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Estimating contribution of factors to long-term growth in Romania

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  • Albu, Lucian-Liviu

Abstract

The paper analyses the dynamics and structure of GDP in Romania during the transition period. Starting from the classical Cobb-Douglas production model, the paper investigates different scenarios for the Romanian economy on the basis of different assumptions regarding the model’s parameters. The adapted model also tries to cover the implications of some peculiarities of the Romanian transition economy, such as a large agricultural sector.

Suggested Citation

  • Albu, Lucian-Liviu, 2003. "Estimating contribution of factors to long-term growth in Romania," MPRA Paper 14729, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:14729
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    References listed on IDEAS

    as
    1. Balasubramanyam, V N & Salisu, M & Sapsford, David, 1996. "Foreign Direct Investment and Growth in EP and IS Countries," Economic Journal, Royal Economic Society, vol. 106(434), pages 92-105, January.
    2. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    3. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    4. Albu, Lucian Liviu & Roudoi, Andrei, 2003. "Scenarios Of Economic Development In Romania – Medium To Long-Term Forecasting Models," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(5), pages 64-77, December.
    5. Croitoru, Lucian & Tarhoaca, Cornel, 2003. "The Romanian Growth Potential – A Cge Analysis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 7-22, December.
    6. Dobrescu, Emilian, 1996. "Macromodels of the Romanian transition Economy," MPRA Paper 35810, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Cobb-Douglas production function; total factor productivity; long-term economic growth; macroeconomic forecasting;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production

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