Romania - Restructuring for EU Integration--The Policy Agenda : Country Economic Memorandum, Volume 1. Summary Report

Vista sencilla de ítem
dc.creatorWorld Bank
dc.date2013-09-05T14:24:18Z
dc.date2013-09-05T14:24:18Z
dc.date2004-06
dc.date.accessioned2026-07-01T01:21:41Z
dc.descriptionThis Country Economic Memorandum (CEM) looks at the broad reform program, including institutional, governance, and economic restructuring reforms Romania is pursuing, which are anchored in its process for accession to the European Union (EU). The challenge is to expand integration with the EU more broadly throughout the economy, by relying on market driven mechanisms in a predictable rules-based policy environment, with the state sharply focused on the provision of essential public goods. Implementing the institutional reform agenda is the first priority in the accession-led reform, having the country the largest increase in its share of EU external imports among the Central Eastern European Countries (CEECs), with trade diversification providing a robust foundation for trade expansion. But, to deepen trade integration, Romania would need to broaden its trade performance throughout the economy. On restructuring the enterprise sector, the CEM indicates enterprise reform needs to be accelerated, and budget constraint discipline needs to be extended to the transaction interface between the state and enterprises. As for implementing agricultural transformation, the potential competitiveness of agriculture, associated with Romania's moderate climate, and the availability of land, remains largely untapped. Therefore, agricultural policies and transformation need to be driven by competitiveness. Moreover, increased labor market flexibility is needed to improve sectoral employment imbalances, and competitiveness, and hence reduce the risks to the sustainability of growth, as competing in the EU, and global markets becomes increasingly more difficult. Notwithstanding recent progress, there are risks and vulnerabilities to the macroeconomic stabilization, and reform achievements. The energy sector in Romania has been a main source of persistently large quasi-fiscal deficits, more so than in many other transition economies, with high hidden subsidies, and losses in the energy sector. Completing the energy sector reform is essential, but the challenge is to implement budget constraints between the state and energy enterprises, so as to complete the restructuring of the energy sector. Further recommendations include elimination of quasi-fiscal financing, replaced by efficient financial intermediation, and strengthening the regulatory and supervisory infrastructure; deepening the reforms of the social security system; and, containing the costs of upgrading environmental standards.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2004/06/4411803/romania-restructuring-eu-integration-policy-agenda-country-economic-memorandum-vol-1-2-summary-report
dc.identifierhttps://hdl.handle.net/10986/15646
dc.identifierhttps://doi.org/10.1596/15646
dc.identifier.urihttp://hdl.handle.net/123456789/417389
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectCOUNTRY ECONOMIC WORK
dc.subjectREFORM POLICY
dc.subjectREFORM IMPLEMENTATION: EUROPEAN UNION MEMBERSHIP
dc.subjectECONOMIC INTEGRATION
dc.subjectMARKET DRIVEN
dc.subjectPUBLIC SERVICE DELIVERY
dc.subjectINSTITUTIONAL REFORM
dc.subjectGOVERNANCE APPROACH
dc.subjectECONOMIC REFORM
dc.subjectRESTRUCTURING
dc.subjectTRADE EXPANSION
dc.subjectDIVERSIFICATION PROGRAM
dc.subjectENTERPRISE DEVELOPMENT
dc.subjectPRIVATIZATION
dc.subjectAGRICULTURE IN TRADE
dc.subjectCOMPETITIVENESS
dc.subjectLAND ALLOTMENT
dc.subjectAGRICULTURAL POLICY REFORM
dc.subjectLABOR MARKET NEXUS
dc.subjectEMPLOYMENT CREATION POLICIES
dc.subjectRISK ASSESSMENT
dc.subjectENERGY SECTOR REFORM
dc.subjectFISCAL DEFICITS
dc.subjectBUDGET IMPLEMENTATION
dc.subjectFISCAL MANAGEMENT
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectREGULATORY FRAMEWORK
dc.subjectSOCIAL SECURITY FINANCE
dc.subjectSOCIAL SECTOR REFORM
dc.subjectENVIRONMENTAL REGULATIONS
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTING
dc.subjectADMINISTRATION REFORM
dc.subjectAGRICULTURE
dc.subjectAIR POLLUTION
dc.subjectANTI-CORRUPTION
dc.subjectASSET DECLARATIONS
dc.subjectASSETS
dc.subjectAUDITING
dc.subjectBANK RESTRUCTURING
dc.subjectBANKING SECTOR
dc.subjectBANKRUPTCY
dc.subjectBANKS
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCIVIL SERVICE
dc.subjectCOAL
dc.subjectCOLLATERAL
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectCONSTITUTIONAL AMENDMENTS
dc.subjectCONSUMERS
dc.subjectCORRUPTION
dc.subjectCOUNTRY COMPARISONS
dc.subjectCOURT SYSTEM
dc.subjectCPI
dc.subjectCREDIT RISK
dc.subjectCROWDING OUT
dc.subjectDEBT
dc.subjectDEFICITS
dc.subjectECONOMIC CRITERIA
dc.subjectECONOMIC PERFORMANCE
dc.subjectEMPLOYMENT
dc.subjectENTERPRISE REFORM
dc.subjectENVIRONMENTAL POLICIES
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectEXTREME POVERTY
dc.subjectFARMS
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL VIABILITY
dc.subjectFISCAL
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL SUSTAINABILITY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectGDP
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGOVERNMENT'S REFORM PROGRAM
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHARD BUDGET CONSTRAINTS
dc.subjectIMPORTS
dc.subjectINDEXATION
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectJUDICIAL REFORM
dc.subjectJUDICIARY
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET FLEXIBILITY
dc.subjectLABOR MARKET PARTICIPATION
dc.subjectLABOR MARKET POLICIES
dc.subjectLABOR MOBILITY
dc.subjectLAWS
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLEGISLATIVE FRAMEWORK
dc.subjectLOCAL GOVERNMENTS
dc.subjectMACROECONOMIC ADJUSTMENT
dc.subjectMACROECONOMIC PERFORMANCE
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMINISTRY OF FINANCE
dc.subjectMONETARY POLICY
dc.subjectOIL
dc.subjectPERVERSE INCENTIVES
dc.subjectPOLLUTION REDUCTION
dc.subjectPRIVATIZATION
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPUBLIC ADMINISTRATION
dc.subjectPUBLIC ADMINISTRATION REFORM
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC ENTERPRISES
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC GOODS
dc.subjectPUBLIC OFFICIALS
dc.subjectRATIONALIZATION
dc.subjectREAL GDP
dc.subjectREAL SECTOR
dc.subjectREFERENDUM
dc.subjectREGULATORY FRAMEWORK
dc.subjectRETIREMENT
dc.subjectREVENUE COLLECTION
dc.subjectSECURITIES
dc.subjectSOCIAL SAFETY
dc.subjectSOCIAL SAFETY NET
dc.subjectSOCIAL SECURITY
dc.subjectSOFT BUDGET CONSTRAINTS
dc.subjectSTATE-OWNED ENTERPRISES
dc.subjectSUBSIDIARIES
dc.subjectSUPERVISORY FRAMEWORK
dc.subjectTAX ARREARS
dc.subjectTOTAL COSTS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRANSITION ECONOMIES
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATES
dc.subjectVALUATION
dc.subjectWASTE MANAGEMENT
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleRomania - Restructuring for EU Integration--The Policy Agenda : Country Economic Memorandum, Volume 1. Summary Report

Archivos

Colecciones

AgroKnow