Ex post, this is evident by the country’s economic devastation triggered by the global financial crisis back in 2008, which turned into a full-blown double crisis, namely sovereign and banking crisis, in my country. In the case of Romania, things are quite simple. You don’t have to look at EU forecasts or Convergence Reports to find out.
Additionally, better education and training help to reduce mismatches in the labour market and allow for a smoother reallocation of workers between sectors and firms. 20 The last decades have already brought about an enormous increase in the level of educational attainment, the so-called “catch-up effect in education”.