Services and structural patterns of a post-transition Romanian economy

Gheorghe Săvoiu, Vasile Dinu and Laurenţiu Tăchiciu

Economic Research-Ekonomska Istraživanja, 2015, vol. 28, issue 1, 788-806

Abstract: The present paper reflects a first step in exploring in a systematic way the manner in which services are embedded in the economic life in Romania. The authors believe that service industries, in particular knowledge intensive services, are at the core of this transformational process and economic transitions. This article presents the input–output tables and their role for the real GDP and real growth estimations, the importance of correlation between goods and services, an econometrical analysis of some major matrix of correlation developed from data, and a set of conclusions describing the impact of goods-services correlation on the Romanian economic growth. The three sections are the distinct research objectives: (a) the input–output descriptive images, emphasising statistical characteristics of goods-services liaisons; (b) the evaluation of these correlations with the dynamics of real Romanian GDP, based on the R-squared matrix; (c) the identification of the impact on the real growth of goods-services liaisons for the Romanian economy as a specificity of its stage of development.

Date: 2015
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DOI: 10.1080/1331677X.2015.1087326

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