Integrating into the Global Economy through Services. The Case of Romania
Services represent a most important and dynamic frontier of international trade and investment. The steady expansion of trade in services and its relative resilience in the recent crisis, coupled with its key role in global production networks and its increasing potential in attracting investment...
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| Format: | Article |
| Language: | English |
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Nicolae Titulescu University
2014-05-01
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| Series: | Global Economic Observer |
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| Online Access: | http://www.globeco.ro/wp-content/uploads/vol/split/vol_2_no_1/geo_2014_vol2_no1_art_017.pdf |
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| author | AGNES GHIBUŢIU ANDRA GHIBUŢIU |
| author_facet | AGNES GHIBUŢIU ANDRA GHIBUŢIU |
| author_sort | AGNES GHIBUŢIU |
| collection | DOAJ |
| description | Services represent a most important and dynamic frontier of international trade and investment. The steady expansion of trade in services and its relative resilience in the recent crisis,
coupled with its key role in global production networks and its increasing potential in attracting investment provides new opportunities for countries to grow their economies and integrate into the global economy. Drawing on insights from current literature and relying on balance of payments and
trade in value-added statistics, this paper examines the main developments shaping Romania’s services trade over the post-crisis years. Its aim is to assess whether the country is seizing the new opportunities arising from services globalization. It finds that following the dramatic crisis-induced decline in the value and performance of Romania’s services trade, the outlook is now radically improving as evidenced by strongly rebounding services flows and net exports. Nonetheless, the country’s integration into the global economy through services flows continues to remain below its potential. |
| format | Article |
| id | doaj-art-271ef05871e441e0a01a4ab421241d95 |
| institution | Kabale University |
| issn | 2343-9742 2343-9750 |
| language | English |
| publishDate | 2014-05-01 |
| publisher | Nicolae Titulescu University |
| record_format | Article |
| series | Global Economic Observer |
| spelling | doaj-art-271ef05871e441e0a01a4ab421241d952025-08-20T04:02:37ZengNicolae Titulescu UniversityGlobal Economic Observer2343-97422343-97502014-05-0121181191Integrating into the Global Economy through Services. The Case of RomaniaAGNES GHIBUŢIU0ANDRA GHIBUŢIU1Senior Research Fellow, PhD, Institute for World Economy, Romanian Academy, ROMANIAAssistant, PhD, Academy of Economic Studies, ROMANIA Services represent a most important and dynamic frontier of international trade and investment. The steady expansion of trade in services and its relative resilience in the recent crisis, coupled with its key role in global production networks and its increasing potential in attracting investment provides new opportunities for countries to grow their economies and integrate into the global economy. Drawing on insights from current literature and relying on balance of payments and trade in value-added statistics, this paper examines the main developments shaping Romania’s services trade over the post-crisis years. Its aim is to assess whether the country is seizing the new opportunities arising from services globalization. It finds that following the dramatic crisis-induced decline in the value and performance of Romania’s services trade, the outlook is now radically improving as evidenced by strongly rebounding services flows and net exports. Nonetheless, the country’s integration into the global economy through services flows continues to remain below its potential.http://www.globeco.ro/wp-content/uploads/vol/split/vol_2_no_1/geo_2014_vol2_no1_art_017.pdfRomaniatrade in servicesglobal economyEuropean Unionservices outsourcingtrade in value-addedglobal value chainstransnational corporations |
| spellingShingle | AGNES GHIBUŢIU ANDRA GHIBUŢIU Integrating into the Global Economy through Services. The Case of Romania Global Economic Observer Romania trade in services global economy European Union services outsourcing trade in value-added global value chains transnational corporations |
| title | Integrating into the Global Economy through Services. The Case of Romania |
| title_full | Integrating into the Global Economy through Services. The Case of Romania |
| title_fullStr | Integrating into the Global Economy through Services. The Case of Romania |
| title_full_unstemmed | Integrating into the Global Economy through Services. The Case of Romania |
| title_short | Integrating into the Global Economy through Services. The Case of Romania |
| title_sort | integrating into the global economy through services the case of romania |
| topic | Romania trade in services global economy European Union services outsourcing trade in value-added global value chains transnational corporations |
| url | http://www.globeco.ro/wp-content/uploads/vol/split/vol_2_no_1/geo_2014_vol2_no1_art_017.pdf |
| work_keys_str_mv | AT agnesghibutiu integratingintotheglobaleconomythroughservicesthecaseofromania AT andraghibutiu integratingintotheglobaleconomythroughservicesthecaseofromania |