Economics at your fingertips  


Manuela Unguru () and Razvan Voinescu ()
Additional contact information
Razvan Voinescu: Institute for World Economy Department New Drivers of Economic Development, Bucharest, Romania

Global Economic Observer, 2014, vol. 2, issue 2, 103-112

Abstract: With initial low levels of income per capita, a declining population and relatively modest economic growth rates, there are little prospects of diminishing the gap between Romania and the EU countries. Nevertheless, in the long term, convergence is expected. The question then arises, “What are the drivers and their likely potential to boost economic growth and the catching-up process?”. This paper presents shortly the theoretical background of economic convergence and then focuses on the assessment of possible paths of Romania’s convergence towards the EU. Based on the existing long-term macroeconomic projections and the assessment of the possible future developments of the drivers of economic growth, we have built three scenarios of economic convergence, highlighting the possible timespan of convergence. We have employed growth accounting methods to decompose output growth rate into production factors’ contributions (capital and labour) and total factor productivity.

Keywords: economic growth; long term projections; technological change; beta convergence; sigma convergence (search for similar items in EconPapers)
JEL-codes: O11 O47 (search for similar items in EconPapers)
Date: 2014-11
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) ... vol2_no2_art_013.pdf First version, 2014 (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:

Access Statistics for this article

Global Economic Observer is currently edited by Serghei Margulescu and Simona Moagar-Poladian

More articles in Global Economic Observer from "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences Contact information at EDIRC., Institute for World Economy of the Romanian Academy
Bibliographic data for series maintained by Stefan Ciucu ().

Page updated 2020-01-17
Handle: RePEc:ntu:ntugeo:vol2-iss2-14-103