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World Bank: Efficient companies entering the market - the main productivity growth instrument for Romania

de Radu Rizea
Joi, 22 mai 2008, 22:35 English | Top News

New and efficient companies entering the market and inefficient companies leaving it is the main way Romania may improve its productivity, said World Bank economist Paloma Anos Casero on Thursday. Other factor able to determine an increase in productivity is to move the labor force from low productivity companies to high productivity companies.

"Romania's priorities for productivity increase must be the promotion of innovations and the elimination of barriers between new and productive companies entering the market and the exit of old and morally obsolete companies". The WB representative points at the fact that 80% of the productivity growth between 1999 and 2005 was explained by the productivity increase, while the labor force and the capital had a lower contribution to the economic development.

Paloma Anos Casero showed that Romania made a lot of progress after 2004, in many fields being close to advanced countries. Still, Romania must continue its reform policies in areas such as the labor force training, infrastructure development and access to financing.

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