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The Analysis Of The Correlation Between The Evolution Of The Gdp And That Of The Capital And Labour Factors In Romania

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Author Info
Gheorghe ZAMAN (Institute of National Economy)
Zizi GOSCHIN () (Institute of National Economy)
Claudiu HERTELIU () (Academy of Economic Studies, Bucharest)

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Abstract

Researching the correlation between GDP and production factors has been performed based on several procedures and quantitative-qualitative techniques, so as to underpin hierarchies and provision the factors’ contribution to GDP. Our study approaches first the dynamic correlation between GDP and gross formation of fixed capital, based on using the ICOR (incremental capital output ratio) indicator, with and without time lag, in four computation variants and thereafter the relation between GDP and the capital and labour production factors with the help of the production functions of the type Cobb-Douglas. Both directions of analysis have been finalised with prognosis computations with respect to investment needs in order to ensure a certain growth of GDP for the future.

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Publisher Info
Article provided by Institute of National Economy in its journal Romanian Journal of Economics.

Volume (Year): 21 (2005(XV))
Issue (Month): 2(30) (December)
Pages: 9-21
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Handle: RePEc:ine:journl:tome:21:y:2005(xv):i:2(30):p:9-21

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Related research
Keywords: GDP growth; production factors; quantitative-qualitative techniques;

Find related papers by JEL classification:
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - General
C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models

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This page was last updated on 2009-12-9.

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