNZARU, F. M., & DINU, M. (2014). Aspects of Price Competitiveness in the Context of Preparing for Accession to the Euro Zone. New Challenges for Entrepreneurs. Romania’s Case. Management Dynamics in the Knowledge Economy, 2(3), 525. Retrieved from https://www.managementdynamics.ro/index.php/journal/article/view/74

Issue

Vol. 2 No. 3 (2014): Issue 6

Section

Articles

License

Under the Creative Commons Attribution-NonCommercial-NoDerivs license, the users are free to share (copy, distribute and transmit the contribution) with the condition to attribute the contribution in the manner specified by the author or licensor. They may not alter, transform, or build upon this work.