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Economic Dynamics and Sustainable Development – Resources, Factors, Structures and Policies

Proceedings ESPERA 2015 – Part 1 and Part 2

Edited By Luminita Chivu, Constantin Ciutacu, Valeriu Ioan-Franc and Jean-Vasile Andrei

The book is dedicated to the 150th anniversary of the Romanian Academy. It contains the most valuable 100 papers presented at the International Conference «Economic Scientific Research – Theoretical, Empirical and Practical Approaches» (ESPERA 2015). The event is initiated annually by the National Institute for Economic Research «Costin C. Kirițescu» of the Romanian Academy. ESPERA aim to present and evaluate the economic scientific research portfolio as well as to argue and substantiate development strategies, including European and global best practices. ESPERA intend to become a scientific support for the conceptualization and the establishment of policies and strategies and to provide a systematic, permanent, wide and challenging dialogue within the European area of economic and social research.

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Features of Long Cycles of Romania’s Economy Evolution (Florin Marius Pavelescu)

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Florin-Marius Pavelescu1

Features of Long Cycles of Romania’s Economy Evolution

Abstract: This paper reveals the long cycles of Romania’s economy evolution and their interdependence with Juglar-type cycles. In this context, a series of theoretical aspects related to identification of long economic cycles are reviewed. Also, some modelling factors of Romania’s long-run economic development are presented. Therefore, during the period of 1831–1947, we can detect four quasi-three-decades economic cycles, which may be re-grouped in two Kondratieff-type cycles. A third Kondratief-type is identified during the period of 1948–1999 being related to experiences of command economy and of the most important part of the second transition to the market economy. In the conclusion, comparisons are made between Kondratief-type cycles of Romania’s economy and the methodological advantages of the notion of “quasi-three-decades economic cycle” are highlighted.

Keywords: Kondratieff-type cycles, economic transitions, industrial structures, foreign trade.

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