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Development Of Production Function Model In Order To Quantify The Contribution Of Factors To Long-Term Growth In Romania

Author

Listed:
  • Albu, Lucian Liviu

    (Institute for Economic Forecasting)

Abstract

Starting from the classical model of the Cobb-Douglas production function, 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, 2004. "Development Of Production Function Model In Order To Quantify The Contribution Of Factors To Long-Term Growth In Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 1(1), pages 5-14, February.
    • Handle: RePEc:rjr:romjef:v:1:y:2004:i:1:p:1-14
    as

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    More about this item

    Keywords

    Cobb-Douglas production function; 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

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