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Growth and Technology: The New Economy in the 2000's CEE Countries and Romania

Author

Listed:
  • Diana Mihaela Apostol

    (Dimitrie Cantemir Christian University)

  • Cristina Balaceanu

    (Dimitrie Cantemir Christian University)

Abstract

We use a concept of the new economy based on ICT and the inherent internal capacity to change the production patterns of producers. Thus, our results indicate that ICT is the main growth contributor (catching-up) of the years 2000 between inputs (Romania) and probably the main explication for the movement of the economies to economic growth based on the accumulation of capital and technology (CEE); large jumps and fluctuations of the technological factor probably reflect the cumulative effects of restructuring, narrowing the state sector and labor savings. We conjecture that, especially in Romania, the wave of restructuring is generated by the ICT boom; similarly, the growth contribution from labor quality is probably reflecting the massive mobilization of technology in the mid 2000s. The technological “mantra” of the new economy- faster, better, cheaper - seems to be supported by mutations in Romania and CEE economies.

Suggested Citation

  • Diana Mihaela Apostol & Cristina Balaceanu, 2011. "Growth and Technology: The New Economy in the 2000's CEE Countries and Romania," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 1(2), pages 46-55, December.
    • Handle: RePEc:hur:ijaraf:v:1:y:2011:i:2:p:46-55
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    References listed on IDEAS

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    More about this item

    Keywords

    ICT; technology; New Economy; economic growth; neoclassic perspectives;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • 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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