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Factors And Mechanisms Of Economic Growth In Transition Economies Of Different Types (Case Of Romania)

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Author Info

  • Albu, Lucian Liviu

    ()
    (Institute for Economic Forecasting, Romanian Academy, Bucharest)

  • Roudoi, Andrei

    ()
    (Global Insight (DRI-WEFA), Washington, DC, USA)

Abstract

The paper analyzes the dynamics and structure of GDP in Romania during the transition period. Two simulation scenarios are proposed on the basis of a standard production function. The first simulation uses an augmented production function with FDI and exports, while the second simulation uses a standard Cobb Douglas production function. In order to realize the simulation, an estimation of the capital stock is proposed, underlining in these scenarios that foreign investments are expected to play a major role in the economic growth during the simulation period.

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Bibliographic Info

Article provided by Institute for Economic Forecasting in its journal Journal for Economic Forecasting.

Volume (Year): (2003)
Issue (Month): 4 (December)
Pages: 50-64

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Handle: RePEc:rjr:romjef:v::y:2003:i:4:p:50-64

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Keywords: forecasting; production function; economic growth;

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Cited by:
  1. Caraiani, Petre, 2007. "Modelling The Economic Growth In Romania With The Solow Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(1), pages 77-88, March.
  2. Altar, Moisa & Necula, Ciprian & Bobeica, Gabriel, 2008. "Modeling The Economic Growth In Romania. The Role Of Human Capital," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(3), pages 115-128, September.

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