Assessing Regional Economic Performance in Romania Through Panel ARDL and Panel Quantile Regression Models

Irina Georgescu, Ionuț Nica (), Camelia Delcea, Nora Chiriță and Ștefan Ionescu
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Ionuț Nica: Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 0105552 Bucharest, Romania
Camelia Delcea: Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 0105552 Bucharest, Romania
Nora Chiriță: Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 0105552 Bucharest, Romania
Ștefan Ionescu: Department of Economic Informatics and Cybernetics, Bucharest University of Economic Studies, 0105552 Bucharest, Romania

Sustainability, 2024, vol. 16, issue 21, 1-26

Abstract: This study aims to address the persistent regional economic disparities in Romania by evaluating economic performance through Panel Autoregressive Distributed Lag (pARDL) and panel quantile regression (PQR) models. The analysis focuses on the impact of key economic variables, including research and development expenditures (CTCRD), IT infrastructures (IT), the number of universities (FCL), and the average number of employees (NMSP), on regional gross domestic product (GDPR). Using data from the Romanian National Institute of Statistics for the period 2003–2022, this research seeks to understand how targeted investments and policy interventions can stimulate growth and reduce inequalities across regions. The findings highlight the important role of R&D, IT infrastructures, and technological advancements in driving economic growth, especially in less developed areas. The study also emphasizes the importance of region-specific strategies in fostering sustainable growth, promoting economic resilience, and bridging the gap between more and less prosperous regions.

Keywords: local development and innovation; collaborative networks for local development; panel ARDL model; panel quantile regression model (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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