International fragmentation of production. Local vulnerabilities and capitalization of heritage values in Romania

Georgescu, George (2014): International fragmentation of production. Local vulnerabilities and capitalization of heritage values in Romania.

Abstract

Due to the extent of markets globalization and of cross-border fragmentation of world production, the international value-added chains development brought about new challenges for emerging countries, many from SEE area, including Romania. The benefits for host countries arising from global production relocating on their territory could be significant in terms of employment, but maintaining active and even enriching the local work skills and cultural heritage. At the same time, these international transactions (through processing trade and/or FDI inflows) create vulnerabilities at the local level. The risks for host countries associated to other areas relocation of production could be mitigated by developing innovative and entrepreneurship heritage as drivers of sustainable growth and post-crisis economic recovery.

• Item Type: MPRA Paper
• Language: English
• Keywords: international fragmentation of production; processing trade; FDI; entrepreneurship heritage; innovative heritage
• Subjects: A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values; F - International Economics > F2 - International Factor Movements and International Business > F21 - International Investment ; Long-Term Capital Movements; F - International Economics > F6 - Economic Impacts of Globalization > F61 - Microeconomic Impacts; L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L26 - Entrepreneurship; Z - Other Special Topics > Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology > Z10 - General

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