Aspects regarding the economic transition of Romania

Luca Dumitru Mihai


The purpose of this article is to briefly present the actions taken in Romania's economic transition from a centralized to a market economy and to explain why and where it went wrong. Wrong decisions taken in the transition process will be highlighted, while noting that measures to implement conditions conducive to the functioning of the free market, from macroeconomic stabilization, private sector development, restructuring of the national production system or the formulation and implementation of appropriate social reforms, found a marginal place in the execution of the governing program.

Despite the fact that this process has already begun more than 30 years ago, there are voices claiming that this process has not yet been completed. This is because, although a transition to last a short time was expected, domestic and international social, economic and political events extended the period of uncertainty, with institutional reform being difficult to achieve. All these aspects determined us to look for the answer to the question: Where was wrong that this transition is not yet complete and when will the transition of Romania to a truly functional and wealth-generating market economy be completed?


capitalism, economic reconstruction, market economy, Romania, transition


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