AN ECONOMETRICAL MODEL FOR CALCULATING THE ROMANIAN GROSS DOMESTIC PRODUCT

Ana Maria Mihaela Iordache, Ionela Catalina Tudorache and Mihai Tiberiu Iordache
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Ana Maria Mihaela Iordache: Romanian-American University
Ionela Catalina Tudorache: Romanian-American University
Mihai Tiberiu Iordache: IMSAT Bucharest

Journal of Information Systems & Operations Management, 2011, vol. 5, issue 2.1, 492-499

Abstract: This article analyzes the possibility of determining the Romanian Gross Domestic Product on the basis of a linear model, based on macroeconomic indicators such as unemployment, inflation, exchange rate. The proposed solution allows forecasting the Gross Domestic Product for the following period of time based on equation determined from the model in order to develop scenarios for improving the macroeconomic situation of Romania. The article also can be a starting point in the field of strategic investments, both at macro and micro level. Any foreign investor, before starting a business in another country, calculated and also made predictions about the economic situation of that country, in order not to lose the investment made.

Keywords: regression; GDP; inflation; unemployment; forecast (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rau:jisomg:v:5:y:2011:i:2.1:p:492-499

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