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→Economy of Romania
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==Economy of Romania== | ==Economy of Romania== | ||
The population density of the country as a whole has doubled since 1900, though it is still lower than most central European states. The overall density figures, however, conceal considerable regional variation. Population densities are naturally highest in the towns, with the plains (up to elevations of some 700 feet [200 metres]) having the next highest density, especially in areas with intensive agriculture or a traditionally high birth rate (e.g., northern Moldavia and the “contact” zone with the Subcarpathians); areas at elevations of 700 to 2,000 feet (200 to 600 metres), rich in mineral resources, orchards, vineyards, and pastures, support the lowest densities. | |||
Since the 1990s the population of Romania itself has declined. Several factors have contributed to this downturn. Primarily, abortions and birth control were restricted under communist rule; after the revolution the restrictions were lifted, causing a plunge in the birth rate. Secondarily, a sharp decline in the standard of living and in the quality and availability of public health and medical facilities has leveled off life expectancy. The number of stillbirths and infant deaths, which had fallen significantly from the early 1970s to the early ’80s, rose in the late ’80s and remained high through the early 2000s. The proportion of the population under age 15, which was about one-third in the 1980s, had dropped to less than one-sixth by the early 21st century. These statistics have caused concern regarding the deterioration of Romania’s population. The lifting of emigration restrictions also resulted in a loss of population, especially among minorities and particularly ethnic Germans. Moreover, many Romanians, especially young adults, emigrated from Romania after 1989, searching for economic opportunities in western Europe and North America. | |||
Socialist development transformed the economy. Industry’s contribution to national income rose from 35.2 percent in 1938 to 68.3 percent in 1986. Unemployment was avoided despite a substantial growth of population, and services were able to expand to meet demand. The transport system was modernized, and increasing numbers of families took vacations on the Black Sea coast and at mountain resorts. Nevertheless, incomes remained low and living conditions poor (with high housing densities and low welfare standards). Much of industry was inefficient, with overmanned factories achieving only low productivity and producing goods of inferior quality that could be sold only within the communist bloc (or in world markets at low prices that did not always reflect the actual costs of production). After large development loans were secured from Western creditors in the 1960s and ’70s, dependence on foreign capital was minimized by the settlement of all foreign debts during the 1980s. This left many sectors of industry starved of investment in new technology, and the persistence of a primitive command structure left people with little capacity to innovate and take initiatives. Moreover, serious pollution problems arose, especially in the chemical industry. | |||
The postcommunist government faced a difficult transition toward a market economy. It approached privatization cautiously, since few Romanians had significant capital to invest and many state-owned enterprises were not attractive to foreign investors. Despite expectations that the replacement of markets lost through the collapse of the Soviet Union would lead to a revival in production and that restructuring would then proceed gradually, the shift to a market economy was at best intermittent and slow. Throughout the 1990s the government had to support a large number of unemployed workers, and it was left with an antiquated industrial base. Nevertheless, many small retail and tourism-related businesses were created. | |||
By the end of the 1990s, a mixed economy had evolved in Romania, and a trend toward a full-fledged market economy was clearly visible. Important sectors of heavy industry, mining, transport, and communications, however, remained under government control and were relatively immune to market forces. High unemployment and inflation rates led to an overall decline in the standard of living. | |||
Despite an initial outpouring of foreign aid following the revolution in 1989, ongoing aid and investment was discouraged by confusing and inconsistent investment and tax laws and the widespread perception of corruption. It was not until 1997 that laws were changed to attract foreign investment to stimulate the economy. In 2001 the Romanian Agency for Foreign Investment was established. By the early 2000s the leading sources of foreign investment came from the Netherlands, Austria, France, Germany, Italy, and the United States. Also during this period, gross domestic product (GDP) rose dramatically, more than quadrupling between 2002 and 2008, and inflation rates had dropped to the single digits by mid-decade. | |||
Under the constitution, private property rights and a market economy are guaranteed. Natural resources are public property, but they can be leased. Thousands of state-owned enterprises (apart from utilities) were privatized under a program of the National Privatization Agency. | |||
*[[Agriculture, forestry, and fishing-Romania]] | |||
Agriculture has traditionally been the backbone of the Romanian economy; more than one-third of the land is devoted to cultivation (including vineyards, orchards, and vegetable gardens). A radical land reform, begun in 1921 and completed in 1948, redistributed farmland from large owners to peasant farmers, but the restructuring of the economy after the communist takeover included the compulsory collectivization of agriculture, carried out between 1949 and 1962. Since 1989, state farms have been retained as large units of up to about 120 acres (50 hectares) with shareholders, but collective farms have been broken up into individual holdings—although in some areas they have been replaced by loose cooperative associations.--->[[Agriculture, forestry, and fishing-Romania|>>>Read More.<<<]] | |||
==Government and Society of Romania== | ==Government and Society of Romania== | ||
==Culture Life of Romania== | ==Culture Life of Romania== | ||