ANALYSIS OF THE CORRELATION BETWEEN THE GDP EVOLUTIONS AND THE CAPITAL AND LABOR FACTORS IN ROMANIA
Zizi Goschin and
Additional contact information
Claudiu Herteliu: Institute of National Economy
Journal for Economic Forecasting, 2005, vol. 2, issue 3, 5-21
The present study approaches the dynamic correlation between GDP and the gross fixed capital formation, based on the use of ICOR (incremental capital output ratio) indicator in order to determine the required investment volume for the period 2005-2008, under various efficiency conditions, including three variants of possible ICOR magnitude. The second part of the study deals with the correlation between GDP and capital and labor in the Romanian economy. On the basis of the computation of the Cobb-Douglas model whose parameters are used for forecasting the necessary growth of fixed capital formation in the period 2005-2008, the analysis shows a long term perpetuation (2000-2008) of under-performance situations, each time the investment rate being significantly higher than the output one .
Keywords: GDP growth; necessary fixed capital formation; ICOR; cross-section analysis; Cobb-Douglas production function; capital and labor contribution to GDP growth (search for similar items in EconPapers)
JEL-codes: C10 C31 E22 (search for similar items in EconPapers)
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rjr:romjef:v:2:y:2005:i:3:p:5-21
Access Statistics for this article
Journal for Economic Forecasting is currently edited by Lucian Liviu Albu and Corina Saman
More articles in Journal for Economic Forecasting from Institute for Economic Forecasting Contact information at EDIRC.
Bibliographic data for series maintained by Corina Saman ().