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Modelling The Economic Growth In Romania With The Solow Model

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Author Info
Caraiani, Petre () (Institute for Economic Forecasting, Romanian Academy, Bucharest)

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Abstract

In this study I make an estimation of the Solow model for the Romanian economy. Starting from the estimates of the parameters from other studies, I simulate the model both for the 1990-2004 period and in the long run. The study shows that the Solow model provides a good approximation of the dynamics of the Romanian economy for the 1990-2004 period, with respect to the dynamics of the aggregate GDP and to the ratios of the main macroeconomic variables, like production per worker, capital-output ratio or capital per worker. The simulation for the 2030 time horizon indicates a potential of growth of over 3%.

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File URL: http://www.ipe.ro/rjef/rjef1_07_6/
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Publisher Info
Article provided by Institute for Economic Forecasting in its journal Romanian Journal of Economic Forecasting.

Volume (Year): 4 (2007)
Issue (Month): 1 (March)
Pages: 77-88
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Handle: RePEc:rjr:romjef:v:4:y:2007:i:1:p:77-88

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Related research
Keywords: economic growth; productivity; transition;

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Find related papers by JEL classification:
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
P47 - Economic Systems - - Other Economic Systems - - - Performance and Prospects

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Susan M. Collins & Barry P. Bosworth, 1996. "Economic Growth in East Asia: Accumulation versus Assimilation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1996-2), pages 135-204. [Downloadable!]
  2. Crafts, Nicholas & Kaiser, Kai, 2004. "Long-term growth prospects in transition economies: a reappraisal," Structural Change and Economic Dynamics, Elsevier, vol. 15(1), pages 101-118, March. [Downloadable!] (restricted)
  3. Stanley Fischer & Ratna Sahay & Carlos A. Végh Gramont, 1998. "From Transition to Market - Evidence and Growth Prospects," IMF Working Papers 98/52, International Monetary Fund.
  4. Caraiani, Petre, 2004. "Estimating Total Factor Productivity In The Romanian Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 1(1), pages 97-108, February.
  5. Albu, Lucian Liviu & Roudoi, Andrei, 2003. "Factors And Mechanisms Of Economic Growth In Transition Economies Of Different Types (Case Of Romania)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 50-64, December.
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This page was last updated on 2009-12-13.


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