The Capital in post-communist Romania

This page aims to disseminate the main results and solutions of the study contained in the book entitled The Capital in Post-communist Romania, printed in Romanian by the Publishing House of the Romanian Academy in 2018.

The English summary (2019) can be accessed  Here.

Please find below the appreciation of Mr. Filip Novokmet, PhD., Researcher World Inequality Database and World Inequality Laboratory - led, as co-director, by professor Thomas Piketty - about the book:

“The capital in post-communist Romania is an important study that will broaden our understanding of capital transformation from communism to market economy in Eastern Europe. Mr. Georgescu has done a remarkable work by amassing the huge amount of statistical data on capital and income in post-communist Romania and subjected it to the rigorous expert analysis. We are bestowed as a result with the detailed macroeconomic series (the book has a total of 1055 pages) that provide an insight into the metamorphosis of capital through the critical period of the recent Romanian history featured by the transition and privatization, international opening or the EU accession. Yet, the book goes beyond this impressive contribution and further offers a detailed analysis of documented patterns and provides concrete policy recommendations. Mr. Georgescu is without doubt the right person to carry out such an in-depth investigation due to his unique understanding of the state of and challenges in front of the Romanian economy and society. In a coherent exposition, he gives – through the prism of multifaceted nature of capital and always considering implications on capital formation and restructuring – the appraisal of transition reforms and policies, of the entrepreneurial behavior, the balance between capital and labor in the economy, to the elaborate discussion of the role of foreign investment. The findings of the book are important for the convergence process and long-term growth sustainability of Romania. In short, The capital in post-communist Romania is a powerful book, which will present an indispensable building block for future studies of the Romanian social reality”.