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Determinants Of Economic Growth And Romanian Competitiveness. An Empirical Analysis

Author

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  • Dan Cătăneţ

    (Academy of Economic Studies, Bucharest)

  • Alina Cătăneţ

    (Media University)

  • Cătălina Radu

    (Academy of Economic Studies, Bucharest)

Abstract

Economic growth rates vary dramatically across countries over long period of time creating big differences in the standard of leaving of its residents. Using the general framework developed by Barro on a panel date for more than 150 countries with observations computed 5 years, 10 years, 20 years, 40 years period, and annually, during 1961-2000, we found that economic growth is positively correlated with a higher level of health and education, and an increase in: savings, openness of the economy, development of the financial system, capital formation, FDI, and real interest rate. Therewith economic growth is negatively correlated with a higher level of GDP per capita, and an increase in: government consumption, inflation rate, budget deficit, fertility and population growth, unemployment, and current account deficit. In this framework, the evolution and the perspectives of the Romanian growth determinants is mainly positive, although its competitiveness has to grow in order to overcome the new challenges since we have join European Union, as can be read also in "The Global Competitiveness Report 2007-2008".

Suggested Citation

  • Dan Cătăneţ & Alina Cătăneţ & Cătălina Radu, 2007. "Determinants Of Economic Growth And Romanian Competitiveness. An Empirical Analysis," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 11(11(516)(s), pages 75-82, November.
    • Handle: RePEc:agr:journl:v:11(516)(supplement)(vol2):y:2007:i:11(516)(supplement)(vol2):p:75-82
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