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Efficiency of economic development models

Author

Listed:
  • Oana Camelia Iacob

    () (Valahia University, Targoviste, Romania)

  • Ana-Maria VOlintiru

    () (Valahia University, Targoviste, Romania)

  • Andrei Mihai Cristea

    () (Hyperion University of Bucharest)

Abstract

The world economy is becoming increasingly integrated. Integrating emerging economies of Asia, such as China and India increase competition on the world stage, putting pressure on the "actors" already existing. These developments have raised questions about the effectiveness of European development model, which focuses on a high level of equity, insurance and social protection. According to analysts, the world today faces three models of economic development with significant weight in the world: the European, American and Asian. This study will focus on analyzing European development model, and a brief comparison with the United States. In addition, this study aims to highlight the relationship between efficiency and social equity that occurs in each submodel in part of the European model, given that social and economic performance in the EU are not homogeneous. To achieve this, it is necessary to analyze different indicators related to social equity and efficiency respectively, to observe the performance of each submodel individually. The article analyzes data to determine submodel performance according to social equity and economic efficiency.

Suggested Citation

  • Oana Camelia Iacob & Ana-Maria VOlintiru & Andrei Mihai Cristea, 2013. "Efficiency of economic development models," Hyperion Economic Journal, Faculty of Economic Sciences, Hyperion University of Bucharest, Romania, vol. 1(1), pages 32-41, March.
  • Handle: RePEc:hyp:journl:v:1:y:2013:i:1:p:32-41
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    More about this item

    Keywords

    economic development; social justice; economic performance; European economic model;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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