Business Cycle Dynamics in the Romanian Economy: Phases and Developments

Abstract

Romania's economy is not yet sufficient / complete and competitive connected to the developed European economy and the global one. In recent economic and general political history, the political, institutional and economic changes that have taken place since 1990 in Central and Eastern Europe, including Romania, are already recognized. The article deals with the evolutionary situational stages towards the New Economy of Romania. It also describes the post-transformation horizon for achieving quasi-constant inverted levels between “tangible-intangible” for the transition to a new business cycle in the New Knowledge-Based Economy and Risk. It follows that if GDP reflects the sum of the market value of all goods and services intended for final consumption, not intermediate ones, produced in all branches of the economy within Romania within a year, by way of investigative proximity, business and cycles of manifestation of these were closely followed by dimensional evolutionary trends of similarity and aggregation with GDP. In fact, the New Knowledge-Based Economy has radically and positively changed Romania's advance towards the digitalized society, based more and more on the operationalization of intangible assets. The problem of vision, strategy and development tactics through new business cycles is found in the search for the optimal structural ratio between tangible and intangible assets (knowledge) insurers for competitiveness and sustainability.

Keywords: business cycle, Romanian economy, business, entrepreneurship, investment, new knowledge-based economy, tangible assets, intangible assets