FLUCTUATION OF ECONOMIC ACTIVITY, SECTORAL DISTRIBUTION OF GROSS VALUE ADDED AND THE SIZE OF BACKWARD MULTIPLIERS IN ROMANIA DURING THE PERIOD 1989-2009
Florin Pavelescu ()
Romanian Journal of Economics, 2012, vol. 35, issue 2(44), 88-112
In this paper it is adopted the assumption that the analysis of the features of the sectoral structure of a country’s economy shall have in view not only the sectoral distribution of value-added, but also the sectoral ratios of the effective production to the value added, and the sectoral multipliers of the input-output table. In this context, having in view some algebrical properties of the backward multipliers of the input-output table, demonstrated in F. M. Pavelescu (1997), an improved methodology is proposed for the analysis and interpretation of the economic significance of the above-mentioned indicator both in absolute and relative values. The analytical framework mentioned above is applied in the case of Romania and permits to show that in Romania, during the period 1989-2009, the transformation process and the integration into the European Union generated not only important fluctuations of the gross domestic product (GDP) and the growth of the role of the service sector, but also important changes in the sectoral ratio of the effective production to the value added and in the size of the input-output multipliers.
Keywords: main sense of structural change; effective production/gross valueadded ratio; harmonical weighted mean; types of relative backward multiplier (search for similar items in EconPapers)
JEL-codes: C67 D57 E01 E32 N14 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ine:journl:v:2:y:2012:i:44:p:88-112
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