Descompunerea cresterii economice in Romania. Sustenabilitatea procesului de convergenta economica

Marius Marinas

Theoretical and Applied Economics, 2006, vol. 4(499)(supplement), issue 4(499)(supplement), 403-430

Abstract: The economic growth of the Romania is explain by improvements in total factor productivity. Between 1991 and 2004 the contribution from labor was negative as a result of labor shedding. Due to periods of contracting investment followed by weak capital accumulation, on average there was no contribution from capital. Growth was entirely due to more efficient use of labor and capital, and likely the result of the limited privatization and restructuring that has been achieved. In the long-run, efficiency can only increase from the adoption of new technologies, including managerial techniques and advanced capital goods. Hence the conclusion is once more that the incentive structure of the economy needs to be changed to encourage greater domestic and foreign investment.

Keywords: Solow model; conditional convergence; human capital; potential GDP; knowledge based economy. (search for similar items in EconPapers)
Date: 2006
References: Add references at CitEc
Citations:

Downloads: (external link)
http://store.ectap.ro/suplimente/supliment.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:4(499)(supplement):y:2006:i:4(499)(supplement):p:403-430

Access Statistics for this article

Theoretical and Applied Economics is currently edited by Mircea Dinu

More articles in Theoretical and Applied Economics from Asociatia Generala a Economistilor din Romania / Editura Economica Contact information at EDIRC.
Bibliographic data for series maintained by Mircea Dinu ().