Published in Romanian Journal of Economic Forecasting, 2004, volume 5 issue 1,
The paper attempts to evaluate the degree of restructuring of the Romanian labor market, namely the evolution of the labor efficiency over the transition period. The purpose is to reveal to which extent the transition reforms have brought higher efficiency into the economy, in which way the privatization increased the labor productivity in the private sector and what happened with the remaining state companies in terms of productivity and efficiency. The results point out to a still long way until the completion of the employment adjustment, the still insufficient development of the private sector (despite its increasing share in the overall economic activity) in terms of productivity, economic efficiency and capability to absorb the labor laid off by the public enterprises.
labor market restructuring, privatization, productivity, labor market efficiency
JEL Classification: J21, J23