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Factors And Mechanisms Of Economic Growth In Transition Economies Of Different Types (Case Of Romania)

Author

Listed:
  • Albu, Lucian Liviu

    (Institute for Economic Forecasting, Romanian Academy, Bucharest)

  • Roudoi, Andrei

    (Global Insight (DRI-WEFA), Washington, DC, USA)

Abstract

The paper analyzes the dynamics and structure of GDP in Romania during the transition period. Two simulation scenarios are proposed on the basis of a standard production function. The first simulation uses an augmented production function with FDI and exports, while the second simulation uses a standard Cobb Douglas production function. In order to realize the simulation, an estimation of the capital stock is proposed, underlining in these scenarios that foreign investments are expected to play a major role in the economic growth during the simulation period.

Suggested Citation

  • Albu, Lucian Liviu & Roudoi, Andrei, 2003. "Factors And Mechanisms Of Economic Growth In Transition Economies Of Different Types (Case Of Romania)," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 50-64, December.
    • Handle: RePEc:rjr:romjef:v::y:2003:i:4:p:50-64
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    Citations

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    Cited by:

    1. Caraiani, Petre, 2007. "Modelling The Economic Growth In Romania With The Solow Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(1), pages 77-88, March.
    2. Błażejowski, Marcin & Gazda, Jakub & Kwiatkowski, Jacek, 2016. "Bayesian Model Averaging in the Studies on Economic Growth in the EU Regions – Application of the gretl BMA package," MPRA Paper 89366, University Library of Munich, Germany, revised Oct 2016.
    3. Altar, Moisa & Necula, Ciprian & Bobeica, Gabriel, 2008. "Modeling The Economic Growth In Romania. The Role Of Human Capital," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(3), pages 115-128, September.

    More about this item

    Keywords

    forecasting; production function; economic growth;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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