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The Biderectional Relationship Between Human Development Index and Economic Growth in Romania

Author

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  • Adina Trandafir

    (“Spiru Haret†University)

Abstract

Human development aims at expanding freedoms so that all human beings can live according to the choices they value. These freedoms have two fundamental aspects: freedom of well-being, represented by functionalities and abilities and freedom of mandate, represented by expression and autonomy. Human development has made tremendous progress in the last quarter of a century. Globalization has played an important role in this direction - it has integrated people, markets and the workforce, and the digital revolution has changed people's lives. This paper analyses the literature that deals with the subject, as well as a methodology of calculating the Human Development Index and Economic Growth, and an econometric analysis wishing to highlight the bidirectional correlation between HDI and Economic Growth, using data recorded in Romania during 2000-2018.

Suggested Citation

  • Adina Trandafir, 2019. "The Biderectional Relationship Between Human Development Index and Economic Growth in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 921-926, December.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:921-926
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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2020/02/Section%20V/43.pdf
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    References listed on IDEAS

    as
    1. Stephen G. GRUBAUGH, 2015. "Economic Growth And Growth In Human Development," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 15(2), pages 5-16.
    2. Costantini, Valeria & Monni, Salvatore, 2008. "Environment, human development and economic growth," Ecological Economics, Elsevier, vol. 64(4), pages 867-880, February.
    3. Ranis, Gustav, 2004. "Human Development and Economic Growth," Center Discussion Papers 28375, Yale University, Economic Growth Center.
    4. Gustav Ranis, 2004. "Human Development and Economic Growth," Working Papers 887, Economic Growth Center, Yale University.
    5. Mukherjee, Sacchidananda & Chakraborty, Debashis, 2010. "Is there any Relationship between Environment, Human Development, Political and Governance Regimes? Evidences from a Cross-Country Analysis," MPRA Paper 19968, University Library of Munich, Germany.
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    More about this item

    Keywords

    Human Development Index; Economic Growth; Human Resources; GDP; Per Capita GDP;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other

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