Convergence of Regional Development in Romania In Terms Of Gross Domestic Product

The paper analyzed the dynamics of converaence of regional development in Romania in terms of GDP and GDP/capita in the period 2007-2014, based on the data provided by Eurostat Statistics Explained Database. In order to characterize the convergence of the economic development in the territory by NUTS 2 regions, the statistical analysis was based on the use of mean, standard deviation, variance, ratio between the maximum and minimum values, coefficient of variation and Gini-Struck coefficient. Also, it was analyzed Romania's level of development versus EU-28 and its member states GDP/capita. Romania's GDP increased by 19.77 %, from Euro Billion 150.2 in 2007 to Euro Billion 125.4 in 2014, while its GDP/capita increased by 35 % from Euro 6,000 in 2007 to Euro 8,100 in 2014. All the regions recorded an important economic development, but it was noticed a general trend of divergence, and not of convergence, between the regions with a higher development (Bucharest-Ilfov, South Muntenia) and the one with the lowest development (South West Oltenia). This general trend was confirmed by the increased value of dispersion, the ration between the maximum and minimum value and the high variation coefficient (48.2 % in case of GDP and 53.7 % in case of GDP/capita), and Gini-Struck coefficients whose values increased from 0.047 to 0.168 in case of GDP, and from 0.100 to 0.188 in case GDP/capita. Romania's entry into the EU has stimulated the economic development leading to a high growth rate, the reduction of the economic gap, a higher economic stability. However, Romania must make important efforts to assure a balanced development of its regions and to become more competitive among the EU-28 member states.