THE EFFECT OF PRIVATIZATION ON THE SUSTAINABILITY OF THE ROMANIAN AQUACULTURE
Privatization emerged as a consequence of nationalization and remains an ongoing contemporary process. After the fall of the communist regime in Romania, the Romanian economy has moved to a competitive market economy from the centralized economy based on the plan-based leadership system. A new economic system based on the requirements of the free competitive market was desired, respecting the principles of economy, sustainability. The paper tries to answer the question of how the sustainability of the aquaculture sector was influenced during this period. The study concludes that the transition that included privatization brought about changes for which the aquaculture sector was not fully prepared. Following the impact, a large part of the companies was liquidated, the sector could not cover the needs of fish consumption in Romania. The way to change the type of property including its management requires the wisdom to learn from the experiences of others, from their own experience, more that the privatization process in Romania still has a lot of potential.
Keywords: economy, fish farming, property right, public goods.
