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Economic Growth - An Illusion? Study Case:Romania


  • Camelia MORARU

    (Academy of Economic Studies, Bucharest, Romania)

  • Norina POPOVICI

    („Ovidius”University, Faculty of Economic Sciences, Constanta,)


Literature has devoted considerable attention to economic growth because it creates the premises for achieving major goals such as route out of poverty of underdeveloped countries or contribute to raising the standard of living in developed countries. Economic growth has become an “order of the day” term, propagated by various "players" of economic and social life, in this way gaining various interpretations and meanings. This paper presents the results of the measures adopatate in order to recover Romanian economic situation. The austerity measures adopted until recently not allowed, however, to create a favorable environment for growth, taking into consideration that it is almost impossible for an economy to grow when conditions are limiting. Fiscal policies have focused on reducing the budget deficit, which led on slaughtering economic growth. Given the uncertain economic context, FDI was hardly drew into our country, their value last year has been insignificant. We can even say that the previous ended year was one economically, because our country did not recognize the road to the economic recovery.

Suggested Citation

  • Camelia MORARU & Norina POPOVICI, 2013. "Economic Growth - An Illusion? Study Case:Romania," CrossCultural Management Journal, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 2, pages 37-42, November.
  • Handle: RePEc:cmj:journl:y:2013:i:4:moraru

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    More about this item


    Growth; Fiscal policy; GDP;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence


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