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Erschienen in:
2017 | OriginalPaper | Buchkapitel
1. The National and European Context of Industrial Development
verfasst von : Luminiţa Chivu, Constantin Ciutacu, George Georgescu
Erschienen in: Deindustrialization and Reindustrialization in Romania
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Abstract
In the context of analysing the history of industrial revolutions, the authors explore the dramatic changes that have occurred in the global environment, approaching the main causes of the decline in manufacturing’s contribution to gross domestic product (GDP) and industry employment, in the case of post-communist Romania, as a deindustrialization from “Golden Age” to “Iron Scrap Age”. Focusing on the Fourth Industrial Revolution’s differences compared to the three previous ones, the chapter draws attention to the new reindustrialization policies, based on investments in advanced technologies, research and development (R&D) and innovation. The chapter examines the manufacturing factor intensity by groups of industries, concluding that a new policy design is needed Romania to address the traditional trade-offs between horizontal and vertical policies by improving coordination and correcting market failures.