FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM
During the 40 years (1949-1989) of centralized management of the economy, Romania was transformed from an agrarian-industrial country into an industrial-agrarian country, but not beyond the stage of a developing country. Planning the formation of the accumulation fund and the fixed funds allocation...
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| Format: | Article |
| Language: | English |
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Editura Fundatiei Romania de Maine
2016-09-01
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| Series: | Annals of Spiru Haret University Economic Series |
| Online Access: | http://anale.spiruharet.ro/index.php/economics/article/view/742 |
| _version_ | 1818365202485215232 |
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| author | Eugen Ghiorghita |
| author_facet | Eugen Ghiorghita |
| author_sort | Eugen Ghiorghita |
| collection | DOAJ |
| description | During the 40 years (1949-1989) of centralized management of the economy, Romania was transformed from an agrarian-industrial country into an industrial-agrarian country, but not beyond the stage of a developing country.
Planning the formation of the accumulation fund and the fixed funds allocation made possible to faster diversify and increase the industrial production.
In a first stage, during the 8th decade (1971-1980), the increase in imports of capital goods needed in industries’ technology revamping engendered the growth of Romania's foreign debt.
In the 9th decade, the policy of forced payment of previously accumulated foreign debt was achieved by aggressive compression of imports and boost of exports.
At the end, in 1989, Romania's foreign trade structure corresponded almost completely to the structure of the supply from the countries producing industrial processed goods. From this point of view, Romania became, after four decades of accelerated development, an acceptable client to Western exporters. |
| first_indexed | 2024-12-13T22:16:31Z |
| format | Article |
| id | doaj.art-61abff743b7441db8a3e568e279a1a6c |
| institution | Directory Open Access Journal |
| issn | 2393-1795 |
| language | English |
| last_indexed | 2024-12-13T22:16:31Z |
| publishDate | 2016-09-01 |
| publisher | Editura Fundatiei Romania de Maine |
| record_format | Article |
| series | Annals of Spiru Haret University Economic Series |
| spelling | doaj.art-61abff743b7441db8a3e568e279a1a6c2022-12-21T23:29:32ZengEditura Fundatiei Romania de MaineAnnals of Spiru Haret University Economic Series2393-17952016-09-0115493310.26458/1541737FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISMEugen Ghiorghita0Spiru Haret UniversityDuring the 40 years (1949-1989) of centralized management of the economy, Romania was transformed from an agrarian-industrial country into an industrial-agrarian country, but not beyond the stage of a developing country. Planning the formation of the accumulation fund and the fixed funds allocation made possible to faster diversify and increase the industrial production. In a first stage, during the 8th decade (1971-1980), the increase in imports of capital goods needed in industries’ technology revamping engendered the growth of Romania's foreign debt. In the 9th decade, the policy of forced payment of previously accumulated foreign debt was achieved by aggressive compression of imports and boost of exports. At the end, in 1989, Romania's foreign trade structure corresponded almost completely to the structure of the supply from the countries producing industrial processed goods. From this point of view, Romania became, after four decades of accelerated development, an acceptable client to Western exporters.http://anale.spiruharet.ro/index.php/economics/article/view/742 |
| spellingShingle | Eugen Ghiorghita FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM Annals of Spiru Haret University Economic Series |
| title | FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM |
| title_full | FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM |
| title_fullStr | FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM |
| title_full_unstemmed | FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM |
| title_short | FORCED INDUSTRIALIZATION IN ROMANIA AND FOREIGN TRADE CHANGES DURING SOCIALISM |
| title_sort | forced industrialization in romania and foreign trade changes during socialism |
| url | http://anale.spiruharet.ro/index.php/economics/article/view/742 |
| work_keys_str_mv | AT eugenghiorghita forcedindustrializationinromaniaandforeigntradechangesduringsocialism |