Munich Personal RePEc Archive

Fragmentarea internaţională a producţiei. Fenomenul perfecţionării active: un "rău necesar" sau o şansă pentru România?

Georgescu, George (2003): Fragmentarea internaţională a producţiei. Fenomenul perfecţionării active: un "rău necesar" sau o şansă pentru România? Published in: Romanian Journal of Economics No. 1/2004 (2004): pp. 43-53.

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Abstract

Accelerated globalization has shown a new significant dimension of intermediate goods cross border flows, led mainly by multinational companies searching competitiveness gains through international fragmentation of production and delocalization on international value-added chains. The related goods, making the object of inward/outward processing trade, even if they have a declared custom value do not involve financial flows (except for fees for processing). Because of their high nominal values that inflates the foreign trade figures, for analytical purposes, including the revealing the BoP current account real financial flows, their separate examination has become of crucial importance. In the case of Romania, favored by the low level of labor costs, the inward processing phenomenon is already a quasi-dominant component of trade (almost two thirds of total exports and one third of total imports). The risks for Romania of this phenomenon high volatility could be reversed by taking over its technological advance and know-how.

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