FORECASTING ANALYSIS ON THE SATISFIED SUPPLY AND DEMAND INDUSTRIAL PRODUCTS AND SERVICES WITHIN THE SINGLE MARKET

Adriana Grigorescu (), Constantin Bob () and Andreea Simona Saseanu
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Constantin Bob: The Academy of Economic Studies, Bucharest, Romania
Andreea Simona Saseanu: The Academy of Economic Studies, Bucharest, Romania

HOLISTICA Journal of Business and Public Administration, 2011, vol. 2, issue 2, 13-33

Abstract: The market system is recognized as the most efficient way to organize a modern and dynamic economy. The European Single Market and the Internal Market are today the largest market in the world. The European Union produces over 30% of global GDP, thus becoming a leading player globally. Single Market is based on removing barriers and simplifying existing rules to enable each individual consumer and trader in the EU to take maximum advantage of the opportunities it offers, thus having direct access to 27 countries and 480 million people. From the perspective of its position as the world's main economic entity, the European Union has a poignant interest in ensuring favorable conditions for the development of world trade. Under this context, the paper presents a statistical analysis of supply and demand for industrial products and services at national level and in 8 regions, applying a methodology for forecasting hierarchical structure.

Keywords: Single Market; demand; supply; industrial; service; forecast. (search for similar items in EconPapers)
JEL-codes: M10 (search for similar items in EconPapers)
Date: 2011
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Working Paper: FORECASTING ANALYSIS ON THE SATISFIED SUPPLY AND DEMAND INDUSTRIAL PRODUCTS AND SERVICES WITHIN THE SINGLE MARKET (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:urn:urnste:v:2:y:2011:i:2:p:13-33

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